During the recent economic crisis, an Islamic bank faced a number of defaults in financial commitments by its clients
Fatawa Question
During the recent economic crisis, an Islamic bank faced a number of defaults in financial commitments by its clients. As a result, the Islamic bank is required to allocate a part of the current income as provision for bad and doubtful debts in its fiscal year. What is the Shariah position in this regard, keeping in view that Islamic banks work on a different model than their conventional counterparts ?
Fatwa
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Publisher
Publication Date
2014-10-08
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-783181
American Psychological Association (APA)
Hassan, Husayn Hamid. 2014-10-08. During the recent economic crisis, an Islamic bank faced a number of defaults in financial commitments by its clients. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783181
Modern Language Association (MLA)
Hassan, Husayn Hamid. During the recent economic crisis, an Islamic bank faced a number of defaults in financial commitments by its clients. Kuala Lumpur Malaysia : Islamic Finance News. 2014-10-08.
https://search.emarefa.net/detail/BIM-783181
American Medical Association (AMA)
Hassan, Husayn Hamid. 2014-10-08. During the recent economic crisis, an Islamic bank faced a number of defaults in financial commitments by its clients. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783181
