Why Are Islamic Banks Becoming Popular
Why Are Islamic Banks Becoming Popular?
Prince Mohammad Bin Fahd University
Writing & Research, COMM 1312, Section 102
25 January 2010
Abstract
The Islamic banking system is currently spreading fast through many Arab and Muslim countries. The question here Why Islamic banks are getting popular? Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Shariah and the religious teaching underpinning Islamic finance and banking is concerned about justice in financial contracts to ensure that none of the parties is being exploited and this is what the clients want. My methodology in this research for this topic is by searching in books, websites, newspaper articles and asking experts. The results of this research are I have noticed that Islamic Banks have not been severe difficulty and have not been affect so much by the global economic crises. Many people turned to Islamic banks in the last few years especially global financial crisis. Islamic banking system is the best financial alternative after the global financial crisis
The Islamic banking system is currently spreading fast through many Arab and Muslim countries which make us wonder why this is happening. Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Shariah and the religious teaching underpinning. Islamic finance and banking is concerned about justice in financial contracts to ensure that none of the parties is being exploited and this is what the clients want. Maybe it is hard to believe, but that can be true using Islamic system banks in these days will help people a lot because it has more and better services than the conventional banks.
There are different types of banks in the world. Now all the attention is on the Islamic banks, which makes me wonder why they getting all this attention now. I
Prince Mohammad Bin Fahd University
Writing & Research, COMM 1312, Section 102
25 January 2010
Abstract
The Islamic banking system is currently spreading fast through many Arab and Muslim countries. The question here Why Islamic banks are getting popular? Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Shariah and the religious teaching underpinning Islamic finance and banking is concerned about justice in financial contracts to ensure that none of the parties is being exploited and this is what the clients want. My methodology in this research for this topic is by searching in books, websites, newspaper articles and asking experts. The results of this research are I have noticed that Islamic Banks have not been severe difficulty and have not been affect so much by the global economic crises. Many people turned to Islamic banks in the last few years especially global financial crisis. Islamic banking system is the best financial alternative after the global financial crisis
The Islamic banking system is currently spreading fast through many Arab and Muslim countries which make us wonder why this is happening. Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Shariah and the religious teaching underpinning. Islamic finance and banking is concerned about justice in financial contracts to ensure that none of the parties is being exploited and this is what the clients want. Maybe it is hard to believe, but that can be true using Islamic system banks in these days will help people a lot because it has more and better services than the conventional banks.
There are different types of banks in the world. Now all the attention is on the Islamic banks, which makes me wonder why they getting all this attention now. I
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