In a mudarabah-based business, does the rab-al-mal have the right to know which businesses the mudarib chooses to invest the capital in? If, for example, the mudarabah contract clearly requires the ...
Is it a sin to receive profit from a profit and loss bank account.I have heard that profit earned from ones bank account is haram.But how would this change if the person also incurs a loss in case the ...
I am being paid interest into my bank account and not really sure who to give it to. Is it simple enough for me to donate it to the mosque or does it have to be donated to somewhere specific?
Salamu alaykum, A company is likely interested in hiring me and I am actually going through several interviews. It is a software vendor company that develop products for testing, validating, and ...
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, ...
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 ...
Nowadays, lot of students look for geting a job in banks. What is the islamic view if a person gets a job in bank?
People have saving accounts in bank to save money in a secure place. And Salary accounts are also a kind of Saving account. Banks usually pay a small amount of interest after particular interval. My ...