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How do banks profit from Islamic finance?
Islamic banks profit differs from most other countries. It is illegal for an Islamic bank to charge interest on a loan. A loan can only be for the value of the item. The person receiving the loan however, will pay an extra amount which is considered a gratuity.
What are the rules for getting a loan from Dubai Islamic bank?
how to get a loan to your bank if my bank now is not DIB
What is about distributive justice for Islamic banking?
In Islamic banking If u take loan of 50,000 then u must return 50,000 not more than 50,000
Can you recommend a bank in Dubai which follows Islamic Sharia principals?
There are a number of Islamic Banks in the UAE that follow Sharia Compliant and provide good investment and loan banking options such as Emirates Islamic. You could check it out.
What are the various auto loan features of Emirates Islamic bank?
Finance amounts up to aed 500,000 highly competitive profit rates flexible repayment up to 60 months salary transfer not mandatory financing available for comprehensive islamic vehicle insurance easy processing and documentation free emirates islamic current account are some of the auto loan features of emirates islamic bank.
Whom should I approach for home loan?
How much loan do you need to take? Have you taken a loan before? You approach any of the reputed banks in UAE that follow Islamic finance guidelines. They will offer the best loan benefits and will be transparent in their dealings.
What are the teachings of Islam in Islamic banking business?
In banking If u take 500$ loan then return 500$ loan not more than 500$ I don't know how they make profit
How Islamic bank make profit?
Islamic Banks make a profit by buying and selling at a profit. for ex: If you want to buy a car, a regular bank will give you a car loan and you will use that money to buy a car. You will repay the money as monthly installments along with interest, to the bank. An Islamic Bank will buy the car and then sell it to you for a higher price thereby making a profit.
What are loan prepayment tenure for home loans offered by banks in UAE?
All loans in UAE are known to follow the principles of Islamic Finance. Generally, home loan is given for a tenure of 1o or 15 years, Still, please check with your bank to know more.
What is the difference between finance and financing?
Financing is nothing but a complete process or department who works for providing loan or financing aid. Normally in Islamic banking Financing is the preferred word for loan and related activities such as loan origination, disbursement and repayment/Collection. Finance means the department or process which maintain accounts /book keeping cash /Fund management and anything related to financial position of the organization.
I have just moved to Dubai and in search of a bank that can give me good investment options along with loan facility. Please suggest?
There are many good Islamic banks UAE. You could open an account in any of them.
Is Afghanistan a republic country?
Officially, the Islamic Republic of Afghanistan is an Islamic Republic. Islamic Republics are governed by Islamic law.
