Analysis of the Basic Principles of Islamic Economic Banking System in Nigeria
The study examines basic principles of Islamic economic banking system, the work is to bring
into focus viable methods by which an interest free banking will mobilize savings and idle funds
of an economy and make them available for use without engaging into “riba” or (interest). The
study put emphasis on the need to correct the impression not only throwing light on the
alternative mode of carrying out banking system without interest, but also to analyze other
aims and objectives of an Islamic economics and banking as an instrument of monetary policy
in an Islamic economy, the study cover areas or an Islamic economics system which include
its distinction from other ideologies (for instance, communism, capitalism) as well as the role
of Islamic banking in an Islamic economic set tip
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