KIBOR - Printable Version +- Accountancy Forum (https://www.accountancy.com.pk/forum) +-- Forum: The Profession (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=4) +--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=7) +--- Thread: KIBOR (/showthread.php?tid=9040) |
KIBOR - Shirazi - 10-27-2010 Dear All, 1- What is KIBOR? 2- If it is Haram, so why are Islamic banks charging KIBOR differences to their leasing cutomers and calculating profit on the basis of KIBOR? Plz guide and help urgently, Regards Shirazi - noman - 10-27-2010 Kibor is interbank borrowing rate....its index/benchmark against which every one base their prices... so to stay competitive the islamic banks also follow it determine their pricing n stuff.. ideally they should not be based on this and should have some independent criteria to determine their pricing n operations......but as of now...they are stuck with it......i myself don't see islamic banking as being islamic untill they find an altternative to KIBOR based pricing. |