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ISLAMIC BANKING AND FINANCE IN THEORY AND …
ISLAMIC Economic Studies Vol. 13, No. 2, February 2006 ISLAMIC BANKING AND FINANCE IN THEORY AND PRACTICE: A SURVEY OF STATE OF THE ART MOHAMMAD NEJATULLAH SIDDIQI The practice of ISLAMIC FINANCE significantly departs from its THEORY . The survey addresses the causes of the dichotomy and offers alternative research approaches and themes that may in the future facilitate convergence of the practice with the theoretical aspirations - a transformation from merely meeting the criteria of legality to that of achieving the objectives of ISLAMIC law. 1. INTRODUCTION The contemporary practice of ISLAMIC BANKING and FINANCE is now 30 years old.
Islamic Economic Studies, Vol. 13, No. 2 2 discovering points of weakness than to projecting the points of strength. It indicates the distinctive features of Islamic banking and finance that make it different from
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