Investment accounts among conventional banking accounts: simulation or innovation
Initiation of joint investment accounts operating on a profit and loss sharing basis could be regarded as a major innovation by Islamic banks in the practice of Islamic finance. Provided as an alternative to conventional interest based accounts such as fixed deposit accounts and saving accounts, th...
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| Format: | Proceeding Paper |
| Language: | English |
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WorldConferences.net
2017
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| Online Access: | http://irep.iium.edu.my/60269/ http://irep.iium.edu.my/60269/12/60269-INVESTMENT%20ACCOUNTS%20AMONG%20CONVENTIONAL%20BANKING.pdf |
| _version_ | 1848785461912272896 |
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| author | Sadique, Muhammad Abdurrahman |
| author_facet | Sadique, Muhammad Abdurrahman |
| author_sort | Sadique, Muhammad Abdurrahman |
| building | IIUM Repository |
| collection | Online Access |
| description | Initiation of joint investment accounts operating on a profit and loss sharing basis could be regarded as a major innovation by Islamic banks in the practice of Islamic finance. Provided as an alternative to conventional interest based accounts such as fixed deposit accounts and saving accounts, these facilitate clients to invest their surplus resources through the mediation of the bank for realising profits. Operation of equity accounts where investment is done by the public at varying points of time for jointly sharing in profit and loss periodically involves several aspects ofIslamic legal importance concerning joint investment. While the modus operandi of investment accounts appear to have gained market acceptance, theoretical and Shari‘ah aspects continue to demand the interest of academics. Whether these accounts differ from conventional bank accounts in substance and outcome as well as Shari‘ah validity may vary depending on diverse factors, and requires careful individual scrutiny. |
| first_indexed | 2025-11-14T16:53:31Z |
| format | Proceeding Paper |
| id | iium-60269 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T16:53:31Z |
| publishDate | 2017 |
| publisher | WorldConferences.net |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-602692019-01-31T08:17:24Z http://irep.iium.edu.my/60269/ Investment accounts among conventional banking accounts: simulation or innovation Sadique, Muhammad Abdurrahman HG1501 Banking HG3368 Islamic Banking and Finance KBP639 Muʻāmalāt Initiation of joint investment accounts operating on a profit and loss sharing basis could be regarded as a major innovation by Islamic banks in the practice of Islamic finance. Provided as an alternative to conventional interest based accounts such as fixed deposit accounts and saving accounts, these facilitate clients to invest their surplus resources through the mediation of the bank for realising profits. Operation of equity accounts where investment is done by the public at varying points of time for jointly sharing in profit and loss periodically involves several aspects ofIslamic legal importance concerning joint investment. While the modus operandi of investment accounts appear to have gained market acceptance, theoretical and Shari‘ah aspects continue to demand the interest of academics. Whether these accounts differ from conventional bank accounts in substance and outcome as well as Shari‘ah validity may vary depending on diverse factors, and requires careful individual scrutiny. WorldConferences.net 2017 Proceeding Paper PeerReviewed application/pdf en http://irep.iium.edu.my/60269/12/60269-INVESTMENT%20ACCOUNTS%20AMONG%20CONVENTIONAL%20BANKING.pdf Sadique, Muhammad Abdurrahman (2017) Investment accounts among conventional banking accounts: simulation or innovation. In: 6th International Conference On Social Sciences Research 2017 (ICSSR 2017), 4th December 2017, Kuala Lumpur. https://worldconferences.net/proceedings/icssr2017/Fullpaper%20(Disember)/ICSSR%20Format1.pdf |
| spellingShingle | HG1501 Banking HG3368 Islamic Banking and Finance KBP639 Muʻāmalāt Sadique, Muhammad Abdurrahman Investment accounts among conventional banking accounts: simulation or innovation |
| title | Investment accounts among conventional banking accounts: simulation or innovation |
| title_full | Investment accounts among conventional banking accounts: simulation or innovation |
| title_fullStr | Investment accounts among conventional banking accounts: simulation or innovation |
| title_full_unstemmed | Investment accounts among conventional banking accounts: simulation or innovation |
| title_short | Investment accounts among conventional banking accounts: simulation or innovation |
| title_sort | investment accounts among conventional banking accounts: simulation or innovation |
| topic | HG1501 Banking HG3368 Islamic Banking and Finance KBP639 Muʻāmalāt |
| url | http://irep.iium.edu.my/60269/ http://irep.iium.edu.my/60269/ http://irep.iium.edu.my/60269/12/60269-INVESTMENT%20ACCOUNTS%20AMONG%20CONVENTIONAL%20BANKING.pdf |