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Home to Mecca brings you Muslim Mortgage law

Posted on 04 July 2012

The kingdom of Saudi Arabia has always been a little unusual when it comes to Islamic finance and banking. Banks that were otherwise quite conventional, and which both paid and received interest, were proclaimed to be Islamic because ‘all banks in the kingdom are Islamic’.
Since the KSA plays such an important place in Islam, being home to Mecca and other holy sites, it was felt that it would give off the wrong message if any banks were seen to be conventional………………………………………..Full Article: Source

 
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This post was written by:

Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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