Introduction

Angelo M. Venardos

Chapter 1 in Islamic Banking and Finance in South-East Asia:Its Development and Future, 2005, pp 1-9 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe key feature, or principle, that distinguishes Islamic banks from any other kind of bank is the rejection of interest-based financial transactions. The Quran's ban on giving or receiving interest is known to all devout Muslims. The words from Chapter 2, Verse 278 of the Quran are, in fact, quite specific: “O you who believe! Have fear of Allah and give up what remains of what is due to you of usury. … If you do not, then take notice of war from Allah and His Messenger.”.

Keywords: Islamic; Banking; Finance; South-East Asia (search for similar items in EconPapers)
Date: 2005
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