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

  • Superregional banks
    Superregional banks is the Bank holding companies similar in size to money center banks, ...
  • Forward Contract
    The forward market facilitates the trading of forward contracts on currencies. A forward ...
  • First named insured
    First named insured is the first name that appears on the declarations page of the policy ...
  • Documentary credit irrevocable
    Documentary credit irrevocable is an irrevocable documentary credit is a definite undertaking ...
  • Average daily balance
    Average daily balance is a method for calculating interest in which the balance owed each ...