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It is an ironic but true fact that not a single bank works in the true Islamic way.
Another OpinionYes, They do work. In conventional banking system the interest is involved in all the transactions. i.e. The investor has no concern whether the business runs into profit or loss, he automatically gets an interest(Riba) in both outcomes at a fixed rate on his capital. whereas in Islamic bank the investor along with profit also bear the loss.There are many differences in Islamic and conventional banking. The Islamic banking is very wide and cover all types of financing & banking needs. well the above mention explanation is just one of the differences.
The positive angle towards Islamic bank and its processes is the need of time and economic stability.
What else can I help you with?
Is there any distiction between Islamic philosophy and non Islamic philosohy?
there are many differeces between islamic philosophy and non-islamic philosophy.undoubtedly most significan differeces between them lies in methodology and the way of discovering reality.if we divide the philosophy to philosophies which know the way of discovering reality just by experience and philosopheis which know the way of realizing reality just buy reason then we can say that islamic philosophy in his methodology applies both experience and reson together.besides that the islamic philosophy doesnt limit the source of knowledge to just sense and reason.according to islamic philosophy we can speak of other sources like intution , fantasy , others.
What is a reality assumption?
Reality assumptions are beliefs(perceptions really) that we hold about the way things are. They are assumptions that we make and hold about what happened or what exists or how something works.
What is reality assumption?
Reality assumptions are beliefs(perceptions really) that we hold about the way things are. They are assumptions that we make and hold about what happened or what exists or how something works.
What is the difference between commercial bank and Islamic bank?
There are two major difference between Islamic Banking and Conventional Banking: 1. Conventional banking practices are concerned with "elimination of risk" where as Islamic banks "bear the risk" when involve in any transaction. 2. When Conventional banks involve in transaction with consumer they do not take the liability only get the benefit from consumer in form of interest whereas Islamic banks bear all the liability when involve in transaction with consumer. Getting out any benefit without bearing its liability is declared Haram in Islam.
Will Michael Jackson be buried according to Islamic traditions?
No he will not be buried in the Islamic way
Was the baby from Paranormal Activity 2 found?
The Paranormal Activity series are works of fiction, and are no way based in reality. In the context of the films, no, the child was never found.
What is the work of libor?
Libor or LIBOR is the London Interbank Offered Rate. The way it works is that it is the average interest rate based on estimates by leading banks in London.
What is the Islamic way of life?
Quran
What has the author Omar Mustafa Ansari written?
Omar Mustafa Ansari has written on a variety of topics in Islamic jurisprudence, Sufism, and Islamic philosophy. He has authored works like "Metaphysical Wisdom of Mulla Sadra" and "Sufism and Islamic Jurisprudence." Ansari's writings often focus on the intersection of spirituality and Islamic scholarship.
What is Jahannam?
Jahannam is the Islamic way of saying hellfire
How is the kalima tayyab pronounced in Islamic?
in the same way
How does the quantum physics affect reality?
Quantum physics describes the behavior of particles at a very small scale, often leading to phenomena that challenge classical notions of reality. Concepts such as superposition and entanglement suggest that particles can exist in multiple states simultaneously and be connected regardless of distance. This has profound implications for our understanding of reality, suggesting that the world may be more interconnected and uncertain than previously thought.
