Cash Loans Under Islamic Financial System: A Workable Solution
National University of Computer and Emerging Sciences (NUCES or FAST-NU) - FAST School of Business
1391/2012
چکیده
Islamic Banking has shown tremendous growth in first decade of twenty first century. In order to avoid interest charging Islamic banks transect business through sale/purchase (Murabaha, Muajjal, Salam, Istisna'a), Leasing (Ijara) and profit and loss sharing (Musharaka, Mudaraba, PTC, TFC, Skuk). Cash loan facility is not available in present framework of Islamic banking. This article has elaborated five options including Time Multiple Counter Loans (TMLC), Normal Rate of Return (NRR), Inflation Based Loan Indexation (IBLI), Overhead charges on loans and educational loans to present a workable solution for cash financing by Islamic banks.

