Islamic money Frequently asked questions

Islamic banking try similar to the principles of Sharia. An option basis is that it works as opposed to appeal, that’s not enabled inside Islam, because the money by itself isn’t said to be a commodity of which you could potentially profit.

This new Islamic bank operating system spends real trade issues recognized with genuine assets. This means that Islamic financial institutions, such as Al Rayan Bank, don’t conduct business unless of course they have a valuable asset to let the transaction getting carried out.

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Islamic finance companies also are not permitted to fool around with financial tools that derive from speculation, and therefore introduce a top section of risk so you can a financial, additionally the assets and you can places of its consumers. Through that it asset-backed approach, Al Rayan Lender, and you may Islamic banking overall, is not met with a comparable dangers as conventional banking companies. Continue reading “As a result, Al Rayan Bank’s items provide people the quality regulating consumer protection”