admin

Credit cards are an essential element of modern life and Islamic banks have to provide this service in order to stay competitive. Most credit cards allow […]

Mudarabah or profit and loss sharing account is a common feature of Islamic banking. The customer provides the capital and the bank acts as the Mudarib […]

Islamic banks provide current accounts for customers to safeguard their cash and to pay for their day to day life expenses. This cash is a trust […]

Although Islamic banks cannot provide interest based accounts with fixed incomes, there are products available which provide fixed or quasi-fixed incomes without compromising Shari’ah principles. Islam […]

Commercial banks are important pillars of the modern economy. They serve as the intermediaries for the financial system. The banks are “for profit” organizations and generate […]

The central banks manage the fiscal policy of a state or group of states. They control the money supply and supervise the activities of member banks. […]

The commercial and investment banks had operated in their independent domains for a good part of the twentieth century. The former catered to individuals and businesses […]

Islamic banks use many other accessory contracts including Wakalah, Jua’lah, Tawarruq, Kafalah, Rahn, Hawalah, Istijrar, Amanah, Wadiah, and Hibah. Ju’alah is a reward or payment for […]

The instrument of Ijarah brings Shari’ah compliance to the traditional lease contracts of commercial institutions. Elements of Riba or gharar present in many lease contracts make […]