Interest-free banking and finance

Interest-free banking and finance is dates back to Hammurabi, who reigned in Babylon between 2123-2081 BC. "Mudaraba" and "musharaka" contracts, which form the basis of interest-free banking, also passed to Medieval Europe and began to be used under the names "Commenda" and "Società".

Europeans implemented these agreements without any changes. In addition, the similarity and closeness of the trusts (Investment Trust), which still maintain their importance in British Banking and work partially on the basis of profit distribution, with interest-free banks, is also pointed out.

See also

• Islamic banking and finance

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