This paper is published in Volume-5, Issue-3, 2019
Javed Aslam
Syscoms College, Abu Dhabi, United Arab Emirates, India
Pub. Date
25 May, 2019
Paper ID
Islamic banking, Sharia'h laws, Mudarabah, Financial development


Javed Aslam. Islamic banking role in economic growth and development, International Journal of Advance Research, Ideas and Innovations in Technology,

Javed Aslam (2019). Islamic banking role in economic growth and development. International Journal of Advance Research, Ideas and Innovations in Technology, 5(3)

Javed Aslam. "Islamic banking role in economic growth and development." International Journal of Advance Research, Ideas and Innovations in Technology 5.3 (2019).


The banking, venture, and loaning rehearse embraced by Islamic banks have as of late drawn the consideration of numerous specialists and experts. This is particularly after it developed that these money related organizations that apply the Islamic financial model performed better amid the ongoing worldwide money related emergency in 2008 when contrasted with their partners that utilize the ordinary banking rehearses. Islamic banking is a financial framework that works as per Sharia'h laws, which deny charging or getting premiums or putting resources into items and subordinates that are restricted in Islam. Rather, the laws energize benefit and misfortune sharing as opposed to the exchange of dangers. The banks give various money related items in various modes that look like numerous items in customary banking. The Islamic banks did moderately well in contrast with their regular partners amid the budgetary emergency. The exhibition could be to a great extent credited to the financial framework that debilitates showcase theory and pointless dangers while supporting for straightforward money related exchanges dependent on common additions from genuine financial exercises. Other than its clear flexibility amid the worldwide money related emergency, the Islamic financial model has been related with the positive financial development saw in the economies of Malaysia and Joined Arabs Emirates in the previous three decades. There is a need for budgetary foundations, business establishments, administrative experts and buyers to investigate explicit methodologies that would establish attractive highlights for steady and compelling money related framework. The current look into tried to follow the improvement and method of reasoning of the Islamic Banking model just as distinguish the most critical and remarkable qualities that have encouraged the strength of the Islamic Banking area to monetary stuns amid the ongoing worldwide subsidence. Albeit Islamic banks performed altogether better in the worldwide budgetary emergency, they were later fundamentally influenced by the despondency that hit the genuine economy for some nations. Certain loaning rehearses, what's more, venture the board rules following Islamic financial standards rise as being alluring for improving the flexibility and adequacy of business banks for continued financial development and dependability.