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Author Question: What is Islamic Banking? What will be an ideal response?[br][br][b][color=#347235]Question ... (Read 167 times)

asd123

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on: Jun 30, 2018
What is Islamic Banking?
 
  What will be an ideal response?

Question 2

There is no limit for domestic central bank intervention.
 
  Indicate whether the statement is true or false


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nicoleclaire22

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Reply #1 on: Jun 30, 2018
Answer to Question 1

Islamic law prohibits the charging of interest on loans. In Muslim countries, banks are not allowed to make traditional loans, but rather play their intermediary role by taking a predetermined percentage of the borrowing firm's profits until the loan is repaid. Therefore, in a sense, banks under Islamic Banking act as venture capitalists rather than traditional lenders.

Answer to Question 2

FALSE
Explanation: They can run out of reserves.


asd123

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

lindahyatt42

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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