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Research Report on Islamic Banking
of Malaya, taken from Asian-Pacific Economic Literature, Vol. 2,
No. 2 (September 1988), pp. 46-62
Islamic banking is a new phenomenon that has taken many
observers by surprise. The whole banking system has been
islamized in both Iran and Pakistan. In addition, there are some
thirty Islamic banks in operation in other parts of the globe,
including the Jeddah-based Islamic Development Bank (IDB) but
excluding numerous non-bank Islamic financial institutions (see
Appendix). What is more, the speed with which Islamic banks have
sprung up and the rate at which they have progressed make it
worth-while to study them systematically. An attempt is made in
this...
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