Islamic Banking Insights
“Like any businessmen I dealt with the banks
. My mother said it was haram. I told my mother that no, I don’t take interest on my money. To which she asked what happens when I need money from the banks. Then, I said, I would pay interest. Again she said, It is haram 
.”
. My mother said it was haram. I told my mother that no, I don’t take interest on my money. To which she asked what happens when I need money from the banks. Then, I said, I would pay interest. Again she said, It is haram .”This was how Salleh Abdullah, founder of Albaraka Banking group, got into Islamic banking. For Singaporeans 
, there are only three banks offering retail Islamic banking products and although the number is different on the corporate side, it has caused the man on the street to resort to conventional banks for certain banking products.
, there are only three banks offering retail Islamic banking products and although the number is different on the corporate side, it has caused the man on the street to resort to conventional banks for certain banking products.How different is Islamic banking, why the need for Islamic banking and how is it better than conventional banking?
We ask these questions and more to our next guest, Mr Zulkarnien, Head of Maybank Islamic in Singapore on the 5th episode of More Than Just Money, Islamic Banking: Different Sides of The Same Coin?
We ask these questions and more to our next guest, Mr Zulkarnien, Head of Maybank Islamic in Singapore on the 5th episode of More Than Just Money, Islamic Banking: Different Sides of The Same Coin?
