15.10.2010 - Kenya: Banks must comply with Islamic banking principles
From Businessdailyafrica.com: A number of Kenyan banks recently introduced sharia friendly financial products, which target the Muslim population in the country. Few know that in Kenya - unlike other markets - sharia banking focuses on profit sharing with a customer, so if a loss should arise the customer bears all costs. This is Haraam, or forbidden, according to the sharia principles guiding financial transactions, because a bank must share portion of a loss for it to comply with the sharia guideline..............................................Full Article: Source
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