Feasibility of the usury free modeling on moderate rationality
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Abstract: (5128 Views) |
After the financial crises of 2007 – 2012 banking and financial policy – makers applied some reforms in the financial markets. One can label these items rationalizing financial market. Regarding high attention of Islam to rationality principles one can rationalize the usury – free banking model as well. The Precondition to compile such model is the realness of software and hardware Platforms including transparency of financial information and the possibility of controlling financial transactions. So one objective of this paper is to analyze the challenges of Iran banking system to substitute it with financial rationalism. One finding of this research shows that in order to have any progress in standardizing usury free banking, we can go ahead in direction with moderate rationality. In so doing Iranian banking system would benefit from rational banking at one hand. It would be compatible with Shariah at the other |
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Keywords: : rational financial model, feasibility, usury free banking, Iranian banking system |
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Article type: Research |
Subject:
Special Received: 2016/12/13 | Accepted: 2016/12/13 | Published: 2016/12/13
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