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Is the principle of banking in Islam possible?

The following is my answer to a Quora question: “Is the principle of banking in Islam possible?” Islamic banking has two primary principles: the equitable sharing of profit and loss in any venture, and the prohibition of riba’, usury. In principle, these are equitable considerations, and praiseworthy. The contentions of Islamic banking is not theContinue reading “Is the principle of banking in Islam possible?”

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“Is Islamic banking viable?”

The following is my answer to a Quora question: “Is Islamic banking viable?” If by viable, you mean to ask if there is there a market for it, then it is because enough people believe in it for it to exist. It is a growing field, and it is evolving. If by viable, you meanContinue reading ““Is Islamic banking viable?””