October 10, 2018
There are four major players in the US for Sharia Compliant Financing. Riba free or interest free does not mean there is no cost to borrowing. […]
June 30, 2018
The banks converting from conventional to Islamic banking can continue to have demand and time deposits with different maturities. The main difference is that no interest […]
June 1, 2018
Islamic banking provides financial services to both Muslims and non-Muslims. In that sense, it is similar to a conventional bank and requires meticulous studies of banking […]
May 20, 2018
The following are the accounting definitions in a general conceptual framework of an Islamic bank’s financial statements. Assets An asset is defined as having possession of […]
May 15, 2018
Conventional accounting provides information related to financial position, operations, and cash flows about an entity to allow interested parties to make informed decisions about the entity. […]
May 5, 2018
Shari’ah Boards perform the all-important role of reviewing, approving, and overseeing the services and transaction of an Islamic bank. The boards consist of recognized scholars who […]
May 1, 2018
A functioning economy requires a stable and reliable banking and financial services sector. Banks cannot be relegated to a totally laissez-faire market where all transactions are […]
February 20, 2018
Central banks are important building block of the financial economy of a country or a group of countries. They are responsible for managing the money supply, […]
February 20, 2018
fees charged by Islamic banks Islamic banks cannot deal in interest yet they are for profit institutions and have to remain competitive against their conventional counterparts. […]