Islamic Banking

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Islamic Banking

A system of banking that only offers products that conform to the sharia, or Islamic law. For example, in Islamic banking, checking and savings deposits do not accrue interest. They either lie dormant until withdrawal or are invested. Because this involves higher risk than conventional banking services, various highly technical products have been developed to mitigate risk and generally imitate "regular" banks as much as possible while still complying with Islamic law. Considerable debate exists as to whether these Islamic banking products are in fact sharia-compliant.
References in periodicals archive ?
A full range of wealth management solutions are provided by KFH--Bahrain, inclusive of Current Accounts, Savings Accounts, Mudharaba Accounts, Wakala Accounts, International Murabaha, and Sukuk that are flexible, diverse and can complement varying customer requirements in order to meet their individual objectives.
Wakala Investments Accounts expands the choice of financial tools available to clients.
"Wakala Investments Accounts" expands the choice of financial tools available to clients.
The Wakala was an inn built by Sultan Qaytbay in 1481 AH, and it was called the dishisha inn which translated into English is crushed corn or barley.
Called the Kids' Wakala account, it can be conveniently opened in a child's name with just OMR 50 and a minimum recurring deposit of OMR 10.
The financial statement of the Company showed that in 2018 the Company managed to earn Wakala Fees of Rs.
L'article Wakala Bil Istitmar bientot activee est apparu en premier sur ALBAYANE .
Furthermore, in the wakala series, the lessee will pay to PPSI-III an amount reflecting the rental due for any project assets following their completion and delivery.
The benchmark-sized, senior unsubordinated sukuk with a wakala structure was priced with a profit rate of 4.471 per cent, equivalent to five-year mid-swaps plus 165 bps, the bank said in an emailed statement.
"There are three common structures used in Islamic venture capital, namely mudaraba, musharaka and wakala," says Ahmad Syahir Yahya, partner at Kuala Lumpur-based law firm Azmi & Associates, adding that the mudaraba concept being the most common.
The surplus from Takaful operations before Wakala fees was OMR 2,941,602 for General Takaful and OMR 303,472 for Family Takaful, up 12.5 per cent and 40.8 per cent respectively.