Modes of Financing
The mode of financing are: MOURABAHA, MOUDARABA, MOUCHARAKA & IJARAH
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Islamic Banking
Islamic Banking
Islamic bank is an institution that mobilize financial resources and invest that money in an attempt to achieve pre-determined islamically - acceptable social and financial objectives. Both mobilization and investment of money should be conducted in accordance with the principles of Islamic Shari'a
About Islamic Banking
Islamic banks operate in the Middle East, Europe, Asia and Africa. At the threshold of the 21st century, Islamic banks had about US $700 billion in funds under their management
Evolution
Although it draws inspiration from practices and values that go back centuries to the dawn of Islam as inclined above, Modern Islamic banking started in the early 1960s concurrently in Egypt and Malaysia.
What is an Islamic Bank
There is no standard way of defining what is an Islamic bank is, but...
Principles of Islamic Banking
There is no standard way of defining what an Islamic bank is, but broadly speaking an "Islamic bank is an institution that mobilizes financial resources and invests them in an attempt to achieve predetermined islamically-acceptable social and financial objectives. Both mobilization and investment of funds should be conducted in accordance with the principles of Islamic Shari'a".
Difference from conventional banks
What is the difference between Islamic banks and conventional banks
