Banking

There are four major players in the US for Sharia Compliant Financing. Riba free or interest free does not mean there is no cost to borrowing. […]

The banks converting from conventional to Islamic banking can continue to have demand and time deposits with different maturities. The main difference is that no interest […]

Islamic banking provides financial services to both Muslims and non-Muslims. In that sense, it is similar to a conventional bank and requires meticulous studies of banking […]

The following are the accounting definitions in a general conceptual framework of an Islamic bank’s financial statements. Assets An asset is defined as having possession of […]

Conventional accounting provides information related to financial position, operations, and cash flows about an entity to allow interested parties to make informed decisions about the entity. […]

Central banks are important building block of the financial economy of a country or a group of countries. They are responsible for managing the money supply, […]

fees charged by Islamic banks Islamic banks cannot deal in interest yet they are for profit institutions and have to remain competitive against their conventional counterparts. […]