Salma Ahmed
English Lit. GCSE Student
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Islamic Banking
- Words:
- 1235
- Submitted:
- Fri May 01 2009
- Mark submitted by Author:
Have a little read: ... [Writer Name] [Supervisor Name] [Subject] [Date] Comparison between Islamic Banking and Conventional Banking Introduction As far as commercial banking is referred, there are two main differences from the traditional approaches (conventional or Islamic), and these are very significant evolutions. One is that this method believes commercial banks as serving providers, rather of like "money lenders" (conventional) or "investing-collaborators" (Islamic). Interest-free banking is inferred as a sub-model; the conventional banking is considered as an "inflation-free" sub-example of the common model. These differences make possible one to wipe out riba from the method without recurring to radical evaluations, and still have an entirely executable method attuned with the conventional one. Successively, this characteristic creates the new method easy to empathize and to explicate, and hence easy to enforce in all countries. The philosophic re-orientation, technical adaptations, and the re-training of staff needed for the transformation above from the conventional to the anticipated method are also least. More
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