islamic banking system Tag

Posted On April 3, 2017By Mohd Faizal Mohd NorIn Featured Writers

Islamic banks; are we discussing the real issue?

This week alone, I came across a few articles and tutorial videos from prominent figures in our country. One side was arguing that the aqad of specific transactions practiced by most Islamic banks are prohibited or haram, while the other side is advocating the current practice of Islamic banking. Unfortunately, none of the scholars ever mentioned the problem lies with the banking system itself. In one of the tutorial videos I have watched, this famous scholar explained how banks (including Islamic banks) function as financial intermediaries to fill the gapRead More