Islami Banks
Islami banks do business of banking as commercial banks but it is on the basis of Islamic Shariah or Islamic principles and guided by Islamic economics.
Two basic principles behind Islamic banking are
- the sharing of profit and loss and,
- significantly, the prohibition of the collection and payment of interest.
Category: Banking & Finance
Previous: ← Specialized Banks
Next: Co-operative Banks →
More from this Section
- Parallel bonds
Parallel bonds refer to those bonds placed in different countries and denominated in the ... - Bills discounted
This item represents the total of the bills discounted which have not yet matured and ... - Open market purchase
Open market purchase is a purchase of bonds by the Fed. ... - Default
Default is generally, failure to satisfy an obligation when due, or the occurrence of ... - Law of one price
Law of one price— states that if the identical product or service can be sold in two ...