A Critical Evaluation of articles Related to Islamic Banking
Yaaseen Masvood
Dr. Yaaseen Masvood, SRM Institute of Science and Technology, Kattankulathur, Chennai (Tamil Nadu), India.
Manuscript received on 03 July 2019 | Revised Manuscript received on 13 August 2019 | Manuscript Published on 27 August 2019 | PP: 302-306 | Volume-8 Issue-2S4 July 2019 | Retrieval Number: B10570782S419/2019©BEIESP | DOI: 10.35940/ijrte.B1057.0782S419
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Islamic banking is any banking activity carried out within the parameters of Islamic jurisprudence. It differs from the traditional banking business in its prohibition of dealing with interest i.e. borrowing and lending of money for interest. Another feature that distinguishes Islamic banking is the concept of profit and loss sharing paradigm. These features have made this sunrise industry to not only attract new markets but also to show consistent growth over the years. Hence, large conventional banks have also shown interest in venturing into Islamic banking and have opened Islamic banking windows in their commercial set up in order to capitalize on the opportunity. Although Islamic banking is still in its nascent stage, it has become a global force to reckon with due to its strong ethical values and risk-minimization principles. The primary aim of this article is to critically review the existing literature available in studies related to Islamic banking.
Keywords: Islamic Banking, Islamic Finance, Interest-Free, Selection Criteria, Patronage Factors.
Scope of the Article: e-governance, e-Commerce, e-business, e-Learning