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Published in:

Volume 5 Issue 4
April-2018
eISSN: 2349-5162

Unique Identifier

JETIR1809881

Page Number

579-586

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Title

Interest Free Banking in Iran: Challenges and Prospects

ISSN

2349-5162

Cite This Article

"Interest Free Banking in Iran: Challenges and Prospects", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 4, page no.579-586, April-2018, Available :http://www.jetir.org/papers/JETIR1809881.pdf

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Abstract

The revolution of Iran played a primary role in converting the conventional banking in Interest-free banking after 1979 in Islamic Republic of Iran. The government in 1983 passed the law of Interest-free banking, and in 1984 banks started Islamic banking based on the 1983 interest-free law. 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. The interest free banking system of Islamic Republic of Iran is perceived as an effective tool in achieving of the objectives of Islamic economics. This paper is an attempt to study Interest-free banking of Islamic Republic of Iran along with products offered. Furthermore, challenges and prospects will be focused. Finally, suggestions for the improvement of the performance of these banks will be mentioned.

Key Words

Interest, Islam, Islamic Banking, Law.

Cite This Article

"Interest Free Banking in Iran: Challenges and Prospects", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 4, page no. pp579-586, April-2018, Available at : http://www.jetir.org/papers/JETIR1809881.pdf

Publication Details

Published Paper ID: JETIR1809881
Registration ID: 229359
Published In: Volume 5 | Issue 4 | Year April-2018
DOI (Digital Object Identifier):
Page No: 579-586
ISSN Number: 2349-5162

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Cite This Article

"Interest Free Banking in Iran: Challenges and Prospects", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 4, page no. pp579-586, April-2018, Available at : http://www.jetir.org/papers/JETIR1809881.pdf




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