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In your opinion, how Islamic banks established?

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Question added by Samer Khatib , Economics Moderator , Bayt.com
Date Posted: 2016/09/20
Muhammad Rizwan Tariq
by Muhammad Rizwan Tariq , FINANCE OFFICER , M.K. SONS (PVT) LTD

If we really want to establish Islamic Banks we have to promote real currency insted of paper currency and by using all tools of financing on the basis of sharih.

Dr Emil Abil Gasimov
by Dr Emil Abil Gasimov , Legal Counsel , Islamic Development Bank Group

There are two approaches:

1. social demand - muslim population requests for appropriable way of banking depending on their believes

2. oil boom - huge growth of income in "oil producing" countries has led to the appetite of conventional banks (Credit Agricole, Raiffaisen etc.) to manage those monies 

Deleted user
by Deleted user

Malaysia 1983 

 

Currently, Malaysia has a significant number of full-fledged Islamic banks including several foreign owned entities; conventional institutions who have established Islamic subsidiaries and also entities who are conducting foreign currency business

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