Islamic banking Meaning In English
Islamic banking translation, meaning, definition, explanation and examples of relevant words and pictures - you can read here.
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Meaning
Islamic Banking is also known as Islamic Finance or Shariah-Compliant Finance. Islamic Banking is a banking system that conforms to the spirit, ethics and value system of Islam and is governed by the principles laid down by Islamic Shariah.
Example
Types of Islamic Banking:
1). Murabaha 2). Ijarah 3). Istisnaa 4). Mudarabah 5). Musharaka 6). Tawarooq
Benefits of Islamic Banking:
1). Profit and loss sharing.
2). Promote financial justice.
3). Development based on things that benefit people and nature.
4). Based on real assets.
5). Collaborative, joint venture in enterprise.
Principles of Islamic Banking:
1). Sharing of profit and loss and prohibition of collection. 2). Payment of interest by lenders and investors.
Sentence
In Islamic banking, unlike traditional banking, the rate and timing of returns are not pre-determined.
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