Riba In Islamic Banking Introduction: Riba is the Arabic term for interest and is considered to be one of the most important principles in Islamic banking. According to Islamic law, it is prohibited for Muslims to receive or give interest on loans as it is considered to be exploitative and unjust. Instead, Islamic banking operates … Read more
Islamic Banking And Finance Introduction: Islamic banking and finance is a relatively new system of banking that is based on the principles of Islamic law (Sharia) and guided by Islamic economics. It emerged in the late 20th century as a response to the perceived excesses and moral shortcomings of conventional banking. Islamic banking prohibits the … Read more
Islamic Personal Financing Introduction: Islamic personal financing is a form of financial service that adheres to the principles of Islamic law (sharia). These principles prohibit the charging of interest, which is considered usury, and instead advocate for profit and loss-sharing arrangements. Islamic personal financing products have been developed as an alternative to conventional financial products … Read more
Home Loan In Islam Introduction A home loan, also known as a mortgage, is a type of loan used to purchase a home. The borrower takes out a loan from a lender and uses the loaned funds to purchase the property. The property serves as collateral for the loan, and the borrower is responsible for … Read more