Encyclopedia of Women & Islamic Cultures

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Economics: Islamic Banks: Overview
(2,000 words)

Islamic banking is a form of banking that is primarily based on profit and loss sharing (PLS) without the mechanism of interest. For proponents of Islamic banking, interest constitutes ribā, which is explicitly prohibited in the Qurʾān (2:275–8, 3:130, 4:161) and the traditions of the Prophet (sunna). This entry first provides an overview of Islamic banking and then comments on some areas specific to women, bearing in mind that there is very little research on the role of women in Islamic banking at this stage.

Muslim economists arg…

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Saeed, Abdullah, “Economics: Islamic Banks: Overview”, in: Encyclopedia of Women & Islamic Cultures, General Editor Suad Joseph. Consulted online on 29 February 2024 <http://dx.doi.org/10.1163/1872-5309_ewic_EWICCOM_0235>
First published online: 2009

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