Islamic Banking For Individuals

Islamic banking is a banking system that is based on the principles of Islamic law (Shariah). Islamic banking operates in accordance with the principles of the Quran and the teachings of the Prophet Muhammad, which promote fairness, transparency, and social justice in financial transactions.

The fundamental principle of Islamic banking is the prohibition of interest, known as “riba” in Islamic law. Instead of charging interest on loans, Islamic banks use profit-sharing arrangements or markup-based financing. This means that the bank and the borrower share the profits or losses of a business venture, rather than the borrower paying interest on a loan.

Islamic banking also prohibits investments in activities that are considered unethical or harmful, such as gambling, alcohol, and tobacco. Instead, Islamic banks focus on investing in socially responsible projects that benefit society and the environment.

Overall, Islamic banking aims to promote ethical and socially responsible finance that is in line with the values and principles of Islamic law. It has become increasingly popular in recent years, particularly in Muslim-majority countries, but also in other parts of the world where there is a growing demand for ethical and socially responsible banking.

Islamic Banking of Afghan United bank is encouraging not only corporate clients but we are here to promote & support the individual customers as well. Our shari’a complaint products and services are supporting those individual customers who want to generate more permissible and halal income. We are offering Islamic and standard products which help individual clients to gain good profit.