Islamic financing Faq’s

Islamic banking is actually similar to the principles out-of Sharia. A key foundation is the fact they works versus desire, that isn’t permitted when you look at the Islam, because money by itself is not reported to be a commodity from which you could profit.

New Islamic bank system spends real trade issues supported which have real property. This is why Islamic banking companies, eg Al Rayan Lender, do not do business until he has a secured asset to allow the order are accomplished.

How can we make it easier to?

Islamic banking companies are maybe not permitted to use financial tools you to definitely are derived from conjecture, and therefore establish a top element of exposure so you can a bank, as well as the possessions and you will places of their users. Through that it house-supported approach, Al Rayan Bank, and you will Islamic financial as a whole, is not met with a similar threats as the traditional banking institutions. Because of this the brand new Islamic fund business became an moral and you may long lasting alternative to conventional banking following current monetary drama.

Al Rayan Financial even offers security and balance to their users since it is section of a much bigger Islamic lender entitled Masraf Al Rayan (MAR). This provides Al Rayan Lender financial stability as well as availableness to options and you may knowledge to keep developing its variety of Sharia certified merchandising lending products.

Additionally, because a beneficial British bank, Al Rayan Bank was authorised of the Prudential Regulated Power (PRA) and you may regulated from the Monetary Perform Expert and the PRA, meaning that it should fulfill the United kingdom financial rules. Such as for example, Al Rayan Lender savers just who put the deposits into Financial are covered by the fresh new Financial Attributes Settlement Strategy. Continue reading « As a result, Al Rayan Bank’s factors bring consumers the high quality regulating consumer safety »