As most depositors and investors use IFIs due to their Islamic character, financial institutions must ensure that all their activities conform to the principles and values of Islam. This would require contracts and all necessary supporting documentations, including the legal papers, forms and processes, to be Shari’ah-compliant. For further details see: ISRA, Islamic Financial System; Principles and Operations.
|Is It Allowed to Charge a Fee on Customers Issuing Cheques in Case of Insufficient Funds or No Balance?|
|Is It Allowed to Provide a Debt Collection Company with a Point-of-Sale Equipment That Accepts the Credit Cards of KFH and Other Banks?|