Principles and Practices of Investment Modes of Islamic Banking
Principles and Practices of Investment Modes of Islamic Banking | |
Abstract: The objective of the study is to gather practical knowledge regarding general banking system, investment and foreign exchange system and its operation. By pictorial description it is tried to find out the variation from various departments, particularly investment. Other objectives of the report are to identify the various types of existing services rendered by the SIBL. understand the prevailing mechanism of modes of finance of SIBL. Study the performance of modes of finance of SIBL. Highlight the major characteristics of modes of finance of SIBL. Understand the basic difference in relation to conventional bank.
1.1 Introduction: Today’s world is changing very rapidly as new business are emerging by placing the old ones. Towards the end of century, let alone a millennium, people feel a growing uneasiness about the future. Many countries suffer from chronic high employment, a persistent deficit and deteriorating purchasing power. Like the other business, banking practices are also changing at an incredible pace. Every decade calls upon company management to think freshly about its objectives, strategies and tactics. In the banking industry, community branch banks have long been the marketing channels through which customers deposit money and make payments. Banking plays an important role in the economy of any country. In Bangladesh Muslim consist more than 80% of its population. These people possess strong faith on Allah and they want to lead their lives as per the construction given in the holy Quran and the way shown by the prophet Hazrat Mohammad (Sm). But on Islamic banking system was developed here up to 1983. The traditional banking is fully based on interest it is commonly meant as commercial banks. But interest is absolutely prohibited by Islam. The main aim of traditional banking is to earn profit by borrowing and lending money in exchange of interest. As a result
Abstract: The objective of the study is to gather practical knowledge regarding general banking system, investment and foreign exchange system and its operation. By pictorial description it is tried to find out the variation from various departments, particularly investment. Other objectives of the report are to identify the various types of existing services rendered by the SIBL. understand the prevailing mechanism of modes of finance of SIBL. Study the performance of modes of finance of SIBL. Highlight the major characteristics of modes of finance of SIBL. Understand the basic difference in relation to conventional bank.
1.1 Introduction: Today’s world is changing very rapidly as new business are emerging by placing the old ones. Towards the end of century, let alone a millennium, people feel a growing uneasiness about the future. Many countries suffer from chronic high employment, a persistent deficit and deteriorating purchasing power. Like the other business, banking practices are also changing at an incredible pace. Every decade calls upon company management to think freshly about its objectives, strategies and tactics. In the banking industry, community branch banks have long been the marketing channels through which customers deposit money and make payments. Banking plays an important role in the economy of any country. In Bangladesh Muslim consist more than 80% of its population. These people possess strong faith on Allah and they want to lead their lives as per the construction given in the holy Quran and the way shown by the prophet Hazrat Mohammad (Sm). But on Islamic banking system was developed here up to 1983. The traditional banking is fully based on interest it is commonly meant as commercial banks. But interest is absolutely prohibited by Islam. The main aim of traditional banking is to earn profit by borrowing and lending money in exchange of interest. As a result
Bibliography: Ø Hossan, M. Kabir, “Islamic Banking”, First Edition, Islamic Economics Research Bureau, Dhaka, 2003, Page- 48-51, 71-84, 123-156, 169- 190. Ø Rose, Peter S., “Commercial Bank Management”, Fifth Edition, McGrow-Hill, 2005, Page- 153-156, 528-531.