COMPARATIVE ANALYSIS BETWEEN CONVENTIONAL AND RIBA-FREE BANKING
Keywords:financial alternate, riba free, Islamic Jurisprudent, Banking
Modern age is the age of financial challenges, and it is a great fact that the riba free financial alternate has overcome the whole financial globe. The Islamic Banks are more important than the conventional banks. The differences are very clear between the two, because the conventional banks provide loans only on riba basis, which is obviously against the Shariah. It is therefore the expert Islamic Jurisprudents brought forward its solution which is according to the Shariah and also is conformed to the financial rules. More and more researches are going on, and the Islamic Jurisprudents as well as the financial experts are satisfied with the systems that are being brought forward. In this article I have explained the difference between the two systems, i.e. conventional and riba free banking systems.