Islamic banking

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Islamic banking

A form of ethical investments bound by the precepts of Islam, particularly the prohibition of interest payments.
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Al-Rabash said in a statement carried by the official Yemeni news agency that the checkpoints of the coup militia confiscated the passports of many pilgrims and hindered the departure of others to the port of Wadiah of Hadramout province.
These accounts are structured under various Shariah principles such as Mudharabah, Wadiah Yad Dhamanah (trust account), Musharakah and others.
Wadiah Poker, head of the Graphic Arts department at the college.
It also supports definition and monitoring of a range of Islamic investment products including Mudarabah Investment and Savings products, Commodity Murabaha Investment, Wakala Investments, and Wadiah Accounts, which can be defined using a wide range of parameters.
Both Jaiz and Stanbic IBTC currently offer two basic retail current and savings accounts to any clients interested in ethical faith-based financial products based on the Wadiah (savings) and Mudaraba (trust financing) concepts.
Related to the policy dummy, Central Bank of Indonesia replaced sharia-based monetary instruments of Bank Indonesia Wadiah Certificates (SWBI) to Bank Indonesia Certificates Sharia (SBIS) in April 2008 in order to create fair treatment between Islamic and conventional banks.
Beaconsfield looked to get back into the tie but Cross and his rearguard stood firm, the shot-stopper making a couple of vital stops while Wadiah cracked a fierce shot into the side-netting.
Giro account in sharia banks is managed with the system of trust called Giro Wadiah, as basically giro funds are public funds in banks that could be withdrawn any time.
So far, the Government has approved the use of Wadiah, Murabahah and Mudarabah as modes of financing for Islamic banks.
Products include Wadiah - where the bank acts as the safe-keeper of deposits but may provide returns to the depositors as a gift; Murabahah, or partnership and equity financing; Ijarah - leasing; Musharakah - partnership and Bay' Bithaman al-Ajil - sale by deferred payment.
Islamic bank generally mobilise current account deposits using qard Al Hasan, Amanah or Wadiah contracts.
Wadiah returned Thursday night from Cairo where he had attended the signing of the surprise reconciliation agreement between Hamas and Fatah.