THE JOURNEY FROM BENCH TO BANK AND ITS ISLAMIZATION PHASES FROM BAITUL MALL TO CONTEMPORARY INTEREST FREE BANKS

Abstract

The Banking Industry has a fast Market Growth for his depth involvement in almost all life businesses. Nobody can deny the importance of this sector and even in the Present day world not a soul can avoid dealing with banks. Starting from payment to the hospital, on the birth day of a child till payment to the cloth shop for coffin and payment to the laborer entrusted for the digging of grave for the dead body, one has to deal with financial transaction and surely, the banks. It is wrong to say that introduced Banking system came into being in a jiffy. But to reach this state of condition took hundreds of years afterward these Banks got firmness and strength and become concrete and well established and chain up the whole world in its curse web and clamp whole. The present study investigates different aspects and dimensions of the journey started from benches and kept on shaping till the contemporary forms coupled with highlighting the concept of Baitul Mall that propagated across different phases from the era of Muhammad pubh till contemporary interest free banks.