IMF Working Papers

Islamic Banking

By Abbas Mirakhor, Mohsin S. Khan

September 1, 1991

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Abbas Mirakhor, and Mohsin S. Khan Islamic Banking, (USA: International Monetary Fund, 1991) accessed November 12, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Islamic banks are prohibited from charging or paying interest, and thus can operate only on the basis of profit-sharing arrangements. This paper provides a brief survey of the theory and practice of Islamic banking. It covers developments in Islamic banking since the mid-1970s, how such banks operate, and the analytical underpinnings of a financial system based on Islamic principles. Finally, the future of Islamic banking is assessed.

Subject: Banking, Commercial banks, Financial institutions, Financial instruments, Financial services, Islamic banking

Keywords: Asset positions of bank, Assets of the bank, Banking operations, Commercial banks, Interest, Investment deposit, Islamic banking, Return, Such bank, WP

Publication Details

  • Pages:

    8

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 1991/088

  • Stock No:

    WPIEA0881991

  • ISBN:

    9781451851069

  • ISSN:

    1018-5941

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