What is Islamic Banking System? (Shariah Banking - Halal Banking) and How Does it Work? AIMS UK
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- čas přidán 28. 04. 2020
- Islamic banking is a system of banking that is based on the principles of Islamic law (sharia). Sharia prohibits the charging of interest, which is known as riba. Instead, Islamic banks offer products that comply with sharia and seek to promote economic justice. Some of the key features of Islamic banking include profit-sharing, risk-sharing, and asset-backed financing. In recent years, there has been a growing interest in Islamic banking around the world, with many conventional banks now offering Islamic products. However, some critics argue that Islamic banking does not actually follow Sharia principles and that it is simply a way to attract Muslim customers. Nonetheless, there is no doubt that Islamic banking is a rapidly growing industry with immense potential.
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Institute of Islamic Banking and Finance
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Certified Islamic Banker (CIB)
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I'm not Muslims and I don't know about finance, but I kinda like the idea behind this. Why more people don't adopt this, when there are literal banks offering this is beyond me.
I think most people would prefer Islamic Banking. It seems much fairer.
Thank you for covering this.
Islam is the fastest growing religion in the world . A true monotheistic religion that teaches peace and tolerance
If only we have this system, fiscal crisis will never happen.
Allah knows what's best for his creation❤
Enjoyed this
So many videos on this topic have comments disabled, disappointed, sometimes I like the discussion more than the video
One more thing banks can only give loans to equal or less than what their savings deposit are or equity money they raise via shareholding. Amount of loans will not exceed more than that it is a strict rule in islamic banking because printing money out of nowhere leads to inflation which is making poor people more poor.
I get it. No market based "variable interest", no predatory lending/shark loans (in theory at least). The bank only profits if the interested parties prosper and additional transparency and simplicity when transaction takes place.
Prophet Muhammad (PBUH) himself was a great trader and relatively rich entrepreneur. He understood every part of how the successful business should run, how to treat customer fairly and honest, how circulation of money is important for the economy and how the money supply (in this case is banking system) itself should be managed fairly, honest and win-win cooperation for both parties (lenders and borrowers)
Wonderful video, thanks.
The best
Amazing looking for more vedios like this ❤
Thanks, its insightful
Amazing bro like it
This could be more precise, like, what percentage of the benefits do the banks or redistribute to lenders.
Can I say that Islamic banking is similar to investing in Halal stocks in the share market ? There also involves the benefit sharing or loss sharing whatever the company makes by business.
Thanks, very nice vedio, go ahead for more topic
This system' wont bring big money, but it Will bring good money. It Will be good for economy macro, cause interest is one of the reason for inflation