Finance Advices

Islamic banking superior: Mahathir AFP/Singapore Malaysia’s outspoken ex-prime minister Mahathir Mohamad yesterday blamed Western lending practices for the world’s financial problems and hailed Islamic banking as a “superior” model. Read...

Govt falls back on taxpayer for funds ISLAMABAD: The government decided on Tuesday to impose a 15 per cent flood surcharge on income tax and increase special excise duty by 150 per cent through a presidential order soon after the prorogation of the...

JEDDAH: The Islamic finance system, which introduces greater discipline into the economy and links credit expansion to the growth of the real economy, is capable of minimizing the severity and frequency of financial crises, says Umer Chapra, a well-known...

Experts in Islamic finance believe their way of doing business has shielded them from the global credit crisis. But how does it differ from conventional Western finance? A former executive director of the International Monetary Fund, Dr Abbas Mirakhor,...

The Vatican said banks should look at the rules of Islamic finance to restore confidence amongst their clients at a time of global economic crisis. “The ethical principles on which Islamic finance is based may bring banks closer to their clients and...

Introduction Risk Analysis Of Islamic & Conventional Banks In Pakistan Islamic banks are a key source to earn profit without Riba(interest) . According to Islamic law Riba(interest) is prohibited in Islam and in any trading activities....

Islamic law takes a dim view of usury. In the Islamic world, the charging or paying of interest is equated to usury. So, a conventional loan or mortgage would violate the teachings of the Koran. On the other hand, the Koran does allow money...

Islamic finances If you’re Muslim and are concerned about financial products that comply with Sharia Law, there are more and more options available to you today. The first Islamic bank in the UK, the Islamic Bank of...