Editing Islamic banking and finance (section)

==== Early example: [[Zubayr ibn al-Awwam]] ====
It is argued that the fundraising business of [[Zubayr ibn al-Awwam]] was practically [[Bank]]ing with zero interests.{{sfn|Alharbi|2015|p=1}} Zubayr pioneered this practice by technically modifying the money-keeping service to be a loan which Zubayr was obligated to pay off, while he also got privilege to manage the money he kept to do his business.<ref name="The Growth of Islamic Finance and Banking Innovation, Governance and Risk Mitigation">{{cite book |last1=Mohi-ud-Din Qadri |first1=Hussain |last2=Ishaq Bhatti |first2=M. |title=The Growth of Islamic Finance and Banking Innovation, Governance and Risk Mitigation |date=2019 |publisher=Taylor & Francis |isbn=9780429557507 |url=https://books.google.com/books?id=isyqDwAAQBAJ&q=africa+zubayr+al+awam |access-date=23 December 2021 |format=Ebook}}</ref> The practice of Zubayr to accept deposits from peoples while not charging any interest meant Zubayr died with  an inflated debt of 2,000,000 Dinar{{#tag:ref|1 Dinar during Muhammad era were approximately 12 [[Dirham]]s.{{sfn|Alharbi|2015|p=1}} |group=Note}}{{sfn|Alharbi|2015|p=1}}{{#tag:ref|According to Ibn Sa'd, debt of al-Zubayr 1,200,000 Dinar.{{sfn|Ibn Sa'd|2013|p=81}}|group=Note}} However, al-Zubayr invested the deposit moneys of the clients for his own lucrative businesses, so his inheritors managed to settle his debts, while still leaving many heritage for his family.{{sfn|Ibn Sa'd|2013|p=81}} After his death, his son Abdullah ibn Zubayr sold the property for 1.600.000 [[dinar]].{{sfn|Tarmizi|2017|p=95}} This practice was allowed according to classical scholar consensus, such as Ibn Taymiyyah in his [[Majmu Fatawa]].{{sfn|al Bushi|2019|p=685, 686}}