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.



Share it:  Cite

More from this Section

  • Remittance against acceptance
    Remittance against acceptance is an advance facility similar to Rem D/P except that the ...
  • Individual 401(k) plan
    A qualified retirement plan with significant tax savings for self-employed individuals ...
  • Bear raid
    Bear raid is in the context of general equities, attempt by investors to move the price ...
  • Basket options
    Basket options are packages that involve the exchange of more than two currencies against ...
  • Futures contract
    Futures contract is contract for future delivery of a commodity, currency or security ...