'Islamic Banking'

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Offline Shakil Ahmad

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'Islamic Banking'
« on: March 10, 2016, 01:19:32 PM »
A banking system that is based on the principles of Islamic law (also known  Shariah) and guided by Islamic economics. Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest. Collecting interest is not permitted under Islamic law.