Key differences between Islamic banks & conventional interest based banks
ISLAMIC BANKS (IB) CONVENTIONAL BANKS (CB) At Conceptual & Socio-Religious level IB are not money lending institutes but they work as a trading/ investment house. IB work under the socio-religious guidelines that prohibit charging and paying interest and avoid all impermissible transactions like gambling, speculation, short selling & Sale of debts & receivables. IB do […]