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Islamic Finance Briefing - Categorized | Banking more

Islamic banking

Posted on 16 November 2010

From Pakobserver.net: Islamic banking refers to a system of banking that is consistent with Islamic law. Islamic economic. Islamic finance has been gaining a global scale for the last 30 years and is estimated at more then $400 billion with projected growth of 15% pen annum.
Ijara is a contract of a known and proposed usufruct against a specific and lawful return and consideration for the service or return for the benefit proposed to be taken or for the effort of worth proposed to be expended. There are many kinds of banking (Muharabha, Ijara, Ijara-wal-iqtina, Musharaka, Musawamah, Istina, Bai-muajjal, Mudarabaha, and Bai-salam)……………………………………….Full Article: Source

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