PERSONAL LOAN ISLAMIC IN MALAYSIA

Loan Islamic

Are you searching for personal loan / pinjaman peribadi from islamic banking institution / legal money lender / loan shark? Beware and think wisely before you choose to have a personal loan services from someone or company. Most of us now prefer to apply loan from banking institution like bank islam or hsbc amanah because it is safer and with reasonable low interest rate (interest rate terendah bagi pinjaman peribadi). So here we publish what is islamic banking and service from other money lender that we found on the net. If you have experience using any loan service provider, give your reviews here so that everybody will learn the good tips form you.

PERSONAL LOAN IN MALAYSIA? PINJAMAN PERIBADI ISLAM / ISLAMIC FINANCE

Islamic banking has emerged as a new reality in the international financial scene. Its philosophies and principles are however, not new, having been outlined in the Holy Qur’an and the Sunnah (words, action and approval of the Prophet where later put in writing by his followers and transmitted to others as “hadith”) of Prophet Muhammad (p.b.u.h.) more than 1,400 years ago. The emergence of Islamic banking is often related to the revival of Islamic financial system which is totally usury (riba) free. Riba literally means increase, addition, expansion or growth which are non-trade related e.g. a loan, advances. Technically however, there is no specific or precise definition of “riba” thus excessive profits under certain condition, is also said, may tantamount to Riba.

Islamic Banking in the modern world, generally aims to promote and develop the application of Islamic principles, law and traditions to transactions of financial, banking and related business affairs. It is also to promote investment companies to be engaged in such business activities that are acceptable and consistent within the Shariah precept. Islamic banks, by doing so, will safeguard the Islamic communities and societies from activities that are forbidden in Islam.