Thursday, 9 October 2008

Islamic Banking: Occasional Paper, No 49 - Iran

Islamic Banking: Occasional Paper, No 49
By Zubair Iqbal, Abbas Mirakhor

Published by International Monetary Fund, 1987
ISBN 0939934825, 9780939934829
62 pages

This book was published after Post-Revoutionary Iran set in place Ismalic reforms. This is a Shi'ia approach, different set of methods of reform from the the current post 9-11 Islamic Banking pheonomenon, which is guided by Sunny economists.

Iranian Banks have somewhat different practices, and have differeing fatwas related to Haram. Therefore they do not apear to automtatically participate in Sukuks and other instruments issued by other Islamic finanace groups.

More Study is needed.

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