Islamic Finance- An Elixir to Financial Crisis

Authors

  • Priya Rao Assistant Professor, Jazan University, Kingdom of Saudi Arabia

DOI:

https://doi.org/10.17722/ijrbt.v5i1.217

Keywords:

Islamic Finance, Shariah, financial crisis, conventional banking

Abstract

This paper provides the general idea on Islamic Finance, covering the history and the legislative framework. The paper also covers various aspects of Islamic Finance, and variation of Islamic Banking from conventional banks. The paper concludes that Islamic Finance is panacea for financial crisis and has proved to be one of the safer approaches as it seeks to reduce concentration of wealth in a few hands, which may be detrimental to society.

Published

2014-08-31