Islamic financing Frequently asked questions

Islamic financial is actually consistent with the prices of Sharia. An option foundation would be the fact it works rather than appeal, that is not permitted inside the Islam, because currency itself isn’t said to be a commodity where you can funds.

The newest Islamic bank operating system uses real trade affairs backed with actual property. Consequently Islamic finance companies, including Al Rayan Bank, don’t conduct business except if they have an asset to allow your order is achieved.

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Islamic banks also are perhaps not allowed to have fun with financial tool one are based on speculation, and therefore establish a leading element https://paydayloancolorado.com/cities/beaver-creek/ of chance so you’re able to a lender, and also the assets and places of its users. By simply following this advantage-backed approach, Al Rayan Lender, and Islamic financial overall, isn’t confronted by the same dangers as the antique banking institutions. For this reason the brand new Islamic finance globe became an enthusiastic moral and long lasting alternative to conventional banking following latest economic drama.

Al Rayan Financial also offers safeguards and you will balances in order to its users because it is element of a more impressive Islamic lender called Masraf Al Rayan (MAR). Thus giving Al Rayan Financial monetary balance and additionally availableness so you’re able to systems and education to continue developing the list of Sharia certified shopping financial products. (more…)