Abstract
Within the past three decades, the Islamic banking
industry has gained cumulative growth momentum given the growing demand for Shar¯ı‘ah-compliant financial instruments. Islamic
banking has now achieved greater recognition as a viable alternative
to the conventional banking; as depicted by various convincing data
including the increasing growth of its deposits globally. The majority
of Islamic banks have also benefitted from the profit distribution
mechanism that has considerably improved over time. However,
amidst this positive growth, there has been growing criticisms on
numerous areas of Islamic banking. This scenario includes an
important issue on the usage of daily product basis and allocation of
weightages for profit distribution in the Islamic banks. This study,
therefore, aims to examine its compatibility with the principles of
Shar¯ı‘ah and to weigh the objections in the criticisms against these
principles.
Mohammad Yahya Mujaddidi. (2017) Profit Distribution in the Islamic Banks-Daily Product Basis and Allocation of Weightages, Journal of Islamic Business and Management, Volume 7, Issue 1.
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