Best Answer

conventional is changement in socity which is brought by people buy Islamic financing is a facism base.which depend on only cast.

User Avatar

Wiki User

โˆ™ 2011-09-14 00:05:46
This answer is:
User Avatar
Study guides


20 cards

What century can be inferred that the masque of the red death probably occurred

What is the Islam name for the five pillars of Islam

Why were the mongols so successful in their raids of Chinese towns

How does the modern era differ from the post-classical era

See all cards
41 Reviews

Add your answer:

Earn +20 pts
Q: What differentiate between conventional and Islamic financing?
Write your answer...
Still have questions?
magnify glass
Related questions

What is difference between welfare-state and Islamic state?

differentiate between welfare state and islamic stae

Difference between Islamic business and conventional business?


What is different between conventional leasing and Islamic ijarah?


What is the difference between interest only financing and conventional financing?

The difference between interest only financing and conventional financing is that you are able to make money without any investment on an interest only account only by depositing a maximum amount in an account which you leave for a set period of time where interest will accumulate. Conventional banking is used for more day to day banking purposes.

What is the difference between Islamic loan and conventional banking loan?

An Islamic loan is governed by Islamic banking guidelines, popularly called Sharia Guidelines. Sharia Guidelines is the Islamic way of life for all walks of life. Broadly seen, there is not much difference in the transactions within the Conventional Banking and the Islamicfi loans or Financing but most pertinent is the way it is done i.e. the concept and the operations and the recording of the transactions. The validity of a transaction does not depend on the end result but rather the process and activities executed and the sequence thereof. If a transaction is done according to the Guidelines of Islamic Shariah it is permissible even what is achieved is no different to what it is in conventional banking. The documentation, the contracts and product structures under Islamic Loans or Financing are different from that of the conventional banks. In the verse 2:275 of the Holy Quran, Allah the Almighty has responded to the apparent similarity between a trade and interest transaction by resolutely guiding that He has permitted trade and prohibited Riba (though both the transactions may look similar). Thus the concept of Islamic financing or Islamic Loans or Participating Financing, evolves under this guidance and governed by known Sharia Guidelines.

What are the difference between interest free and conventional banking system?

difference between interest and interest free financing

Differentiate between modern banking and Islamic banking system?

islamic banking is nt full on interest but infront of modern banking totally on interest

List similarities and differences between Islamic banking and conventional banking?

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.

Who provides Islamic mortgages in the UK Where can i get information on Islamic mortgages What's the difference between conventional finance and Islamic finance?

AnswerYou can find all the answers and more on Islamic Financial Solutions are also dedicated Islamic Brokers.You can find them at

What is Comparison bai salam in Islamic bank and bai salam in conventional bank?

bai salam is an arabic term means advance payment and deffer delivery. there is no difference between islamic bank and conventional bank bai salam, bec if they will finance on bai salam basis they have to fulfill the all requiremets of the islamic law.

What is significance of comparison between the Islamic banking and conventional banking?

Islam forbids the charging and paying of interest, so many Islamic banks use some sort of fudge to get around 'interest'.

The differentiate between ethics and law?

The differentiate between ethics and law?

People also asked