what are the principlies of islamic banking abd fianace ?explain with examples.
Homework Answers
Islamic finance is a sharia way of financing which is followed in islamic countries.It is based upon two fundamental principals which are based on sharia and hadith laws. It also ensures it follows Quran.
1.Sharing of profit and loss - Islamic banks make a profit through equity participation which requires a borrower to give the bank a share in their profits rather than paying interest.
2.Prohibition of collection of interest- Islamic finance prohibits on the collection of interest both in case of lenders and borrowers as Interest is considered Haram(something inappropriate) according to Quran.
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what are the principlies of islamic banking abd fianace ?explain
with examples.
what are conceptional arguments of islamic banking and finance?
what are conceptional arguments of islamic banking and finance?
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Islamic scholars assert that all financial transactions should be based on real economic activity. Explain what...
Islamic scholars assert that all financial transactions should be based on real economic activity. Explain what is meant by this statement and show how Islamic banking is different from traditional banking.
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Islamic banks are required to offer trade-related services free of cost. Question 20 0.5 p If the deposit expansion multiplier is 20, what is the reserve requirement in the banking system? Question 17 0.5 pts 50 percent The U.S. dollar is the most important reserve currency in the world. 10 percent 2 percent True False 5 percent 20 percent
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