We can’t wait for Islamic Banking - bankers

At the moment they are going about installing the software and assembling a team that will be directly involved offering the Islamic Banking. FILE PHOTO

What you need to know:

  • As opposed to conventional banking system, Islamic banking whose mode of operation is derived from the Sharia (law) prohibits interests on among other things deposits. Instead it promotes sharing of profit and losses instead of imposing interests on loans and other deposits of money.

Major hurdles around the introduction of Islamic Banking in the country has so far been jumped.

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