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Miscellaneous
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| Number of pages / Number of words: |
17 / 4569 |
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Islamic finance deals with transactions between depositors, on one side, and partnership with entrepreneurs, on the other, when utilizing depositors’ funds in direct investments. All transactions are interest-free.
There is a clear-cut distinction between interest and profit. Interest as a mechanism in conventional banking is derived from profit...
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All transactions are interest-free.
There is a clear-cut distinction between interest and profit. Interest as a mechanism in conventional banking is derived from profit. It is a subset of profit. It is the profit a conventional bank makes when it lends money and it is the profit a customer receives on deposited funds...
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