A Comparative Study of Banking in the West and in Islam

Business & Finance, Finance & Investing, Banks & Banking
Cover of the book A Comparative Study of Banking in the West and in Islam by Cheikh Soumare, Xlibris US
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Cheikh Soumare ISBN: 9781503583573
Publisher: Xlibris US Publication: July 8, 2015
Imprint: Xlibris US Language: English
Author: Cheikh Soumare
ISBN: 9781503583573
Publisher: Xlibris US
Publication: July 8, 2015
Imprint: Xlibris US
Language: English

A Comparative Study of Banking in the West and in Islam, by Cheikh Abdou Khadr Soumare, traces the history of European banking from the Middle Ages until today. Beginning with the ancient origins of the institution of banking itself, Soumare describes how two schools of banking emerged: Islamic and Western. The study demonstrates how the trade practices of the Islamic world influenced European banking at its inception, and how Islam and Christendom dealt differently with their mutual prohibition of usury, with the West gradually loosening the ban while Islam maintained it into the nineteenth century. Despite this apparent handicap, commerce flourished in the Islamic world, thanks to the invention of alternative commercial techniques such as the form of investment partnership known as mudaraba, characterized by small size and decentralized decision-makingits strengthbut also a weakness in competition with the massive volume of private investment Western deposit banks could generate. The author poses the idea that perhaps a transformed version of this ancient model could resolve the paradox and open contemporary Islamic commerce to almost unlimited growth.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

A Comparative Study of Banking in the West and in Islam, by Cheikh Abdou Khadr Soumare, traces the history of European banking from the Middle Ages until today. Beginning with the ancient origins of the institution of banking itself, Soumare describes how two schools of banking emerged: Islamic and Western. The study demonstrates how the trade practices of the Islamic world influenced European banking at its inception, and how Islam and Christendom dealt differently with their mutual prohibition of usury, with the West gradually loosening the ban while Islam maintained it into the nineteenth century. Despite this apparent handicap, commerce flourished in the Islamic world, thanks to the invention of alternative commercial techniques such as the form of investment partnership known as mudaraba, characterized by small size and decentralized decision-makingits strengthbut also a weakness in competition with the massive volume of private investment Western deposit banks could generate. The author poses the idea that perhaps a transformed version of this ancient model could resolve the paradox and open contemporary Islamic commerce to almost unlimited growth.

More books from Xlibris US

Cover of the book Fire Unextinguished by Cheikh Soumare
Cover of the book On the Banks of River Godavari by Cheikh Soumare
Cover of the book Of Men, Women and Horses by Cheikh Soumare
Cover of the book Haiti's Broken Covenant by Cheikh Soumare
Cover of the book Dishonored Vows by Cheikh Soumare
Cover of the book Of Time and Destiny by Cheikh Soumare
Cover of the book Pre-Famine Ireland: Social Structure by Cheikh Soumare
Cover of the book Vivid Memories of an Interesting Life by Cheikh Soumare
Cover of the book A Romanian Immigrant Pioneer, Trailblazer, and Champion in Helping Humanity and the Better Good by Cheikh Soumare
Cover of the book If Only Today by Cheikh Soumare
Cover of the book The Doubter by Cheikh Soumare
Cover of the book Cloud-Beam Medley by Cheikh Soumare
Cover of the book Have You No Scar by Cheikh Soumare
Cover of the book Change by Cheikh Soumare
Cover of the book The Bible by Cheikh Soumare
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy