Islamic banking and finance Current Affairs, GK & News
The Reserve Bank of India (RBI) has come up with a proposal for opening of ‘Islamic window’ in conventional banks for a gradual introduction of Sharia-compliant (interest-free) banking in the country. The move is aimed to ensure financial inclusion of some sections of society that remains excluded due to religious concerns. Islamic banking is ..
What is a Islamic Bank? Islamic banking refers to a system of banking or banking activity that is consistent with the principles of Islamic law (Sharia) and its practical application through the development of Islamic economics. Sharia prohibits the payment of interest fees for the lending of money for specific terms, as well as ..
Topics: Bank • Challenges in Islamic finance • Credit • Economy • Finance • Islamic banking and finance • Islamic economics • Islamic finance products • Islamic finance products, services and contracts • Money • services and contracts • Sharia