Islamic banking

This refers to the article" Worried Over Meltdown" by Dr. Farooq A Shah. The writer has almost exposed the root causes of the frequent Global Economic Downturns quite vividly. It is indeed a fact that interest motive is guiding the whole system blindly. The remedy of the problem certainly lies in the profit and loss sharing and not in accrual of interest. And by this it is crystal clear that the potential substitute to conventional banking in contemporary global financial scenario is somehow the Islamic mechanism of interest free banking.

Shoukat kukroosa
rathershoukat33@hotmail.com

Lastupdate on : Tue, 17 Jan 2012 21:30:00 Makkah time
Lastupdate on : Tue, 17 Jan 2012 18:30:00 GMT
Lastupdate on : Wed, 18 Jan 2012 00:00:00 IST



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