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Islamic Finance Briefing - Categorized | Banking, Emerging Trends more

Evolution and trends in Islamic banking

Posted on 11 July 2011

Non interest banking, Islamic banking or participant banking is banking activity that is consistent with the principles of Islamic law (Sharia) and its practical application through the development of Islamic economics.
Sharia prohibits the payment or acceptance of specific interest or fees known as Riba or usury for loans of money. Investing in businesses that provide goods or services considered contrary to Islamic principles is also Haraam (forbidden)……………………………………….Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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