The Function of Islamic Banking
Islamic banking, also known as Islamic banking or Islamic financial services, refers to non-interest bearing banking or financial activities that follow sharia (Islamic law). Two basic principles of Islamic banking are both the sharing of gain and loss, and the ban on the collection and repayment of interest. In Islamic banking, a company is said to be Islamic only when it follows the rules of Islamic law, which include having a share in the ownership of all properties and assets of the company, so that they benefit the whole community…
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