It would not be wrong to say that Islamic banking is in reality Islamic law; the rest is banking. At the heart of this new field lies the Islamic law of contracts. This area has been assigned a separate section in the Islamic Law Infobase. Here we will be concerned with how those contracts are being applied by Islamic banks and how they have been approved by their Shari`ah Boards. A lot, therefore, depends on the kind of information provided by the banks themselves. The Institute plans to approach all Islamic banks for information so that the most accurate material is placed on this page. Failing that, the Institute will have to depend upon second hand information.

 

1. Murabahah and the Credit Sale (Part of Islamic banking Series)

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