Islamic banking prohibits charging interest (riba), promoting unethical or speculative behavior (gharar), and investing in activities that are contrary to Islamic values (haram), such as gambling, alcohol, and tobacco production. Instead, it operates based on the principles of risk sharing, which involves participating in profit and loss with customers, and
Tag: Islamic banks
The recent scams in the country’s Islamic banks
In the yester months there have been several reports of scams and fraudulent activities in Islamic banks in Bangladesh. Some Islamic banks have been accused of mismanaging funds, which has led to financial losses for customers. This has eroded public trust in the industry and made it more challenging for