Month: September 2020
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Understanding Islamic Banking
Islamic banking is established on the principles of Islamic beliefs as they link with business transactions. The basics of Islamic banking are stemmed from the Quran, the main holy text of Islam. In Islamic banking, all transactions must comply with shariah guidelines, the lawful code of Islam which is in view of the preachings of…
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Principles of Islamic Banking & Finance
Islamic banking typically referred to as Islamic finance or shariah-compliant finance which is a kind of finance or banking practice that sticks to shariah rules (Islamic law). Two key elements of Islamic banking are the sharing of profit and loss, and the disallowance of the kinds and payment of interest by banks, financial institutions, and…
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Benefits of Islamic Finance
Throughout the long term, Islamic finance has developed at a quick pace comprehensively and is currently a market worth more than $3.5 trillion. It largely operates in Muslim nations and offers a profitable career there. Now, it has started to expand to the Western world as well to attract investments from the Gulf region or…
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6 Major Modes Of Islamic Banking & Finance
There are many modes of Islamic banking and finance. However, in this blog, we’ve discussed the most-used modes of Islamic banking and financing. These are: MUDARABAH It is a type of partnership where one party has the right to invest in the business i.e; Rabbul-maal and the other has the right to manage it i.e;…