Jul 19, 2019 | Blog, Islamic Finance
A common concern amongst customers of Islamic financial institutions is in with regards to the pricing or benchmarking of Shariah compliant products to the prevailing interest rate. For example, if the prevailing interest rate in the country is 2% and because of this...
Jul 12, 2019 | Blog, Islamic Finance
In previous posts in this series, we have discussed in brief, the role of the Shariah board & the internal Shariah department at Islamic financial institutions. We mentioned that the Shariah board is appointed to guide the Islamic financial institution to ensure...
Jun 28, 2019 | Blog, Islamic Finance
When we discussed the organisational structural difference between conventional and Islamic financial institutions, we mentioned that Shariah board members are not full-time employees of the Islamic financial institutions and that in order to smoothen the Shariah...
Jun 21, 2019 | Blog, Islamic Finance
Another major difference between Islamic & conventional financial institutions is in terms of when a customer delays in paying an instalment, whether or not the institution affected can charge late payment fees. If such a scenario happens to the customer of a...
May 30, 2019 | Blog, Islamic Finance
A major difference between Islamic & conventional financial institutions is in terms of organisational structure as Islamic financial institutions have an additional governance requirement. Islamic financial institutions must have a Shariah board whose members are...
May 28, 2019 | Blog, Islamic Finance
People often ask if there is really any difference between Islamic & conventional financial institutions. Due to the frequency of this question, Insha Allah, I will post some of the major similarities & differences between an Islamic & conventional...
