Question
While an Islamic bank is one based entirely on and managed with, Islamic principles, an Islamic window refers to the services provided by a conventional
While an Islamic bank is one based entirely on and managed with, Islamic principles, an Islamic window refers to the services provided by a conventional bank but based on Islamic principles. For example, in Oman, there are two Islamic banks, Bank Nizwa and Al Izz Islamic Bank. Six of the seven commercial banks in the country also offer Islamic banking services through dedicated windows or sections in the conventional bank. These Islamic Banks and windows use various different types of sharia compliant contracts to structure banking products.
You are required to;
1. Select two of the local Islamic Banks and/or windows and select three of the products from each bank. Analyses the products selected from the banks based on the contracts. The report should compare and contrast the similarities and differences.
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