present practices of islamic bank
Present Practices of Islamic banks: It is some time argued against the Islamic financial system that the Islamic banks and financial institutions,working since last three decades,didn't bring any visible change in the economic setup,not even in the field of financing. this indicates that the boastful claims of creating 'distributive justice' under the umbrella of Islamic banking are exaggerated. This criticism is not realistic, because it does not take into account the fact that, in proportion to the conventional banking, the Islamic banks and financial institutions are no more than a small drop in an ocean,and therefore, they cannot be supposed to revolutionize the economy in a short period. secondly, these institutions are passing through their age of infancy. they have to work under a large number of constraints, therefore, some of them have not been able to comply with all the requirements of shariah in all their transactions, therefore, each and ...