Mudaraba term deposits in Islamic banking - the crucial aspects
AbstractSignificance of Islamic banking has been increasing in the last few decades. A distinctive feature of Islamic banks is the obligation to conduct operations in accordance with the principles of sharia, which is the religious law of Muslims. The prohibition of interest (riba) is considered to be the most fundamental sharia principle that Islamic banks must follow. As a result, transactions conducted by Islamic banks cannot be based on interest. This principle applies also to deposits which, preferably, should be based on the principle of profit and loss sharing. However, banks which offer this kind of deposits, face a number of problems. To overcome them is one of the challenges for the Islamic banking industry.
|Journal series||FINANSE Czasopismo Komitetu Nauk o Finansach PAN, ISSN 1899-4822, (B 12 pkt)|
|Publication size in sheets||0.5|
|Keywords in English||Islamic banking, term deposits, profit and loss sharing, mudaraba|
|Score||= 12.0, 24-07-2019, ArticleFromJournal|
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