Working Papers

Islamic Finance in Egypt

Publication Number: ECESWP17-E

October, 1997

Author : Mahmoud Mohieldin

Type : Working Papers

This paper discusses the concept of usury and its evolution in economic thinking. Then it discusses the economic framework of the Islamic banking system and constructs a model illustrating the distinctive characteristics of Islamic banking. The paper also attempts to examine the performance of Islamic banks as well as Islamic banking. The paper also attempts to examine the performance of Islamic banks as well as Islamic branches of conventional banks with the emphasis on the problems of Islamic finance in Egypt and its prospects. Moreover, the paper provides an analysis of the so-called Islamic Investment Companies (IICs), their activities, size and methods of mobilizing resources.