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FAQs Regarding Islamic Banking
  1. What is the philosophy of Islamic banking?
  2. What is Islamic Banking?
  3. What is Meant By Riba?
  4. What is interest? Is there any difference between interest and Riba?
  5. What are the different kinds of Riba?
  6. Are there any injunctions against Riba/usury in religious texts other than Holy Quran?
  7. Does interest/Riba is related only to consumption loans or it applies to commercial loans also?
  8. Does the prohibition of Riba apply equally to the loans obtained from or extended to Muslims as well as non-Muslims?
  9. What is the difference between conventional banking and Islamic banking?
  10. What are the basic principles or laws of Islamic banking?
  11. What is meant by Shariah/Islamic Laws?
  12. The end result of Islamic Banking and Conventional Banking is the same. Why do they appear similar?
  13. If Islamic banks do not invest in interest based activities then how do they generate profit to pay to their customers?
  14. Are not Islamic banks just paying interest and dressing it as profit on trade and investments?
  15. Islamic banks use interest base system (KIBOR or LIBOR) as a Bench Mark while determining profit; how Islamic banking can be said to be Islamic?
  16. Is Islamic banking meant only for Muslims?
  17. What are the major modes of Islamic banking and finance?
  18. What is Musharakah?
  19. What is Musharakah?
  20. What is Murabaha?
  21. What are the basic rules of a valid Murabaha transaction?
  22. What is Musawamah?
  23. What is Ijarah? 
  24. What are the salient features of Ijarah transaction? 
  25. What is the difference between Islamic Mortgage financing and conventional mortgage financing ?
  26. The rental amount under Ijarah transaction is normally linked to interest based benchmark like KIBOR or LIBOR. Is not it an interest based financing?
  27. Interest rates are subject to unknown variations/upsdowns and linking the amount of rent with interest rate will create uncertainty (Gharar) impermissible in Shariah. How would the Ijarah contract remain valid under this scenario? 
  28. What is Ijarah-Wal-Iqtina?
  29. What is Bai Salam? 
  30. Requirements for Bai Salam
  31. What is Istisna? 
  32. What is the difference between Istisna and Ijarah?
  33. What is thedifference between Istisna and Salam?

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