It’s sad to see people having such a negative opinion about Islamic Banking just because they are unable to see a physical difference in the transaction. Remember that a steak made of Halal cow meat and a Haram dead cow meat looks the same once cooked. But it’s the crux/intention/context/process behind the steak that makes it Halal or Haram.
The Two Basic Sides of Banking Transactions
About the Process – there is a fine line. For instance, a conventional bank provides financing to its clients by giving them interest-based loans whereas an Islamic bank provides financing to its client based on profit-based financing such as Murabaha, Ijarah, Salam, Istisna etc.
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Car on Installments Case Study
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