Volker Nienhaus: Profitability of Islamic Banks Competing with Interest Banks, Comment: M. Fahim Khan فولكر نينهاوس: ربحية البنوك الإسلامية تتنافس مع بنوك الفائدة - تعليق: محمد فهيم خان

M. Fahim Khan ()
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M. Fahim Khan: Islamic Development Bank, Jeddah, Saudi Arabia

Journal of Research in Islamic Economics, 1984, vol. 1, issue 2, 69-73

Abstract: It is true that experimenting with interest-free banking within the existing framework of interest-based banking and monetary system without making necessary institutional changes puts the experiment at a disadvantage. The inadequacy of the existing accounting and auditing system (the practice of under-reporting profit) and of the legal frame work (to allow profit shared with the financier to be a cost for tax purpose) are some of the major hurdles in the success of the experiment. To this extent, there can be no disagreement with Nienhaus. The specific conclusions drawn by him, however, are not acceptable in the context he has described them. --

Date: 1984
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