|
|
|
Islamic banking and the finance industry is growing at an annual rate of twenty percent.One of the unique and salient characteristics of Islamic banks is that the integration of ethical and moral values with its banking operation.In contrast with conventional banks, Islamic banks do not consider only the credit worthiness and interest rate as standards; instead they must apply Islamic moral/ethical criteria in their provision of financing. This adds another merit for Islamic banks since there is a beneficial impact on the productivity in the economy as it reduces the social and economic cost of such harmful products and activities. |
IP Logged
|
