Ethical banking is the oldest Islamic banking, banking and halal shariah banking. While in Western society has spoiled as a necessary evil that there is a fundamental part of a banking financial and economic system based on profit maximization at any cost, the Islamic world has not detached from the spiritual and financial world religious and it has grown within Islamic society a bank that holds the religious precepts of Muhammad that we have discovered no more than 25 years and we have called ethical banks.
Islamic finance as opposed to Western unethical in itself, follow the religious teachings, Sharia law, is the ethics of Islamic law, where usury is a sin and is banished. (The Qur'an, for Allah is lawful trade but of usury is prohibited.) Islamic finance and banking course not invest in what ignoble to the spirit and man, such as the arms market, snuff industries, pornography and pork industry, alcoholic beverages, drugs, toxic foods in general (haram, forbidden).
I already mentioned the prohibition of usury should be completed having a semantic difference with respect to the West, for us abusive usury is interest (usury really are all bank interest), for Islam is to charge a usurious rate interest, whatever it is. Interest in Islamic banking there and really make it special behavior and ethical philosophy of Islamic banking. The interest does not exist in the transactions, the money is not a good in itself speculative, to obtain the benefit the money must be connected to work, there is speculation and is based economic development money-capital-bound to work.
Unlike conventional capitalist bank, Islamic banking does not charge interest, but as a business it must make money to exist, when it grants a credit, for example, charges a flat fee, pequeña.La philosophy is the loan of money is service, which charges a service. It is unthinkable that a capitalist bank to lose money, instead of Islamic banking may lose money. When the bank provides capital to start a business, the loan becomes a member of the company and participates in profits and losses, to recover the loan. In these cases, the loan requires no collateral, just a good idea, profitable. This corresponds to point out another feature on the topic of loans, they do not change according to market entity, the loan will always be between the bank and the customer and can not move, sell, trade speculate.
Islamic financial market halal works why not move to the West?. The Muslim community in Europe is large, the halal industry is in full swing why not import halal banking?. It is something that is not interested in conventional banking where usury and shady business in weapons, drugs, money laundering is most important to their livelihood.
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