© 2019 Safdar Alam 

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Retail Banking Series

This is a series that covers the major products offered by Islamic banks, and explains how they work.

This is aimed at anyone who is thinking about going to an Islamic bank, or perhaps is just curious as to what Islamic banks do.

My aim is to explain, in everyday terms, what products the bank is offering eg

  • Deposits

  • Credit cards

  • Personal Loans

  • Home loans

  • Car loans, and so on

As part of this series, I will explain what kinds of Islamic contracts the banks use, and what that means for you, the customer. For example a typical retail bank will use the following contracts:

  1. Murabaha

  2. Commodity Murabaha

  3. Mudarabah

  4. Wakala

  5. Ijara

  6. Diminishing Musharakah, and so on.