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Role of Islamic banks in economic development

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  • saleem, shahid

Abstract

The purpose of this working paper is to give the real meaning of DEVELOPMENT from Islamic perspective. Most of Muslim countries are LDCs and using the religious and social ideology of Islam is very useful to establish institutions and to bring moral and ethical change for development in these countries. Islam appears to be the only dynamic religion and tells us about prevention of interest, similar to Christian and Jewish theologies. But at the same time gives a comprehensive setoff trade and financing modes, not easily and completely described in any other religion or social order. Even TFP, a modern concept for collective efficiency has been advised in Islam, shunning to self interest and individualism of materialistic economics. Some scholars of WEST consider use of Islamic banking more suitable for economic development, while others consider Islam as obstacle & threat to development of Muslim countries. I hope that the paper will be useful in this regard to provide another valuable theoretical dimension to this field of study………

Suggested Citation

  • saleem, shahid, 2007. "Role of Islamic banks in economic development," MPRA Paper 7332, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:7332
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    File URL: https://mpra.ub.uni-muenchen.de/7332/2/MPRA_paper_7332.pdf
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    References listed on IDEAS

    as
    1. Mr. Abbas Mirakhor & Mr. Mohsin S. Khan, 1991. "Islamic Banking," IMF Working Papers 1991/088, International Monetary Fund.
    2. Muhammad Arshad Khan & Abdul Qayyum & Saeed Ahmed Sheikh, 2005. "Financial Development and Economic Growth: The Case of Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 44(4), pages 819-837.
    3. Khan, Mohsin S & Mirakhor, Abbas, 1990. "Islamic Banking: Experiences in the Islamic Republic of Iran and in Pakistan," Economic Development and Cultural Change, University of Chicago Press, vol. 38(2), pages 353-375, January.
    4. saleem, shahid, 2007. "International Islamic Banking," MPRA Paper 6635, University Library of Munich, Germany.
    5. Hasan, Zubair, 1995. "Economic Development in Islamic Perspective: Concept, Objectives, and Some Issues," MPRA Paper 3011, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Abdul Qadir Patoli & Salman Ahmed Sheikh, 2012. "Analysis Of Enviroment Conducive For Islamic Banking & Finance: A Case Of Tando Allahyar," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 8(1), pages 19-30.
    2. Nizar, Muhammad Afdi, 2007. "Analisis Pengaruh Imbal Hasil Dan Suku Bunga Terhadap Tabungan (Saving Deposits) Bank Syari’Ah Dan Bank Konvensional Di Indonesia [Effect Of Return And Interest Rates On Saving Deposits Syari'Ah An," MPRA Paper 65612, University Library of Munich, Germany.
    3. Abdul Qadir Patoli & Salman Ahmed Sheikh, 2012. "Analysis Of Enviroment Conducive For Islamic Banking & Finance: A Case Of Tando Allahyar," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 8(1), pages 8-3.

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    More about this item

    Keywords

    Islamic; Banking; Comparison; Pakistan; SHAHID; economic; development;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • P4 - Political Economy and Comparative Economic Systems - - Other Economic Systems

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