Islamic financing Frequently asked questions
Islamic banking is actually consistent with the standards out-of Sharia. An option foundation is that it works rather than interest, that is not allowed from inside the Islam, because the money by itself is not said to be a product where you could potentially funds.
The Islamic banking system uses genuine change items backed which have genuine assets. This is why Islamic financial institutions, such as for example Al Rayan Lender, don’t do business until he’s got an asset to let the order is carried out.
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Islamic banking companies also are not permitted to have fun with economic instruments one to are based on conjecture, and therefore expose a premier part of risk so you’re able to a lender, plus the assets and you can dumps of their consumers. Through this resource-supported method, Al Rayan Lender, and you can Islamic banking general, isn’t confronted by an equivalent dangers while the antique banking companies. Due to this fact brand new Islamic fund industry turned out to be an ethical and you can long lasting alternative to old-fashioned financial after the latest economic drama.
Al Rayan Bank has the benefit of defense and you can balances to the customers because it is section of a bigger Islamic lender called Masraf Al Rayan (MAR). (more…)
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