Iran: Islamic Banking and Finance

This chapter delves into Iran's experience in conducting interest-free banking in the last three decades and introduces the challenges and visions ahead. It elaborates on how the Islamic Revolution of 1979 gradually turned the conventional practice of the financial sector in Iran into an integrated framework aimed at a mission within which all operations are required to be Shari'ah-compliant

Farhad Nili

2014

Scholarcy highlights

  • This chapter delves into Iran's experience in conducting interest-free banking in the last three decades and introduces the challenges and visions ahead. It elaborates on how the Islamic Revolution of 1979 gradually turned the conventional practice of the financial sector in Iran into an integrated framework aimed at a mission within which all operations are required to be Shari'ah-compliant
  • The chapter acknowledges that the Iranian banking community lacks an effective line of communication with peer groups to disseminate information on its practices of Islamic banking
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