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  • Key Operation of Islamic Banking: Justice and Fairness Better Customer Relation No Fixed Obligation Transparency

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    Jeyavikinesh Selvakkugan
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    The key operations of Islamic banking are based on profit and loss sharing principles which contribute to a more equitable distribution of income and wealth. Islamic banks have better customer relations as financing and deposits are arranged under profit and loss sharing, allowing the banks to ensure funds are used productively. Islamic banks do not have fixed obligations to pay interest on deposits, allowing them to allocate resources to more profitable activities.

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    Islamic banking terms

    Original Title

    Islamic banking

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    The key operations of Islamic banking are based on profit and loss sharing principles which contribute to a more equitable distribution of income and wealth. Islamic banks have better customer relations as financing and deposits are arranged under profit and loss sharing, allowing the banks to ensure funds are used productively. Islamic banks do not have fixed obligations to pay interest on deposits, allowing them to allocate resources to more profitable activities.

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    4 views1 page

    Key Operation of Islamic Banking: Justice and Fairness Better Customer Relation No Fixed Obligation Transparency

    Uploaded by

    Jeyavikinesh Selvakkugan
    The key operations of Islamic banking are based on profit and loss sharing principles which contribute to a more equitable distribution of income and wealth. Islamic banks have better customer relations as financing and deposits are arranged under profit and loss sharing, allowing the banks to ensure funds are used productively. Islamic banks do not have fixed obligations to pay interest on deposits, allowing them to allocate resources to more profitable activities.

    Copyright:

    © All Rights Reserved
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    of 1

    KEY OPERATION OF ISLAMIC BANKING

    JUSTICE AND FAIRNESS

    ISLAMIC MODEL IS BASED


    ON PROFIT AND LOSS
    SHARING PRINCIPLE .

    THIS SYSTEM WILL


    CONTRIBUTE TO A MORE
    EQUITABLE DISTRIBUTION
    OF INCOME AND WEALTH

    BETTER CUSTOMER
    RELATION
    FINANCING AND DEPOSIT
    ARE ARRANGED UNDER
    PROFIT AND LOSS
    SHARING PRINCIPLE.
    BANKS ARE LIKELY TO
    KNOW THEIR FUND USERS
    BETTER TO ENSURE THAT
    THE FUNDS ARE USED
    FOR PRODUCTIVE
    PURPOSES.

    NO FIXED OBLIGATION

    DO NOT HAVE FIXED


    OBLIGATION TO PAY
    INTEREST PAYMENT ON
    DEPOSITS.
    ISLAMIC BANKS ABLE TO
    ALLOCATE RESOURCES
    TO PROFITABLE AND
    ECONOMICALLY
    DESIRABLE ACTIVITIES

    ETHICAL AND MORAL


    DIMENSION

    BANKING FOR ALL

    STRONG VALUES OF
    ETHICAL AND MORAL IN
    DOING BUSINESS AND
    SELECTING BUSINESS
    ACTIVITIES

    ALTHOUGH BASED ON
    SHARIAH PRINCIPLES TO
    MEET THE FINANCIAL
    NEEDS OF ALL MUSLIMS
    AND NON-MUSLIMS

    TRANSPARENCY

    TRANSPARENT TO THE
    ACCOUNT HOLDERS ON
    THE INVESTMENT MADE
    AND PROFIT MADE FROM
    INVESTMENT
    PROFIT ARE SHARED
    BASED ON PRE-AGREED
    RATION

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