Islamic Banking and Finance - 9783843389433

To replace interest, the ideal mode of financing under the Islamic banking system is "Financing on Profit & Loss Sharing" (PLS) basis. Qard Hasanah are for the benefit of the individuals and the society at large. To safe-guard the interest of depositors/investors, these type of loans, as a matter of policy, do not constitute a significant source of financing by Islamic banks. However, if in any country, the Islamic System of Zakat is established and the Islamic State treasury starts functioning, the requirements of Qard Hasanah would primarily be met by the treasury.

Author: Zubair Hussain

Publisher: LAP Lambert Academic Publishing

Publication Date: Dec 29, 2010

Number of Pages: 64 pages

Binding: Paperback or Softback

ISBN-10: 3843389438

ISBN-13: 9783843389433