Participatory Financing Through Investment Banks and Commercial Banks

ISBN: 9830650405
Author: Abdul Gafoor
Publisher: A S Noordeen (Malaysia)
Pages: 112 Binding: Paperback

Description from the publisher:

This is a second of a series of three books which, taken together, are expected t provide a comprehensive banking system that addresses the concerns and needs of Muslims today. The otherTitles are: Interest –free Commercial Banking and Commercial Banking in the presence of Inflation.In the system time and saving deposits will not bear any interest but the capital will be guaranteed.This is fine if the depositor’s main aim is to keep his saving safe. But what if his primary aim is to use this capital to earn an income? Islam prohibits interest earning. He could engage himself in some trade whichIslam permits ----- on his own or in partnership with others, even as a sleeping partner------ but it may not be possible for many for personal reason or for the reasons of the modern day environment. Exploring thePossibilities of accommodating such capital holders through a bank is the subject of this book.Studying the type and size of such capital and their owner’ geographical distribution in the land,And the type, size and the distribution characteristic of investment opportunities, this book presents a singleScheme with several options for bringing capital and entrepreneur together through bank in a mutually beneficial and responsible manner. The scheme can be offered through investment companies as well.