Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)


Islamic banks between reality and challenges

Author(s): Mohammed Yousif Oudah Al-Muttar

A bank is a financial institution, with the stated objective of facilitating financial transactions for clients, and keeping and operating funds. Banks originated and developed in Europe over a period of 400 years, but when they moved to Islamic societies, they faced rejection from religious Muslims because the nature of their work violates the rules of Islamic dealing in several respects, the most important of which is dealing with usury (interest), in addition to many other detailed aspects. That is why Islamic banks faced great difficulties and challenges in terms of support and marketing, and for this reason Islamic banks were addressed in this study for the purpose of analyzing these problems and challenges and developing effective solutions to them.

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