BANKING AFFAIRS

Detailed explanation-1: -An Islamic bank is entirely operated using Islamic principles, while an Islamic window refers to services that are based on Islamic principles that are provided by a conventional bank. Some commercial banks offer Islamic banking services through dedicated windows or sections.

Detailed explanation-2: -clients’ who choose interest-free transactions, Islamic banking window refers to a situation whereby a conventional banking system offers some of the Islamic banking products or services”.

Detailed explanation-3: -Conventional. Islamic. Conventional banks are in the business of lending & borrowing money based on interest. Islamic Banks are not money lending institutes but they work as a trading/ investment house.

Detailed explanation-4: -It covers things like saving, investing, and borrowing to buy a home. The moral principles many Muslims live their lives by are sometimes known as the ‘Shari’ah’. So you may hear Islamic financial services described as ‘Islamic finance’ or ‘Shari’ah-compliant’.

Detailed explanation-5: -Bank Islam is the pioneer of Islamic banking in Malaysia, and has played a major role in the development and growth of the nation’s Islamic financial industry.