Saturday, January 2, 2010

Islamic Banking?

Banking encompassing Islamic injunctions

To avoid:
  • Riba –Earning returns from loans and debts or Selling debt contracts at discount
  • Gharar – Absolute Risk or Excessive uncertainty in contracts, Gambling and chance-based games (Qimar)
  • General Prohibitions
  • unethical practices

Shariah Compliance & Prudent Banking

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