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Islamic banking and finance has its own products and services that differ from conventional banking. [ 1][ 2] These include Mudharabah ( profit sharing ), Wadiah (safekeeping), Musharakah ( joint venture ), Murabahah (cost plus finance), Ijar ( leasing ), Hawala (an international fund transfer system), Takaful (Islamic insurance), and Sukuk ...
Dubai Islamic Bank Pakistan: Dubai Islamic Bank Pakistan was established in 2006 as a fully owned subsidiary. Panin Dubai Syariah Bank: 38.3% ownership in a Shariah-compliant player in Indonesia, which has one of the largest Muslim populations in the world. Bank of Khartoum: DIB holds a stake in Bank of Khartoum, one of the largest banks in Sudan.
t. e. Islamic banking, Islamic finance ( Arabic: مصرفية إسلامية masrifiyya 'islamia ), or Sharia-compliant finance[ 1] is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include mudarabah (profit ...
Under Shariah, or traditional Islamic law, charging interest on a loan is taboo, but Muslim businessmen have created sukuk, which are financial instruments that can enable a return on principal.
A Sharia Board (also Sharia Supervisory Board, Advisory Board or Religious Board) [ 1] certifies Islamic financial products as being Sharia -compliant (i.e. in accordance with Islamic law). [ 2] Because compliance with Sharia law is the underlying reason for the existence of Islamic finance, Islamic banks (and conventional banking institutions ...
Citibank National Association, United Arab Emirates ( Arabic: سيتي بنك) commonly known as Citibank U.A.E., [4] is a franchise subsidiary of Citigroup, [5] a multinational financial services corporation headquartered in New York City, United States. Citi U.A.E. is connected by a network spanning 98 markets across the world.
Ruya Islamic Community Bank مصرف رويا المحلي الإسلامي Ajman Private Company Sharjah Islamic Bank: مصرف الشارقة الإسلامي: Sharjah: ADX: SIB: United Arab Bank: البنك العربي المتحد: Sharjah: ADX: UAB: Wio Bank: ويو بنك: Abu Dhabi: Private Company Zand Bank زاند بنك Dubai ...
Profit and Loss Sharing (also called PLS or participatory banking) refers to Sharia-compliant forms of equity financing such as mudarabah and musharakah. These mechanisms comply with the religious prohibition on interest on loans that most Muslims subscribe to. Mudarabah (مضاربة) refers to "trustee finance" or passive partnership contract ...