تلخیص
The present day situation is undeniably pre-eminently dominated by
economic considerations. A deep analysis shows that not only the
national policies of the Government but also International politics
appear to be exclusively governed by considerations of economic
interest. The multinational Corporations, Financings bodies and
International Banking Institutions if though do not, virtually, control
the policies of the entire world; however, do the same in third world
countries. There is no denial to the fact that the cornerstone of free
market economy is Interest which is deeply percolated in the ins and
outs of the current economic system and that is core disordering of the
World economy. Contrary to this, Islam confers a guided economy,
having restricted earning tools and more refined and specific patterns
and procedures of financing deals in order to maintain the smoothness
and order in the life system. Shariah’s Teachings are transparent and
perfect containing the basic principles and pros and cons of each and
every action/phenomenon that take place in human life. Since almost
all the activities revolve around economy for which Islam has provided
complete guidelines regarding financial transactions and business
deals in the form of Musharaka, Ijara and Mudarabah.The present
study has focused on the Investigation of in vogue Diminishing
Musharaka in Interest free banks and find out the loopholes which still
exist in the in-practice Interest free banking and to propose the
remedial measures to fill the gaps with appropriate shariah substitutes.
Qaisar Bilal, Muhammad Rahim. (2014) Diminishing Musharaka: A Mode of Financing in Interest Free Banks, Abasyn Journal of Social Sciences, Volume-07, Issue-1.
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