Islamic Banking and Finance (Paperback) (ISBN-13: 9783843389433)

To replace interest, the ideal mode of financing under the Islamic banking system is "Financing on Profit & Loss Sharing" (PLS) basis. Qard Hasanah are for the benefit of the individuals and the society at large. To safe-guard the interest of depositors/investors, these type of loans, as a matter of policy, do not constitute a significant source of financing by Islamic banks. However, if in any country, the Islamic System of Zakat is established and the Islamic State treasury starts functioning, the requirements of Qard Hasanah would primarily be met by the treasury.

Author: Zubair Hussain
ISBN-10: 3843389438
ISBN-13: 9783843389433
Publisher: LAP Lambert Academic Publishing
Language: English
Published: 12/29/2010
Pages: 64
Format: Paperback
Weight: 0.23lbs
Size: 9.00h x 6.00w x 0.15d