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As per Islamic laws giving and receiving interest is considered Haram or Unlawful. So, Islamic banking practices were started to provide banking services to customers following the Islamic faith so that they can take up banking without offending their religious sentiments.
Includes all the normal stuff excluding "Interest", which is forbidden. "Loans" are discouraged but not forbidden, to prevent fraud and dishonesty. Predetermined fixed Interest rates, according to some Muslim interpretation, is considered as Reba which is forbidden in Islam.
Islam religion of humanity, and respecting for human rights and obligation, Islam came in an empty world of humanity i mean the Arabic people was between and acting like tripe's of Wolfe and they was have too many wars between those tripe's, and there is an familial war we call it Dahes and Khabra, those are names for two tripe's of fight, as you can thing in the situation that time every thing is mixed up, is lam make interfere with human life and put laws and those to obey God law and to have good life plus feeling of community and people all around you, Islam put and organize all human life from the begging he put laws in money marriage and all life point view, in Islam accounting is totally different from any other type, in normal or commercial we are using now a days we make profit for money example when some one barrow money from bank then bank calculate ROI and give profit upon ROI so customer will got this amount of money minus profit in advance if he fail in his project he will paid profit plus original money amount and profit keep dynamic that mean he will paid ROI many times, so money became as property and that contradict business life cycle growth.
In Islam law money are invested in the same example when some one have project and he don't have money and borrow money from Islamic accounting type no matter bank or else as an Islamic borrow client don't have to paid profit instead there are two type of controlling this process first bank go and buy the material and give it to customer in advance agreement about the price and even those money value keep without payment from client he don't finish his liabilities he will paid the agreed money amount so ROI not used, in another type is sharing so bank share the project in ratio to his amount and if project fail that mean both side will paid liabilities of any other third party have loan them money and that happen some times both will pick up the cash.
conclusions
Islam accounting invest money
Any other type invest money and that terrible
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Is Islam a state?
Islam is a religion that can be represented by Islamic Community, Islamic state, Islamic nation, or Islamic world.
What are some popular Islamic banking services?
Islamic banking services are available from some specialist Islamic banking institutions such as Islamic Bank of Britain, or European Islamic Investment Bank. There are also an increasing number of Islamic banking services available from non-Islamic institutions such as Lloyds TSB.
Names of Islamic banks in Syria?
Cham Bank - Ist Islamic Bank in Sep 2006 Syria International Islamic Bank - 2nd Islamic Bank Sep 2007 Al Barakah Bank Syria - 3rd Islamic Bank January 2008 Cham Bank - Ist Islamic Bank in Sep 2006 Syria International Islamic Bank - 2nd Islamic Bank Sep 2007 Al Barakah Bank Syria - 3rd Islamic Bank January 2008
Which Islamic countries are not predominantly Islamic?
If you mean, where Islam is not practised in toto, in letter and spirit, then most of the Islamic countries are not following Islam.
Which religion was introduce to Africa by Arab traders?
Islam
Is the Islamic banking is really Islamic and how?
Islamic banking is, in a sense, like regular banking with focus of no fixed interest rate. The interest in Islam is called "Riba" (Usury). Riba or Usury is strictly forbidden in Islam because it is unfair. Islamic banking dealing focuses on buy and sell for a profit that does not guarantee a profit rate neither for the bank nor the customer.
What Islamic leaders were not forced to convert Islam?
No Islamic leader was forced to convert to Islam. It is a basic and explicit rule in Islam; per Quran; that no compulsion in religion.
What has the author Hasan Baseri Budiman written?
Hasan Baseri Budiman has written numerous books on philosophy, ethics, and Islamic thought. Some of his works include "Islamic Studies in Indonesia", "Ethical Philosophy in Islam", and "Islamic Ethics: Its Foundation and Scope".
What supported the expansion of Islam?
Islam as a religion expanded as the Islamic Empires expanded through conquest and where Islamic merchants met with receptive cultures outside of the Islamic Empires.
What is the meaning of Islamic Tourism?
Islamic Tourism means tourism of Islam
What are the Islamic moths of islam?
There are no Islamic moths. Maybe butterflies, but no moths.
Did Britney Spears convert to islam?
no, she had a travel to Islamic country Pakistan and there weard Islamic Hijab and its photo was in internet and media and people thought she has converted to Islam according her Islamic cloths.
