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27 October, 09:02

How is the islamic financial services sector different from traditional international banking system?

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  1. 27 October, 09:03
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    The Traditional banking differ basically in two important aspects: in theory and practice. We can say that Traditional Banking system is a debt-based and it allows for risk transfer. That is not so with Islamic Banking which is asset-based and it allows for risk sharing. For example, talking about Business framework we can say that Islamic financial services functions are based on Sharia’a and Traditional banking system are based on secular principles.
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