Belcanto Business Studio

Islamic banking or Islamic banking is a banking system that was developed based on the sharia (law) of Islam. Operating system formation is based on the prohibition in Islamic religion to collect or borrow with interest or so-called usury and the prohibition of investment for businesses categorized as haram (ie business relating to the production of food / drink is haraam, efforts are un-Islamic media, etc. ), where this can not be guaranteed by the conventional banking system.
Islamic banking first appeared in Egypt without the frills of Islam, because of fears the regime in power at that time would see it as a fundamentalist movement. The leader of this pioneering effort Ahmad El Najjar, took the form of a savings bank based on profit sharing (profit sharing) in the town of Mit Ghamr in 1963. This experiment lasted until 1967, and it was already standing 9 banks with a similar concept in Egypt. These banks, which do not collect or receive interest, most businesses invest in trade and industry directly in the form of a partnership and share the profits with savers.

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