About Islamic Banking

aib4u — Fri, 03 Apr 2009 10:06:28 +0000

First to know is that Islamic Banking or Shariah Compliant Banking is not only for Muslims, the system is a business system perfect for all.

Many have thought what is this Shariah system about, some asked if it is a system of special treatment for Muslims only…

Lets look at one outstanding bank out of the many others:

Absa Islamic Banking was established in March 2006 as part of Absa’s commitment to provide products that are appropriate for its diverse customer base. During the first year in business it offered 5 products for the personal banking market but also developed groundbreaking investment products for the business market. These products have attracted attention in the UAE where an investment product developed by Absa is offered through Barclays. There has also been interest from African countries.

Absa Islamic Banking won the 2006 Deal of the Year Award for South Africa from the international publication, Islamic Finance News, for one of its innovative products.

Shariah Compliance

Shariah Law, which governs the manner in which Muslim people conduct their lives, forbids the payment or earning of interest. All of Absa’s Islamic Banking products are non-interest based, while still offering a similar or better return on investment for the customer.The process of product development, compliance and delivery is strictly overseen by the Shariah Supervisory Board, which is made up of learned Muslim scholars.

Products and Services

With Islamic Banking from Absa your heart is the right place, shouldn’t your money be to?
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aib4u — Fri, 03 Apr 2009 09:56:17 +0000

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Muslim Way of Business

About Islamic Banking

Hello world!