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Islamic banking, Islamic finance ( Arabic: مصرفية إسلامية masrifiyya 'islamia ), or Sharia-compliant finance [1] is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include mudarabah (profit-sharing ...
The e-Tazkira is a polycarbonate smart card, about 86 × 54 millimeters in size. [21] On the front is the bearer's photo along with personal information, which is in Dari and Pashto languages. On the back is a gold-plated contact chip, and to the right is the bearer's smaller photo, with some of the bearer's personal information in English.
All loans in Islam are interest free. Qardh al-hasan (Arabic: قرض الحسن, transl. benevolent lending) is the one which is without a collateral.However some Ulama deem it a form of interest-free loan (fungible, marketable wealth) that is extended by a lender to a borrower on the basis of benevolence (ihsan).
Benefits that will follow from banning interest and obeying "divine injunctions" [32] include an Islamic economy free of "imbalances" (Taqi Usmani) [32] —concentration of "wealth in the hands of the few", or monopolies which paralyze or hinder market forces, etc.—a "move towards economic development, creation of the value added factor ...
The total debt of 11 state-run banks to the Central Bank of Iran has exceeded $32 billion in 2009, showing a 10-fold increase over the past four years. Bank Melli Iran (aka National Bank of Iran), with nearly $9 billion, had the biggest debt followed by Bank Sepah, Iran's oldest, with about $4.8 billion.
Riba (Arabic: ربا ,الربا، الربٰوة, ribā or al-ribā, IPA:) is an Arabic word used in Islamic law and roughly translated as "usury": unjust, exploitative gains made in trade or business.
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Islamic ornament is the use of decorative forms and patterns in Islamic art and Islamic architecture. Its elements can be broadly divided into the arabesque , using curving plant-based elements, geometric patterns with straight lines or regular curves, and calligraphy , consisting of religious texts with stylized appearance, used both ...