Principles as well as roots

Article Abstract:

The Islamic banking industry is ruled by a grass-roots style of banking and a strict adherence to Islamic doctrine. Foremost of all Islamic finance laws is the forbiddance of usury, hence the shift in focus among Islamic banks from actual accounts to people and their businesses. A variety of financial instruments have been developed to facilitate Islamic transactions and regular banking activity. These financial instruments include the murabaha, mudaraba, musharaka, ijara, bei bi salam, musqat, muzara'a and quard hassan. There is a growing optimism in the continued development of Islamic banking as it becomes more integrated into the financial markets of the majority of Islamic countries. By providing banking services that abide by Islamic doctrine, western banks such as Citibank and ANZ Grindlays have successfully entered the Islamic banking industry.

Commercial Banks, Banking industry, Islamic banking

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A place at the nursery

Article Abstract:

The UK Unlisted Securities Market was started as an over-the-counter market in 1980 for providing a regulated market for small-to medium-sized companies. The USM provides smaller companies not ready for a full quotation on the London stock exchange with a venue to attract financing. The USM also offers companies the advantages of gaining: a market valuation, share options, and share incentives for employees. The average listing time of a company on the USM is approximately three years. The European Commission directives harmonizing European stock exchanges may undermine the USM by removing many of the distinctions between the London stock exchange and the USM.

United Kingdom, Over-the-counter markets, Over the counter markets

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Taurus and its traumas

Article Abstract:

The launch of the London Stock Exchange's proposed paperless trading system has again been postponed with full operation not expected until Apr 1993. Taurus, as the highly sophisticated electronic trading system is known, has been delayed following a decision by outside consultants to conduct a thorough review of its technical design and system capabilities. The delay is expected to further increase the total cost of developing the system to some 65 million pounds sterling.

Security and commodity exchanges, Software, Stock-exchange, Stock exchanges, Information services, London Stock Exchange PLC, Program trading (Securities)

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