HOW IS THE ISLAMIC BANKING AND ISLAMIC ZAKAT APPLIED IN SAUDI ARABIA

Abstract

Islamic banking in Saudi Arabia is gaining momentum day by day due its political and economic conditions. This country is one of the pioneers in the field of Islamic banking in the world. The banking sector in Saudi Arabia is flexible which always encourages Islamic banking for implementation. The banks in Saudi Arabia are either fully Islamic or have Islamic banking windows and branches. My research will show the status of Islamic banking in Saudi Arabia, and some important issues about it. Islamic Banking shows the impact this approach has made on conventional banking, and why it's such a big player in the current market. It offers a unique look at various aspects of this field, including the salient features of Islamic banking that distinguishes it from non-Islamic banking, the development of the regulatory bodies and supervisory agencies that support the Islamic banking system. It also explores the nature of risk in Islamic banking. CCS Concepts • Information systems