Interest-Free Loans Funds in the Islamic Banks
Hattab.K.T and M.Jarrah,(2018)Interest-Free Loans Funds in the Islamic Banks,Jordan Journal of Islamic Studies, Al alBait University,Jordan, ( accepted)2018
Summary
The purpose of this study is to clarify the most important expected effects of applying interest-free loans funds in Islamic banks, on banking, employees, customers and society, from the point of view of employees in Islamic banks.
In order to reach this goal, the study begins by clarifying the status of the loan in Islamic law, and then the structure of Islamic banks, in order to harmonize the charitable and investment aspects, and the mechanisms that Islamic banks will manage in operating these funds.
In order to measure the possibility of establishing these funds and the role they can play, two famous banks were selected from the oldest Islamic banks in Jordan and Kuwait (Kuwait Finance House and Jordan Islamic Bank)
In order to measure that, a questionnaire was designed and handed out to the employees of the two selected banks. 100 questionnaires were distributed in Jordan, and 100 others in Kuwait.
Finally, after analyzing the results of the questionnaire, the possibility of finding interest-free loans funds in Islamic banks in Kuwait and Jordan was high. However, the expected effects on the Bank’s operations, employees, clients and society are high in the case of Kuwait Finance House, Low in the case of the Jordanian Islamic Bank.
Keywords: Interest-free loans, Islamic banks, Kuwait, Jordan.
