Islamic banks definition

Islamic banks means banks licensed as such by the Bank of Mauritius “Islamic financial institutions” means financial institutions licensed as such by the Financial Services Commission (Amended Act No. 10 of 2017
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Islamic banks means banks licensed as such by the Bank of Mauritius;
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Islamic banks means banks licensed as such by the Bank of Mauritius “Islamic financial institutions” means financial institutions licensed as such by the Financial Services Commission(Amended Act No. 10 of 2017 Government Gazette No. 70 of 24.07.17)
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Examples of Islamic banks in a sentence

  • The funds not invested in the foregoing avenues shall be placed as deposit with scheduled Islamic banks / Islamic Divisions of conventional banks.

  • The Bank compares its rates with the rates offered by peer Islamic banks in the market along with performing analysis of its profitability and studies of other market indicators.

  • When there are no specific accounting standards under AAOIFI, Islamic banks must use International Financial Reporting Standards (IFRS).

  • Bankers to the Scheme shall be any bank (must be Shariah compliant/ Islamic banks and Shariah compliant/ Islamic banks window) appointed by the Management Company.

  • They are contractual arrangements under which Islamic banks invest clients’ funds, often (though not always) on a pooled basis, and are generally treated by the bank as off balance sheet.

  • Because Managing a PSIA is a Financial Service, the DFSA regulatory regime that applies to Persons carrying on Financial Services in or from the DIFC applies to Islamic banks that manage PSIAs. As PSIAs are not financial products, the issue of PSIAs, or any advising or arranging activities conducted in relation to PSIAs, especially by a third party, do not attract prospectus like disclosure or any advising or dealing related COB requirements (such as a suitability assessment).

  • Benchmark70% PKR base closing price of physical gold and 30% deposit rates of three Islamic banks.

  • Bank cheques and negotiable instruments drawn to the order of the Customer and deposited (by such mode as shall be made available by the Bank) in the Account shall be accepted as collection items, unless agreed otherwise by the Bank and in accordance with the banking practices prevailing at Islamic banks operating in the UAE.

  • Conventional (non Islamic) banks, financial institutions and insurance companies.

  • For off-balance sheet items, the excess is to be calculated after the application of credit conversion factors as detailed in chapter CA-4 of the Capital Adequacy Module for Islamic banks.

Related to Islamic banks

  • L/C Bank means the Acceptable Bank providing a letter of credit pursuant to Section 5.3 of the Facility Lease.

  • CAFA means the Class Action Fairness Act of 2005, 28 U.S.C. §§ 1711–1715.

  • Co-Syndication Agents as defined in the preamble hereto.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Internet Banking means the service we offer by which you can access and transact on a nominated account by using a personal computer and accessing via our website. This includes transactions processed through the mobile banking facility as well as the smartphone app facility.

  • DIP Agents means the DIP ABL Agent and the DIP Term Loan Agent.

  • Limited line credit insurance producer means a person who sells, solicits, or negotiates one or more forms of limited line credit insurance coverage to an individual through a master, corporate, group, or individual policy.

  • Syndication Agents as defined in the preamble hereto.

  • E-cigarette means any electronic oral device, such as one composed of a heating element and battery or electronic circuit, or both, which provides a vapor of nicotine or any other substances, and the use or inhalation of which simulates smoking. The term shall include any such device, whether manufactured, distributed, marketed, or sold as an e-cigarette, e-cigar, and e-pipe or under any other product, name, or descriptor.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • UK Non-Bank Lender means where a Lender becomes a Party after the day on which this Agreement is entered into, a Lender which gives a Tax Confirmation in the assignment agreement or Transfer Certificate which it executes on becoming a Party.

  • International Borrower In connection with any Mortgage Loan, a borrower who is (a) a United States citizen employed in a foreign country, (b) a non-permanent resident alien employed in the United States or (c) a citizen of a country other than the United States with income derived from sources outside the United States.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • Nail polish means any clear or colored coating designed for application to the fingernails or toenails and including but not limited to, lacquers, enamels, acrylics, base coats and top coats.

  • Basecoat means a coat of colored material, usually opaque, that is applied before graining inks, glazing coats, or other opaque finishing materials and is usually topcoated for protection.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Motorsport Australia means the Confederation of Australia Motor Sport Ltd. trading as Motorsport Australia;

  • Bangladesh Bank means the bank established under Article 3 of the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972) for the purpose of carrying on the business of central banking and also includes its successors;

  • Managing Agents as defined in the preamble hereto.

  • Banks shall include the Agent in its individual capacity.

  • London Inter-Bank Offered Rate means, for any applicable interest period, the rate per annum equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as selected by the Bank from time to time) at approximately 11:00 a.m. London time two (2) London Banking Days before the commencement of the interest period, for U.S. Dollar deposits (for delivery on the first day of such interest period) with a term equivalent to such interest period. If such rate is not available at such time for any reason, then the rate for that interest period will be determined by such alternate method as reasonably selected by the Bank. A “London Banking Day” is a day on which banks in London are open for business and dealing in offshore dollars.

  • Co-Syndication Agent means each of Bank of America, N.A., Branch Banking and Trust Company and Xxxxx Fargo Bank, N.A. in its capacity as syndication agent for the credit facility evidenced by this Agreement.

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Digital Banking (a) means our present and future online banking services which can be accessed through 365 Online, Business Online, Bank of Ireland Mobile Banking, and services available on www.bankofireland.com; and

  • M2M Flowgate means Flowgates where constraints are jointly monitored and coordinated as defined and set forth in Schedule D to this Agreement.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).