Islamic Banking ought to separate their items from the ordinary keeping money items, as these items are free from Riba in addition to the standards on which the unique Banking runs is based on Islamic Teachings and Principles. Consequently, these items should be took care of with a little more mind than the results of routine keeping money items in light of the point that a touch of false impression in the personalities of the clients may blowback.
Islamic Banking Products
Islamic Banking Products are created especially for Muslims. There ought to be some uniqueness so that the consumers can feel that there is nothing illogical in their transactions. Features of the Islamic Banking system should inspire the customers to keep their money in these banks rather than conventional banks. Correspondingly, individuals interested to take advance could rather prefer Islamic house loan rather than ordinary mortgages from the traditional banks.
Among Muslims, premium is termed as "Riba" or usury or excessive interest rate. Riba is totally prohibited in Islam that means there must not be any involvement of premium in installments or credits. The Islamic banking system considers lending money in different way. Taking money from bank signifies a contract between the bank and the borrower. The borrower runs the business and the bank supervises. The revenue is divided between these 2 parties in a prefixed rate. In this way Islamic Banks avoid the idea of premium.
A few financing movement thoughts were developed throughout the unanticipated phases of Islamic Banking; these incorporate diverse manifestations of organizations "mufawada" that is the first kind of relationship, "mudaraba" limited manifestation of company and "al-mal" capital concepts. A number of these money related ideas that were created in the Islamic managing an account stages are still in practice in mainstream non-Islamic banks.
Complying with Islamic perception
A lot of Muslims are hesitant to put in their money to any saving account due to the idea of Interest is denied in Islam and consequently this type of saving money is imperative in catering the requirements of this important section of the business in both Islamic countries and non-Islamic states. As this style of saving money offers a ton more to all its consumers, accordingly it has been picking up incidence in the Islamic area and in the non-Islamic locales also.
Advertisers might also adventure the points of interest and contrasts of Islamic and Western form of Banking especially in Islamic Nations. It is crucial how the item is pushed as limited time exercises help in making or changing the observation of the individuals.
These items needs to be advertised in such a way, to the point that Muslims utilizing the Western model of banking items might also movement towards the Islamic Products. There may be number of procedures for the advancement of these items.
Online banking
Almost every bank is now enabling clients to manage their accounts on the web. It is also called web managing an account. This widely used option allows the customer to make transactions at the comfort of home. It is very secure, fast and affordable method of banking. In emergency cases you may take advantage of your bank account from a long-distance away.
OCBC is one of the banks which offer Islamic compliant bank accounts and bank services. They also have excellent credit card promotion deals which will help you manage your account efficiently.
Islamic Banking Products
Islamic Banking Products are created especially for Muslims. There ought to be some uniqueness so that the consumers can feel that there is nothing illogical in their transactions. Features of the Islamic Banking system should inspire the customers to keep their money in these banks rather than conventional banks. Correspondingly, individuals interested to take advance could rather prefer Islamic house loan rather than ordinary mortgages from the traditional banks.
Among Muslims, premium is termed as "Riba" or usury or excessive interest rate. Riba is totally prohibited in Islam that means there must not be any involvement of premium in installments or credits. The Islamic banking system considers lending money in different way. Taking money from bank signifies a contract between the bank and the borrower. The borrower runs the business and the bank supervises. The revenue is divided between these 2 parties in a prefixed rate. In this way Islamic Banks avoid the idea of premium.
A few financing movement thoughts were developed throughout the unanticipated phases of Islamic Banking; these incorporate diverse manifestations of organizations "mufawada" that is the first kind of relationship, "mudaraba" limited manifestation of company and "al-mal" capital concepts. A number of these money related ideas that were created in the Islamic managing an account stages are still in practice in mainstream non-Islamic banks.
Complying with Islamic perception
A lot of Muslims are hesitant to put in their money to any saving account due to the idea of Interest is denied in Islam and consequently this type of saving money is imperative in catering the requirements of this important section of the business in both Islamic countries and non-Islamic states. As this style of saving money offers a ton more to all its consumers, accordingly it has been picking up incidence in the Islamic area and in the non-Islamic locales also.
Advertisers might also adventure the points of interest and contrasts of Islamic and Western form of Banking especially in Islamic Nations. It is crucial how the item is pushed as limited time exercises help in making or changing the observation of the individuals.
These items needs to be advertised in such a way, to the point that Muslims utilizing the Western model of banking items might also movement towards the Islamic Products. There may be number of procedures for the advancement of these items.
Online banking
Almost every bank is now enabling clients to manage their accounts on the web. It is also called web managing an account. This widely used option allows the customer to make transactions at the comfort of home. It is very secure, fast and affordable method of banking. In emergency cases you may take advantage of your bank account from a long-distance away.
OCBC is one of the banks which offer Islamic compliant bank accounts and bank services. They also have excellent credit card promotion deals which will help you manage your account efficiently.
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