Islamic Banking

The law relating to banking practice in Islamic countries is a subject that is of continuing importance. For example, the Koran prohibits the charging of interest and banks frequently have to resort to complex legal arrangements to conduct their business. The central role Islam plays in the politics and economy of a number of financial centres means that the problems are very far from being academic. It was originally written for the Central Bank of Iran and is now to be made available in English.

The credit resources were mostly squandered on the import of foreign goods and
services, promoting consumerism and economic dependence which were
landmarks of the economy of those days. Progress of changes in the banking
system ...