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Islamic banking - Coggle Diagram
Islamic banking
Islamic retail products
Wadiah
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If customers overdraw their account, they have to pay a fee but no interest
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Ijarah Thumma AI Bai'
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When contract is over, the customer can buy the asset at a fixed price
The fixed price is higher than the original price for the customer pays the money back over a longer time
Sukuk
Prohibiting the payment of interest, Islamic bonds pay only a share of profits
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When the bond matures, the person holding the bond receives the current value of asset, not the capital that person invested
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Another aspect
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Islamic banks donate part of their profits to a Zakat Fund, which helps poor people