| From Business24-7.ae: Malaysia's central bank is drafting rules to regulate the use of ibrar, or rebate, in Islamic financing contracts to resolve uncertainties in the $95 billion (Dh348.65bn) market, its research body said.
Unlike conventional loans, which levy interest on the accrued portion upon default, Islamic contracts are often asset sales where banks are entitled to the entire sum based on the whole tenure of the contract, regardless of when default occurs..........................................Full Article: Source
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