Islamic bank definition

Islamic bank means a Bank having license as Scheduled Islamic Commercial Bank from State Bank of Pakistan or a Bank, which accepts deposits on profit and loss basis and will include all Banks or financial institutions, approved by Shariah Advisor for the purpose of banking by the Trust.
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Islamic bank means any company which carries on Islamic banking business and holds a valid licence; and all the offices and branches in Malaysia of such a bank shall be deemed to be one bank;
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Islamic bank means a bank licensed under the Islamic Banking Act 1983 [Act 276];
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Examples of Islamic bank in a sentence

  • The innovation of Islamic Bank’s products is an indicator of the ability of Islamic bank to adapt with the needs of modern human being.

  • Islamic banking (IB)I sector in Malaysia has experienced positive growth and tremendous progress over the past three decades since the establishment of Bank Islam Malaysia Berhad (BIMB) as a pioneer full-fledged Islamic bank (FFIB)I in 1983.

  • As the first Islamic bank in the UAE, the Group has a proven track record in developing and offering Islamic finance products to meet the increasingly sophisticated needs of its customers.

  • My intention to write upon this topic is due to my keen interest to acquire in-depth knowledge on Islamic banking, and as my commitment to support my organization‟s aspiration in attaining full Islamic bank status in year 2015.

  • This helps to ensure that DIB's reputation as a premier Islamic bank is maintained at all times.


More Definitions of Islamic bank

Islamic bank means a bank licensed under the Islamic Banking Act 1983;’; and
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Islamic bank means an Islamic financial institution which is a bank;
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Islamic bank means a bank licensed under the IBA ;
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Islamic bank means such a banking company or an Islamic banking branch(es) of a banking company licensed by Bangladesh Bank, which follows the Islamic Shariah in all its principles and modes of operations and avoids receiving and paying of interest at all levels.
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Islamic bank means an Islamic banking company licensed under the Banking Companies Ordinance, 1962 or any other regulation for the time being in force and shall include a bank incorporated outside Pakistan and carrying on Islamic banking business in Pakistan as a scheduled bank.
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Islamic bank means a licensed Islamic bank under the Islamic Financial Services Act 2013 [Act 759] and includes a person carrying on banking or financing activities in accordance with the Syariah;
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Islamic bank or “Islamic Banking" means a system of banking or banking activities that is consistent with Islamic Shariah law and principles. This will also includes all banks or financial institutions, approved by the Shariah Advisory Board of the Fund for the purpose of banking activities.
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