islamic banking regulation theory and concepts of islamic banking

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1、GE32103/Topic2OUTLINE
Introduction
PhilosophyofIslamicbusinessTHEORYANDandbanksCONCEPTSOF
ObjectivesofIslamicbanksISLAMICBANKINGPUANIDASHAFINAZMOHAMEDKAMILTOPIC2GE32103ismk/GE32103/Topic22INTRODUCTIONCONT.
Islamicbankingismorethanjustthenotion
Islamicbanksaretheendproductofthethatinterest

2、isforbidden;italsomeansIslamicinsurgenceduringtheend1960sandthatwealthistobesharedbyputtingearly1970s.moneytoproductiveuseandassumingrisks.
ThisperiodsawattemptstotransformtheeconomyfromacapitalisttoanIslamiceconomicorder.
Islamicbanks’objectivesandphilosophies,therefore,needtobeinlinewit

3、htherevelationsintheQuranandHadith.
IslamicbanksweregivenalotofattentionsincetheeliminationofinterestwasparamountintheIslamisationoftheeconomy.ismk/GE32103/Topic23ismk/GE32103/Topic24CONT.PHILOSOPHYOFISLAMICBUSINESSANDBANKS
AnIslamicbankistobeguidedbythephilosophiesofIslamicbusinessbecaus

4、e:
Islamicbanksaremainlybasedontheprinciplesofmudharabahor‘mutualThesephilosophiesaretobeusedbythefunds’wheretheshareholders,depositors,managementorpolicymakersoftheinvestors,borrowersandemployeesofthebanksintheprocessofformulatingbanksharethefruitsofthesystem.corporateobjectivesandpolic

5、ies;and
TheguidingprincipleisthatIslampermitsThesephilosophiesindicatewhetherandencouragesitsfollowerstoinvolveinIslamicbankisupholdingtrueIslamictradeactivities.principles.ismk/GE32103/Topic25ismk/GE32103/Topic261GE32103/Topic2CONT.CONT.
TheQuraninverse275,Surahal-Baqarah:
Verse278,Sura

6、hal-Baqarahstates:2َوأََ>Eا8DُّCا8Aَْ@َ>َوَ>7َمِا78ّ4َIَ2أَSَU2ا8ِTَSRَآKُPْNااOُJْNاا8DَّCَوَذُرْواَK24َِJَS“ButAllahhathpermittedtradeandR@ِKَRِا78ّ4َ2إُِنZُPYXKْWِKِPَforbiddenusury…”“OYouwhobelieve!FearAllahandwaivewhatisstillduetoyoufromusuryifyouareindeedbelievers.”ismk/GE32103/Topi

7、c27ismk/GE32103/Topic28CONT.CONT.
Verse130ofSurahal-Imranprovides:
TheestablishmentofIslamicbanksisrightasits2a2َ2أَSَU2ا8ِTَSRَآKُPَNاeOَْdُZِDُNاا78ّ4َ2أَْcَbًSexistenceisinlinewiththedivinerevelation,thatis,tobeinvolvedintrade,andprovidesanُKَlَ2kَgَjًۖواOُJNاا8D