What is Amanah and Wakala in Islamic Banking ?

Amanah and Wakala in Islamic Banking

Amanah and Wakala in Islamic Banking (Complete Guide) AMANAH To give any commodity / asset to anybody for the sake of safety is called Amanah. Anything given as Amanah is considered to be something held in trust, and the same can not be used. USE OF AMANAH IN ISLAMIC BANKING Certain people consider current accounts … Read more

What is MUSHARAKA in Islamic banking?

MUSHARAKA IN ISLAMIC BANKING

MUSHARAKA in Islamic banking The literal meaning of Musharaka is sharing. The root of the word “Musharaka” in Arabic is “Shirkah”, which means   being a partner. Technical meaning of the word Shirkah is  that, two or more persons take part either  in a property without business intention or in a business to generate profit. … Read more

What is MODARABA in Islamic banking 2021 ?

MODARABA IN ISLAMIC BANKING

What is MODARABA in Islamic banking ? “Modaraba” is a kind of partnership where one partner gives money to another for investing in profitable avenues. The investor (fund supplier / capital provider) is called “Rabb-ul-Mal”. The person who utilizes the fund (the fund manager) is called “Modarib” who is exclusively responsible for management of the … Read more