Islamic banking: Some
misconceptions
Published : Wednesday,
01 May 2013
Khaled Mahmud Raihan Financial Express
If you ask someone
about Islamic banking, he will probably mumble something about religion. It is
the universal belief of the common people that Islamic banks do not charge
interest but use something else which is the same. This "something
else", interestingly, is never defined.
Unfortunately, this stereotyped image is also prevalent within the banking
community as well due to overwhelmed interest-based banking in the economic
system. In reality, the concept of Islamic banking cannot be defined so
precisely.
