The seventh meeting of the Law Seminars organized by our Law School held at the meeting hall on 7th floor of Block C at North Campus, on March 5, 2024.
Asst. Prof. Cemal Kalkan, a member of the Islamic Law Department, made a presentation on "Interest-Free Banking in Terms of Islamic Law." Mr. Kalkan started by explaining the basic concepts of participation finance. After discussing the operation of interest and interest-bearing banks at a basic level, he discussed important issues such as delay interest, restructuring, early payment discount, inflation difference in delayed payments on the basis of Islamic law. Dr. Kalkan shed light on concepts such as murabaha and mudarabah in participation banking by giving examples through commercial contracts, and drew attention to the functional aspects of Islamic banking in terms of reducing economic inequalities and increasing welfare in line with the goal of economic growth.
The seminar ended after the Q&A session.
GALLERY
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