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Published in:

Volume 5 Issue 1
January-2018
eISSN: 2349-5162

Unique Identifier

JETIR1801211

Page Number

1113-1121

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Title

Murabahah Practices in Islamic Banking of Iran: Challenges and Solutions

ISSN

2349-5162

Cite This Article

"Murabahah Practices in Islamic Banking of Iran: Challenges and Solutions", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 1, page no.1113-1121, January-2018, Available :http://www.jetir.org/papers/JETIR1801211.pdf

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Abstract

The revolution of Iran played a primary role in establishing Interest-free banking after 1979 in Islamic Republic of Iran. The government passed the law of Interest-free banking in 1983 and in 1984 banks started Islamic banking based on the interest-free law of 1983. The interest free banking system of Islamic Republic of Iran is perceived as an effective tool in achieving of the objectives of Islamic economics. It is difficult to accept that a bank can be run without paying or receiving interest and without the involvement of interest banks will play any role in economic development. There are various modes and principles in Islamic banking like Mudharbah, Musharka, Murabaha,Ijarah etc. Murabaha in practice is ambiguous, translucent and usurious in disguise. This paper is an attempt to study the challenges of Murabaha practices in Interest-free banking of Islamic Republic of Iran and suggesting possible solutions.

Key Words

Murabahah, usury (Interest), Shari’ah (Islamic Laws),Halal (Permissible), Batil (Not-Permissible)

Cite This Article

"Murabahah Practices in Islamic Banking of Iran: Challenges and Solutions", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 1, page no. pp1113-1121, January-2018, Available at : http://www.jetir.org/papers/JETIR1801211.pdf

Publication Details

Published Paper ID: JETIR1801211
Registration ID: 229360
Published In: Volume 5 | Issue 1 | Year January-2018
DOI (Digital Object Identifier):
Page No: 1113-1121
ISSN Number: 2349-5162

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Cite This Article

"Murabahah Practices in Islamic Banking of Iran: Challenges and Solutions", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 1, page no. pp1113-1121, January-2018, Available at : http://www.jetir.org/papers/JETIR1801211.pdf




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