Business, Management and Accounting
5 years ago

Islamic Banks Revolutionize Global Economy with Interest-Free Services Expansion.

Journal of Reviews on Global Economics
Islamic Banks in the Global Economy with Special Reference to in CIS Countries
V.V. Antropov, Irina А. Strelkova

Paper Summary

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Islamic banks are a unique type of banking that operates without charging interest to customers. The article explores why Islamic banks exist, how they have grown globally, and their differences from regular banks. It also looks at how Islamic banks work in practice and the challenges they face in expanding to non-Muslim countries. The article specifically examines Islamic banks in CIS countries and their successes in the post-Soviet region.