Category: Part 1

Islamic savings accounts and Islamic investment accounts are both financial products that adhere to Islamic principles and Shariah law. However, they serve different purposes and

The main difference between an Islamic cheque/current account and a traditional cheque/current account lies in how they operate and the principles they follow: 1. **Islamic

Having an Islamic transactional account, which is designed to operate in accordance with Sharia principles, comes with certain limitations and considerations. These limitations are based

The choice between opening an Islamic savings account or an Islamic cheque account depends on your financial needs and preferences. Both types of accounts are

Islamic banking is a system of banking that operates in accordance with Islamic principles, which are based on the principles of Sharia (Islamic law). While

As of my last update in September 2021, Islamic banking, like any other complex issue, is subject to varying interpretations among Islamic scholars (Ulama). While

In an Islamic savings account, the profit share is calculated and distributed based on the concept of profit-sharing (Mudarabah). The Mudarabah contract is a partnership

As of my last update in September 2021, Islamic banking in South Africa was reasonably accessible and had been steadily growing in popularity. South Africa

Islamic banking operates on the principles of Shariah (Islamic law), which prohibits the charging or earning of interest (riba). Instead, Islamic banks offer a different

The banking regulations that apply to Islamic Banking can differ in certain aspects from those that apply to conventional banking. Islamic Banking operates under principles