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Difference Between Islamic Banking and Conventional Banking false
By:Farah Hicham Chehabeddine
Published on 2010 by


The considerable growth of Islamic finance as an alternative to conventional finance has triggered the interest of most global financial institutions. Today, most of the industries new practitioners are looking to understand the essentials of Islamic finance which lead to product innovation and sophistication. The shortest definition of a Bank reduces conventional banking to the following: it is borrowing from depositors and lending to businesses, consequently making a yield. This yield is the spread between given interest and taken interest. Conventional banks emerged, developed and grew on interest income alone. The idea of interest-free banking system never existed before 1950's. But since then, a new player in international economics chose to challenge the status quos and initiated the concept of finance without interest. Islamic finance and microfinance have many objectives in common, such as the social integration, fairness and justice. For many reasons, Islamic microfinance is actually a successful tool to fight against poverty and enhance social justice and solidarity.--After introducing the subject in the first chapter, we go through the review of literature and the Islamic law in business and finance in the second chapter. Chapter three will include a presentation of the different Islamic financial products and the main differences with the conventional products. In the fourth chapter we present the role of the Islamic finance in micro financing. Chapter five includes the conclusion which will show the current situation of Islamic banks, and the future perspectives concerning the industry.

This Book was ranked at 41 by Google Books for keyword Islamic Banking & Finance.

Book ID of Difference Between Islamic Banking and Conventional Banking's Books is ItCWMwEACAAJ, Book which was written byFarah Hicham Chehabeddinehave ETAG "BQ5AZSuJ0S0"

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