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Importance of Banking
– Riba / interest
– Gharar
• Deposit creation
• Corporate & Consumer Financing
• Agency services
• Issuing LGs / LCs
• Advisory services
• Other related services
Features of a Bank
Balance Sheet View
Assets Liabilities & Equity
Corporate Accounts
- Short term financing - Current Accounts
Investment Equity
Current Accounts
Conventional Current Accounts primarily offers two
benefits
Safety & Withdrawal facility
Extra Services linked to the balance in the account.
– Musharakah
– Mudrabah
– Wakalatul Istismar
Musharaka Model
Depositors Bank
Profits
Deposits Equity
Weightage System
Profits
Pool of Funds
Financing
Profits
Businesses/Corporates
Comparison - Liability side
Mudarabah Model
Depositors
Profits
Deposits Deposits
Weightage System
Profits
Pool of Funds
Financing
Profits
Businesses/Corporates
Comparison - Asset side
–Mudarabah –Ijarah
–Ijarah –Salam
–Murabaha –Istisna
–Salam
–Istisna
–Istijrar
–Wakalah
Application of Modes
Mode Application
PKR Murabaha, Dollar Murabaha, Syndicated Murabaha
1 Murabaha Facility, Murabaha against Usance Bills
Mode Mode
Need Selection Application
Example
Murabaha
Need: Cotton
Tenure: 6 month
Rate: Fixed
Payment: At maturity
Other Permissible Services
Zakat deduction.
Sale & purchase of foreign currency
Sale & purchase of travelers checks (local & foreign currency)
ATM services
Remittance
Electronic online transfer
Telegraphic transfer (of cash)
Demand draft
Pay order
Lockers & custodial services
Clearing facility
Sales & purchase of shares/stock (of companies involved in
halal activities)
Collection of dividends
Electronic banking window
Telephone banking.
Uniqueness of Islamic banks