Islamic credit cards and loans ?

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Islamic credit cards and loans ?

iahmad
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#3

12-09-2005, 04:48 PM

Pracs you are correct the profit elemnet due to non payment shall be credited to an oter account called as Account for Charitable purposes. This amount should not be used by the bank and shall not form part of bank's income. Can be used only for charitable purpose.

As per First Islamic Financial Accounting Standard issued by SECP and ICAP.

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Islamic credit cards and loans ? - by asimbaig - 12-08-2005, 05:48 PM

[No subject] - by Pracs - 12-09-2005, 05:45 AM

[No subject] - by iahmad - 12-09-2005, 04:48 PM

[No subject] - by Goodman - 12-27-2005, 08:32 PM