Friday, November 09, 2007

What about Shariah depositors?

A glance at the latest report from the deposit protection fund, omits two Shariah banks licensed this year - (Gulf African and Family Community) from the list of institutions whose deposits are protected by the deposit protection fund (DPF)

A further reading of Islamic banking indicates that such banks guarantee depositors funds - but then don't all banks do that?

2 comments:

aegeus said...

i thought so too, and this protection, if i may ask it to what limit?

coldtusker said...

I thought strict muslims considered insurance to be "haram"... am I mistaken?

If I deposit money in an islamic bank, do I earn interest?

If I can't earn interest, what benefit/s do I receive for "depositing" money into a shariah account?

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