Thursday, May 10, 2012

What is Islamic Banking?

Given the turmoil in the conventional financial markets there are many who are looking for an alternative safe form of banking and financial market.

Islamic banking is a popular alternative to conventional banking that is available to anyone who is looking for a different approach to financial services, this is not only for members of the Muslim community who wish to carry out their banking requirements in line with Sharia Law.

In recent times Islamic banking has attracted attention from all corners of the globe and especially in non-Muslim countries.  The speed of its growth internationally is largely due to the fact that Islamic banks fared better than conventional banks in the recent economic crisis, due to the strict guidelines of Sharia Law.