A research paper on Islamic Banking

Published under category: Sample Essays | 2015-02-03 09:07:25 UTC

Context: Islam and Banking

The principle of banking is associated with western style commercial banks whose major source of revenue is interest on loaned capital. One can hardly think of a bank that operates and is financially adequate without the use of lending tools of a commercial bank. However, Islamic banking, which is the practice of banking within the rules of the Quran, does not earn revenue from interests on capital. That said, essays and research papers on Islamic banking are common in United States colleges and universities. A student will often order a dissertation on Islamic banking online. Junior college students also often buy thesis papers or reports on Islamic banking. It is therefore important to note that you do not have to write your essay on Islamic banking when you have other academic tasks to undertake. Even when the paper is due in a few hours, an online writing website like this one will complete your paper in less than 24 hours, or even less than 8 hours. Look for an essay writing service that will deliver papers free of plagiarism in time. The following is a preamble to almost any kind of paper on Islamic banking. A paper on banking within religious requirements might starts as the following: The idea of banking has been in the business world for a long time. This idea has been improved over time to best serve the interests of the customer. In some cases, it has been established in line with the religious affiliation that the customers have been classified to fall into. Islamic banking is one such bank. It operates on the guidelines of the holy book of Quran. The bank was established in Malaysia. It is considered as one of the banks that cover the implementation of the financial principals embedded in the Quran. The paper looks at the ideas of Islamic banking in detail. The paper will offer a clear understanding of the term Islamic banking. It will cover the introduction of this idea into the world of banking and its establishment. It will go further to credit the fact that this is a form of banking that should be acceptable, is operational within the basic principles of modern banking. It covers the differences that exist in modern banking in relation to Islamic banking. The paper further looks at the basic principals within banking that are related to the ideas in Quran that are the basic guiding principles of this form of banking. Finally, the paper has been divided into two parts the basic understanding of the operations of the concept of Islamic banking and finally the crediting of this idea as workable. The second part of the paper seeks to show that the approach can be applicable in real life operations. Islamic banking is in so many ways similar to modern banking, but the differences as will be seen in the paper are in line with the Quran. Islamic banking is banking in line with the sharia laws and the practices that are line with the development of Islamic economics. The activities that have been considered as Islamic banking would be following in the line of Shariah, Islamic law of transactions. These rules that are considered as Islamic laws of transaction, figh muamalat, trace their origin from the Quran and the Sunnah. It can also find roots among other secondary sources in the Islamic law. Among them being opinions that have been given consent collectively by Shariah scholars, analogy, and personal reasoning. Islamic banking draws its roots from all these ideas, which collectively, are referred to as figh muamalat. In so many ways, the Islamic banking and the modern banking are related. This has been a source of confusion for many people especially if they do not understand the difference. To Muslims, money alone does not have value. That is to say, that money can be used to acquire wealth but at no point is it allowed that one uses money to make more money. Simply put in an analogy a Muslim cannot lead money to, or borrow from somebody with an expectation of gaining interest. This is a practice that is not seen in the commercial banks that are not affiliated with the Islam. Another difference would be the avoidance of concepts such as riba or gharar. That is to say, Muslims do not accept interests or engage in activities that have excessive uncertainty. It can be interpreted as saying that instead of a bank charging an interest on financials given out: Islamic banks finance based on musyarakah and will share any profit and loss. Many writing services in the US, the UK, Canada, and Australia offer essays on Islamic banking. However, to have a well-written essay on Islamic banking delivered to you in record time, order at writingspro. This website will provide you with a professional level paper on Islamic banking or any other paper you might think of. Whether it’s a report, dissertation , research paper, argumentative essay, or a simple essay, you are at the right website. ORDER PLAGIARISM FREE PAPER