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Question: Why their was a start of Islamic banking in 2002, although interest has been prohibited almost 1400 years ago.
answer this argument
Step by step
Solved in 3 steps
- Explain with example the differences between Islamic banking and conventional banking,what is the different between islamic banking practices compared to conventional banking practicesIs Islamic banking meant to replace global financial system or the two systems may go parallel? What roles Meezan bank has been playing in Islamic banking of Pakistan and worldwide?
- Mention at least five principles or elements on the basis of which you can differentiate conventional banking from Islamic banking.Explain how the prohibition of riba in Islamic commercial contracts could translate into value propositions for the Islamic banking industryIs Islamic banking really different from conventional?
- Which banking side (Islamic or Conventional) is good for Pakistan's economy? Why?Your task is to give your personal reflection on: Is Islamic banking really different? Which banking side is good for our economy? Why?Which elements of the cultural web are prominent in this account of Rothschild banking?
