among the proponents of Islamic Banking there appears to be no consensus about defining the role of Central Reserves Bank and the regulations for the commercial banks, mortgages, gold bonds, advent of plastic and paper money under fiat currency system and dealings with inflation and International Banking. The efforts to evolve the standard sets of principles, terminology, procedures, laws and regulations and to educate people are disjointed. Arabic terminology is used to describe the products and practices. Talk about formation of Islamic Monetary Fund confines to academic discussion. - See more at: paklink.biz/articles/IslamicBanking.html#sthash.4h1MzA9a.dpuf
Posted on: Tue, 11 Mar 2014 05:54:22 +0000
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