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Banking Structure and Riba-Interest Equation: The Case for Ta’awuni (cooperative) Finance

Show simple item record Farooq, Mohammad Omar 2020-01-13T05:44:56Z 2020-01-13T05:44:56Z 2019-12-01
dc.description.abstract This conceptual paper is provoked by two interrelated queries. (a) Did Islamic finance industry adopt the wrong banking structure by choosing commercial banking as its core structure? (b) Does riba prohibition requires nuanced understanding in case of financing in a mutually beneficial, cooperative framework? Currently adopted banking structure fails to contribute to some imperatives: spreading ownership, shared prosperity, profit sharing beyond transaction level, and adequate risk-sharing. This paper contributes toward filling a gap by raising the issue of compatibility of commercial banking with Islamic imperatives, while dealing with the issue of riba-interest equation in the context of cooperative (Ta’awuni) banking and finance. en_US
dc.rights Attribution-NonCommercial-NoDerivatives 4.0 International *
dc.rights.uri *
dc.subject Banking structure en_US
dc.subject Cooperative finance en_US
dc.subject Ta’awun en_US
dc.subject Credit union en_US
dc.subject Riba-Interest equation en_US
dc.title Banking Structure and Riba-Interest Equation: The Case for Ta’awuni (cooperative) Finance en_US
dc.identifier.doi http: //
dc.volume Volume 5 en_US
dc.issue Issue 2 en_US
dc.contributor.authorcountry Bahrain en_US
dc.contributor.authoraffiliation Department of Economics and Finance, University of Bahrain en_US
dc.source.title Journal of Islamic Financial Studies en_US

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