A Comprehensive Literature Review of Islamic Finance Theory from 2011 to 2016
Keywords:
literature review; islamic banks, conventional banks, performance
Abstract
This article aims to give a quantitative synthesis of the literature related to the performance of Islamic banks. Like conventional finance, Islamic Finance deals with 100% Halal investment, trade, transactions, lending and financial products. Thus, as its name suggests, Islamic Finance respects the precepts of the Muslim religion while addressing an audience without distinction of religion and color. Concretely, the consumer who chooses to entrust his money to Islamic finance is protected from interests (Rib#x2A6C; speculation (Maysir and Qim#x2CA9;, uncertainty (Gharar) and the illicit (Haram). In Islamic Finance, banks are forbidden to invest their money in Haram domains such as the tobacco industry, pornography, eroticism, the alcohol and wine industry ( And of course drugs), gambling, the hog industry and unlicensed food, armaments (except for states), the banking industry (except the Islamic banking industry), and so on. More clearly, Islamic Finance seeks to simplify access to money for Muslims and non- Muslims.
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Published
2017-01-15
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