Islamic Banking is based on a system of ethics and moral values.
The principles of Islamic banking are widely misunderstood and misinterpreted due to many factors such as the use of Arabic language for products, incomplete information carried by people leading to confusion, and sometimes even an indirect dislike as the media has unfortunately coupled Islam with terrorism.
People don't go for Islamic Finance is because of low literacy rate they are not aware of the tools & the benefits they might get.
Islamic Banks are very new as compared to the conventional banks. But the fact that Islamic Banking is making progress that too real fast is a very good sign. The performance of the local Islamic Banks as has been stated in the previous post is outstanding.
Murabaha and Mudarabah are the only real modes of Islamic Finance and without their increased usage; the concepts of IB will always be disputed by the masses.
No comments:
Post a Comment