2015
DOI: 10.18276/frfu.2015.75-01
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Islamic Banking System as an effective element of economy

Abstract: Abstract:The main goal of this paper is to present what the Islamic banks (the type of banks governs by Islamic law that governs every aspect of Muslims' life "Shariah") instruments are and why it is so important for the community. According to Shariah the payment or acceptance of interest charges (Riba) is prohibited in Islamic banking transactions. This paper is tried to describe the main features of the Islamic banking transactions and to identify the differences between Islamic and conventional banks. Also… Show more

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