How do Islamic banks work and make profit ?
Fatawa Question
Assalamu Alaikum. I have a question about the Islamic banking system. I was reading about an Islamic bank in my area that gives loans for houses and cars yet they don’t ask for any interest in return. And the savings accounts also don’t collect interest. So my question is, how do these Islamic banks make profit ? Especially if they give loans to people without asking for interest in return ?
Fatwa
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Publication Date
2002-01-30
Main Subjects
Economics & Business Administration
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Islamic jurisprudence
- Islamic economics
- Sales
- Contracts
- ٌLeasing
- Financing
- Profits
- Investments
- Rent
- Bank deposits
- Partnerships
- Islamic Banks
- Accounts current
- Accounts
Data Type
Fatawa
Language
English
Record ID
BIM-724558
American Psychological Association (APA)
Qahf, Mundhir. 2002-01-30. How do Islamic banks work and make profit ?. .
https://search.emarefa.net/detail/BIM-724558
Modern Language Association (MLA)
Qahf, Mundhir. How do Islamic banks work and make profit ?. 2002-01-30.
https://search.emarefa.net/detail/BIM-724558
American Medical Association (AMA)
Qahf, Mundhir. 2002-01-30. How do Islamic banks work and make profit ?.
https://search.emarefa.net/detail/BIM-724558
