To take the definition of Murabaha from Wikipedia: This concept refers to the sale of goods at a price, which includes a profit margin agreed to by both parties. The purchase and selling price, ...
Can anyone explain me the concept of reserved profit in islamic banking? Also, since riba is prohibited in islamic finance my understanding is Riba wont be used ever for any banking product. Please ...
What is meant by profit rate in islamic banking? Is it similar to interest rate in conventional banking?
I know that Islamic Banking involves the prohibition of interest based loans. But how do Islamic Banks make profit if they charge no interest?
I believe that the Islamic Banking system is pure from impurity of Riba (interest). But some of the Muslims do not see any difference between the Islamic Banking and traditional interest based ...