Write 9 pages thesis on the topic islamic and conventional credit cards. The increased demand is not only from clients need for differentiated products but also from corporations who want to carry out all financial dealings in conformity with Sharia laws. The increasing populations of Muslim countries will additionally propel the demand for Sharia – compliant financial services. Many Muslim nations have young populaces, with more than 60% of the citizens under the age of 21 years, in addition to annual population growth rates of more than 5%. Many conservative banks currently are also engaging in the Islamic Banking market due to its intrinsic feature of minimal exposure to operational risk. Islamic banking, because of its strict Sharia submission norms, can help clients decrease the risks related to interest based debt bankrolling that plagued conservative banks especially during the recent financial crisis that hit the mortgage market (Alam (2013).In terms of supply, the main underlying principle of development in Islamic banking is the swelling amount of financial services establishments giving Sharia compliant business solutions. Along with the new Islamic banking institutions that are being designed, there is a developing tendency among current conventional banking institutions to transform their processes to become compliant with Sharia laws. With mounting business rivalries in their home markets, some Islamic banking institutions in the Middle East have begun to multiply globally, with a preliminary attention to Africa and Asia. This amplified rivalry was leading to fresh advanced products being availed to the markets, therefore, rendering Islamic banking more enticing.The initial phases of growth in Islamic banking contend with the concept construction where Sharia specialists examined whether the interest those banks charged was similar to riba. Before 1950s, Muslims were not officially engaging the banking services. so, they did not have any information about bank interest (Shaikh n.d).
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more