Social and Lariba Banking System in the USA: Lessens for Iran

Document Type : Review

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Institute for Humanities and Cultural Studies

Abstract

Abstract

This article aims to look at Lariba and Community-Based Banking used in the US in order to provide answers to problems that Islamic Banking in Iran faces. Therefore, a meta review of literature about the Islamic Banking System in Iran is made, and the system’s main problems and difficulties are diagnosed using a descriptive-analytical method. The article focuses on the Iranian Banking System’s main problems such as: Commodity Evaluation to decide for investment, Profit Calculating to determine bank’s share, and Social Banking for social and ethical considerations. To make use of Islamic Banking Experiences in the world in order to provide advises and resolutions to these problems, the Social Banking and Lariba Banking Regulations in the US are discussed. The article puts forward regulations and techniques adopted from American and Lariba Banking System such as: Commodity Indexing, Mark to Market, Fair Housing Act, and Equal Credit Opportunity Act in this regard.

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