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Islamic Banking

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Syllabus of the Subject: Islamic Banking and Finance System.

Islam and Global Business. Islamic Economic Areas. Online Education (Courses, Masters, Doctorate)

  1. Introduction to the Islamic Banking and Finance System;
  2. Fundamental Prohibitions: Speculation and Interest Based Loans;
  3. Compliance with the Sharia for financial products and services;
  4. Types of loans in the Islamic Banking: Al-Mudaraba, Al-Murabaha, and Al-Musharaka;
  5. Islamic Banks in the World;
  6. Cases of banks and bankers applying the principles of the Islamic Banking
    1. Islamic Development Bank (IsDB);
    2. Mohammad Abdul Mannan;
    3. Sulaiman Al-Rajhi;
    4. Jawad Ahmed Bukhamseen.

Islamic Banking and Finance (Islamic Civilization)
Islamic Banking Zakat (Course, Master, Doctorate)

Online Arab Student, Master International Business

The Subject “Islamic Banking” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Course: Islam & Business.

Masters (MIB): International Business, Foreign Trade, Religions & Business.

Masters in International Business and Foreign Trade (MIB) - Online Education

Doctorate (DIB): Ethics, Religions & Business, Islamic Business, World Trade.

Professional Doctorate in International Business (DIB). Online Education

Learning materials in Courses, Masters, Doctorate in International Business and Foreign Trade in English or Study Master Doctorate in International Business in Spanish Banca Islámica Study, Course Master Doctorate in International Business in French Banque islamique Masters Foreign Trade in Portuguese Banca Islâmica.

Why study “Islam, Ethics and Business”?.

Sulaiman Al-Rajhi, Saudi Businessman and Philanthropist, Muslim (Master Doctorate, Business Saudi Arabia)

“When the leaders of the World are searching for financial reforms; it is desirable to have a global financial system built on ethical and moral foundations widely accepted for the common good of humanity.” PhD Ahmad Mohamed Ali, President of the Islamic Development Bank

Islamic Banking and Finance.

The Islamic financial system coincides with the international financial system (investment funds and companies, banks, brokers, and investment), but introduces two fundamental prohibitions:

  1. Prohibition of Riba (Interest Based Loans);
  2. Prohibition of Speculation.

Under these two premises are re-defining the banks role in the Islamic Economics. Of course; an Islamic Bank must comply with the Sharia.

An Islamic Bank cannot be a single lender who is not involved in the business, the Islamic Bank should take a more active role, should be a financial partner, the Islamic Bank assumes the risks of the company and therefore have a part of the business ownership.

Recently the Vatican stated that:

The principles of Islamic Finance may represent a possible solution to the global financial crisis.” (Osservatore Romano, March 2009).

Under the Islamic Banking system there are mainly three types of loans:

  1. Al-Mudaraba;
  2. Al-Murabaha;
  3. Al-Musharaka.

If for whatever reason, any of the parties achieved a benefit derived from the Riba then has an obligation to destine it to the charity (Zakat).

Under the principles of the Islamic Economics, the objective of the Islamic Banking is, besides making money, contribute to the wealth distribution in a fair and equitable way, not on speculation. Thus, an Islamic Bank can only offer products and services in accordance with the Sharia law.

The largest Islamic Bank is the “Bank Melli Iran,” followed by the “Al-Rajhi Bank of Saudi Arabia.”

  1. Iran has the world's largest repository of Islamic financial asset;
  2. Six of the ten largest Islamic banks in the World are Iranian.

The International Bank of Kuwait offers services of Islamic Banking.

Mohammad Abdul Mannan. Director of the Islamic Bank of Bangladesh, Sharia principles (Master)

Jawad Bukhamseen, Kuwaiti Businessman, Muslim (Master, Kuwait)

Related information:

  1. Arab Development Funds;
  2. Islamic Chamber of Commerce and Industry (ICCI).

Religions and International Business.

Gita-Ramakrishna Institute of Yoga Science (IGRCY).

(c) EENI Global Business School (1995-2023)
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