Islamic finance is an old concept but a very young discipline in the academic sense. It lacks the required extent and level of theories and models needed for expansion and implementation of the framework provided by Islam. In these circumstances, unawareness and confusion exist as to the form of the Islamic financial system and instruments. The main difference between the present economic system and the Islamic economic system is that the later is based on keeping in view certain social objectives for the benefit of human beings and society. Islam, through its various principles, guides human life and ensures free enterprise and trade. That is the reason why the conventional banker does not have to be concerned with the moral implications of the business venture for which money is lent.
This is a preview of subscription content, log in to check access.
Buy single article
Instant access to the full article PDF.
Price includes VAT for USA
Subscribe to journal
Immediate online access to all issues from 2019. Subscription will auto renew annually.
This is the net price. Taxes to be calculated in checkout.
Free interest banking in convergence with international banking; 19 congress of Islamic banking articles; Iranian high educational complex of banking, Tehran, 2004.
Ibid, pp. 123–127.
Ibid, pp. 34–39.
Articles presented to 18 congress of Islamic banking, Central Bank of Islamic republic of Iran publisher, Tehran, 2007, p. 134.
First Iranian financial institution (After Islamic revolution) established in 1994.
Ibid, p. 46.
Ibid, p. 79.
Ibid, p. 64.
Hassan, Z., & Nasrin, A. C. (2003). Four articles on central bank of Islamic republic of Iran. Tehran: Central Bank of Islamic republic of Iran publisher.
Karimi, M., Hedayati, A., Sasan Gahar, P., Tabibyan, M., Sabzevari, H., & Omidi Nejad, M. (2003). Experience of two decades Islamic banking and the challenges ahead, theoretical, structural and executive aspects. Tehran: Central Bank of Iran publisher.
Khavari, M. R. (2004). Bank law. Tehran: Iranian central bank publisher.
Makiyan, N. (2003). Islamic banking system in Iran: Its experience in lending operations. Tehran: Iranian Economic Review, 8(9).
Mosavian, A. (2002). Islamic banking. Tehran: Central Bank of Islamic republic of Iran publisher.
Rashidi, M. (2008). The Islamic banking with emphasis on risk management of foreign currency fluctuations and interest. Tehran: Central Bank of Islamic republic of Iran publisher.
Shabani, A., & Farzinvash, A. (2003). The contracts in Islamic banking. Tehran: Central Bank of Islamic republic of Iran publisher.
Taheri, M. R. (2006). The identification of Islamic banking in the world: http://www.donya-e-eqtesad.com/Default_view.asp?@=6491.
Totonchian, I. (2006). Money and Islamic banking. Tehran: Tavangaran publisher.
Zangeneh, H. (2004). Economic stability and the central bank: Rule or discretion. Tehran: Iranian Economic Review, 9(10).
About this article
Cite this article
Zarrokh, E. Iranian Islamic banking. Eur J Law Econ 29, 177–193 (2010). https://doi.org/10.1007/s10657-009-9116-8
- Islamic banking
- Iranian law
- QARDE AL’HASANA