Islamic banking institution definition

Islamic banking institution means a licensed Islamic bank (excluding a licensed international Islamic bank) or a licensed bank, as the case may be;
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Islamic banking institution means a full-fledged Islamic bank, Islamic banking subsidiaries or Islamic banking branches of conventional banks;
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Islamic banking institution means a licensed person which is−
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Examples of Islamic banking institution in a sentence

  • It is based on a collective sharing of risk by a group of individuals whose payments are akin to premiums invested by the Islamic banking institution in a mudarabah arrangement for the benefit of the group.

  • The Bank is registered as an Islamic banking institution in accordance with the rules and regulations of the Central Bank of Kuwait (the “CBK”) on 7 April 2010 and its shares are publicly traded on the Boursa Kuwait.

  • The enabling laws imposed Sharia supervision, so if an Islamic banking institution were to be set up, a Sharia Committee would have to be set up.

  • Here, customers and others financial institutions placed their money into Islamic banking institution for purposes of safekeeping.

  • Thus, the establishment of an Islamic banking institution is very much focused on the transactions that are Syariah’s compliance.Apart from that, IBA also stressed on the requirement of licensed Islamic bank.

  • In addition, the profit attributable to equity holders (numerator) has been adjusted by the effect of the share options and restricted shares granted by the Company’s non wholly-owned subsidiaries and associates, excluding those which have anti-dilutive effect to the Group’s diluted EPS.

  • The Bank is a licensed Islamic banking institution providing Islamic retail and commercial banking products and services in accordance with Shariah principles.

  • On 1 May 2006, AmIslamic commenced operations as an Islamic banking institution under the IBA after AmBank transferred all of its Islamic banking and financial businesses to AmIslamic pursuant to the vesting order of the High Court of Malaya dated 18 April 2006 issued under section 50 of the BAFIA.

  • The accountholder authorises the Islamic banking institution to use the cash deposit.

  • In this case, the Islamic banking institution will not have any recourse to the customer should the business incur losses due to the investment policy as there would have been no such policy prescribed by the Islamic banking institution in the first place.

Related to Islamic banking institution

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.

  • 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.

  • 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

  • Sending institution means the institution of higher education of most recent previous enrollment by a transfer student at which transferable academic credit was earned.

  • Training Institution means the Grantee.

  • Selling Institution The entity obligated to make payments to the Issuer under the terms of a Participation Interest.

  • Lending institution Any insurance company, federally insured commercial or savings bank, national banking association, savings and loan association, credit union, employees’ welfare, pension or retirement fund or system, corporate profit sharing or pension trust, college or university, endowment fund, real estate investment trust, or other institutional lender or financial enterprise, including, without limitation, any corporation qualified to be treated for federal tax purposes as a real estate investment trust, having a net worth of at least $50,000,000 acting on its own behalf or as agent on behalf of other Lending Institutions.

  • L/C Bank means the Original L/C Bank and any other Lender which has been appointed as an L/C Bank in accordance with Clause 5.11 (Appointment and Change of L/C Bank) and which has not resigned in accordance with paragraph (c) of Clause 5.11 (Appointment and Change of L/C Bank).

  • credit institution means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;

  • Municipal Finance Management Act means the Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003);

  • Eligible lending institution means a financial

  • 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.

  • Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.

  • State institution means a mental health institute, as defined in s. 51.01 (12), a center for the developmentally disabled, as defined in s. 51.01 (3), or a secure mental health facility at which persons are committed under s. 980.06.

  • Qualifying Institution means the United States office of a commercial bank or trust company organized under the laws of the United States of America or a political subdivision thereof, or a foreign bank, having assets $10,000,000,000 (net of reserves) and a credit rating on its long-term senior unsecured debt of at least "A" from S&P and "A2" from Moody's.

  • Mobile Banking means the banking services accessible from the Device you have registered with us for Mobile Banking.

  • Online Banking is the internet-based service providing access to your Bank account(s);

  • Mobile Banking Service means the EB Services which we enable you to access via the Mobile Banking App or a web browser designed for use on a Mobile Device; and

  • New York Banking Day means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to be closed.

  • Local Banking Day means a day (other than a Saturday or Sunday) on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency deposits) in the place of presentation of the relevant Covered Bond or, as the case may be, Coupon; and

  • UK Financial Institution 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.

  • 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.

  • Telephone Banking means banking services available from time to time by telephone;

  • Name of Institution Anchorage Capital CLO 8, Ltd., as a Rollover Lender By: Anchorage Capital Group, L.L.C., its Collateral Manager By: /s/ Xxxxxxx Xxxxxxxxx Name: Xxxxxxx Xxxxxxxxx Title: Authorized Signatory If a second signature is necessary: By: Name: Title: By executing a counterpart to this Agreement as a Rollover Lender, the undersigned institution agrees to have all of its outstanding Existing Term Loans converted into a like principal amount of New Term Loans effective as of the Amendment No. 4 Effective Date, in each case in accordance with the terms and conditions set forth herein and in the Credit Agreement. Each Rollover Lender that submits an executed counterpart to this Agreement acknowledges and agrees that in the absence of a change to the terms and conditions of this Agreement that is (x) materially adverse to the New Term Lenders, taken as a whole, in their capacity as such and (y) made after the submission of such executed counterpart, such submission is irrevocable. Name of Institution: Anchorage Capital CLO 9, Ltd., as a Rollover Lender By: Anchorage Capital Group, L.L.C., its Collateral Manager By: /s/ Xxxxxxx Xxxxxxxxx Name: Xxxxxxx Xxxxxxxxx Title: Authorized Signatory If a second signature is necessary: By: Name: Title: By executing a counterpart to this Agreement as a Rollover Lender, the undersigned institution agrees to have all of its outstanding Existing Term Loans converted into a like principal amount of New Term Loans effective as of the Amendment No. 4 Effective Date, in each case in accordance with the terms and conditions set forth herein and in the Credit Agreement. Each Rollover Lender that submits an executed counterpart to this Agreement acknowledges and agrees that in the absence of a change to the terms and conditions of this Agreement that is (x) materially adverse to the New Term Lenders, taken as a whole, in their capacity as such and (y) made after the submission of such executed counterpart, such submission is irrevocable.

  • Receiving Institution The college or university where a transfer student plans to enroll and to apply previously earned credit toward a degree program.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.