Bitcoin in Islamic Banking and Finance

Bitcoin and Islamic Finance

It is argued that a Bitcoin-style money-like informational commodity may constitute an effective instrument for the further development of Islamic Finance. The argument involves the following elements: (i) an application of circulation theory to Bitcoin with the objective to establish the implausibility of interest payment in connection with Bitcoin, (ii) viewing a Bitcoin-like system as a mone...

Islamic Shari'a Concepts governing Islamic Banking finance

Introduction It is submitted that accepting Islamic Banking within the western regulatory framework has encountered many impediments. A conventional bank is an institution that holds a banking license issued by banks' regulatory authorities which authorizes the chartered institution to conduct fundamental banking services such as receiving deposits, making loans, providing and saving account se...

Ethics, Practice, and Future of Islamic Banking and Finance

Over the past thirty years, investment funds constructed to reflect the social, ethical, and environmental (SEE) concerns of modern-day investors have become considerable forces in financial markets. In the United States alone, socially responsible investing (SRI) is the fastest growing segment of financial markets and in 2007 represented over 11 percent of all assets under professional managem...

A Basic Guide to Contemporary Islamic Banking and Finance

I was asked by ISNA to produce a short guide to Islamic Banking and Finance for the Muslims of North America. To keep this guide short, we had to define our target audience rather carefully. This introductory guide is meant to address the Muslim who is familiar with the fundamental tenets and sources of legislation in Islam. The reader is not assumed to have elaborate prior knowledge of Islamic...

International Journal of Excellence in Islamic Banking and Finance Islamic Banking Service Quality and Withdrawal Risk: The Indonesian Experience