Tag Archives: Interest free banking

What is Islamic Banking? Basic Terms and Concepts, Functions and Rules

What is Islamic Banking? Islamic Banking is based on the Islamic principles of trade and finance. It endorses on interest-free debt and denies effortless profit as it is regarded as Premium or interest and curse in Islam.Islamic banking in USA. Following are some basic concepts of Islamic Banking system; Murabaha:     The Murabaha is the buying… Read More »