How is it different from conventional banking?
Conventional banks charge/earn interest; Islamic banks share profit & loss and must be asset-backed.
FAQs
This category is for showing the FAQs for customers.
What is Riba?
Any guaranteed excess over principal without due consideration, which is strictly forbidden in Islam.
What is Islamic banking?
A banking system that follows Islamic Shariah prohibits interest (Riba) and bases earnings on trade, leasing, or profit-loss sharing.
What commitments does FMFB-A make going forward?
FMFB-A is committed to:
How was FMFB-A evaluated?
Inclusion [Social Ratings] conducted an in-depth review of FMFB-A’s policies, practices, and client-facing processes. This included documentation review, interviews, and checks against the CERISE+SPTF client protection indicators.
How does this benefit FMFB-A’s clients?
For clients, the certification means:
What areas does the certification cover?
The certification assesses FMFB-A’s performance in several critical areas:
How long is the certification valid?
The certification is valid for three years (2025–2028). FMFB-A will also undergo annual monitoring to ensure that client protection practices remain in place and continue to improve.