Suppose a friend of yours asks you about Islamic banking and he does not believe in Islamic banking as he is on the view that Islamic banks use KIBOR rate while taking profit which is the interest based benchmark of conventional banks moreover Islamic Banks also receive extra money from their customers in case where they make delay in payment. Required: How will you satisfy your friend by answering these two questions?
Suppose a friend of yours asks you about Islamic banking and he does not believe in Islamic banking as he is on the view that Islamic banks use KIBOR rate while taking profit which is the interest based benchmark of conventional banks moreover Islamic Banks also receive extra money from their customers in case where they make delay in payment. Required: How will you satisfy your friend by answering these two questions?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Suppose a friend of yours asks you about Islamic banking and he does not believe in Islamic banking as he is on the view that Islamic banks use KIBOR rate while taking profit which is the interest based benchmark of conventional banks moreover Islamic Banks also receive extra money from their customers in case where they make delay in payment.
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How will you satisfy your friend by answering these two questions?
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