Open AccessAttaining Financial Efficiency Through Funds Utilization The Bankers’ Perspective
Author(s) -
Muhammad Shujaat Saleem,
Imamuddin
Publication year - 2015
Publication title -
journal of advance research in business, management and accounting
Language(s) - English
Resource type - Journals
ISSN - 2456-3544
DOI - 10.53555/nnbma.v1i8.120
Subject(s) - loan , fallacy , argument (complex analysis) , finance , business , actuarial science , perspective (graphical) , product (mathematics) , accounting , philosophy , biochemistry , chemistry , geometry , mathematics , epistemology , artificial intelligence , computer science
In reply to the argument made by the non-believers of Makkah “Sale is similar to riba”, Almighty Allah ordered “Sale is permissible while riba is impermissible1”. The main intent of the study was to clarify the fallacy prevailing among the Muslims that in practical terms the product of Murabaha2 which is being offered by the Islamic banks is similar to that of conventional interest based business loan3. However, specific objective was to ascertain the degree of financial efficiency on the basis of fund/loan utilization for intended purpose of Murabaha financing vis-à-vis conventional interest based business loan. The study employed survey strategy to collect primary data through structured close ended questionnaires from the