Islamic Finance in Egypt

Author(s): Mahmoud Mohieldin
Publication Number: ECES-WP17-E


The paper discuss 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 that illustrates the distinctive characteristics of Islamic banking. The paper also attempts to examine the performance of Islamic banks as well as Islamic branches of conventional banks with 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) as regard to their activities, size and methods of mobilization of resources.

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