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Permissibility Of Guaranteed Capital
No. Also conventional life insurance is impermissible. This is not to be confused with the allowance of third-party g...
 
Difference Between Guarantee And Pledge
A guarantee is a commitment that is made by one party in a contract whereas a pledge constitutes a fixed asset, reserved for the purpose of claiming a debt. It is not permissible to furnish a guarantee or a...
 
A Surety's Sharing In Profits
The client's suretyship for the institution is lawful. The bank freezes the client's account for the amount owed to it by the institution on the condition that the returns from the investment during ...
 
Charging For Guarantee
It is unlawful to charge a fee for providing a guarantee. If providing the guarantee actually incur...
 
Percentage Based Fees
It is not permissible for the bank to charge a percentage-based fee for letters of guarantee or documentary credit. It is lawful, however, for it to charge an amount for the serv...
 
Permissibility Of Two Parties Guaranteeing Each Other In Contract
It is impermissible for any party to guarantee the principal or profit of a...
 
Guaranteeing For Conventional Bank
It is not permissible for an Islamic bank to guarantee equipment, buildings or...
 
Guarantees From Conventional Banks
It is not permissible for an Islamic bank to request its...
 
Voluntary Guarantee In Mudarabah
It is not permissible for the manager to guarantee the capital investment in a Mudarabah because he cannot be held responsible for the loss of...
 
Fees For Suretyship And Agency
A letter of guarantee covers both suretyship and agency. It is not lawful to charge a fee for suretyship however it is permissible to charge a fee for agency. Costs for issuing a letter of...
 
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