Banking Services in Islamic Banks - Appendix B (The Shariah Basis for the Standard)

Transcription

1. Shari ’ah Standard No. (28): Banking Services in Islamic Banks Appendix (B) The Shari’ah Basis for the Standard ■ It is permissible for the Institutions to provide banking services that do not involve interest-based lending and borrowing, because such services serve a permissible interest of the clients. ■ Institutions may charge fees for providing banking services, because the fees so charged constitute a remuneration which the Institutions deserve for the tasks they perform, since it is permissible in Shari’ah to get reward for performing tasks that result in permissible benefits to others. ■ The fee charged by the institutions may be a lump sum amount or a percentage of the value of the service, because when the percentage remuneration is calculated it becomes like the lump sum amount. 731