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    Afaq Awan
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    Islamic banks operate entirely based on Islamic principles, while Islamic windows are sections within conventional banks that offer Islamic banking services. The Mit-Ghamr Savings Bank in Egypt, established in 1963, is often considered the first example of modern Islamic banking as it provided business loans based on profit-sharing rather than interest. In general, Islamic banks tend to be more risk-averse and avoid investments associated with economic bubbles.

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    Islamic banks operate entirely based on Islamic principles, while Islamic windows are sections within conventional banks that offer Islamic banking services. The Mit-Ghamr Savings Bank in Egypt, established in 1963, is often considered the first example of modern Islamic banking as it provided business loans based on profit-sharing rather than interest. In general, Islamic banks tend to be more risk-averse and avoid investments associated with economic bubbles.

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    8 views1 page

    Islamic Bank Things

    Uploaded by

    Afaq Awan
    Islamic banks operate entirely based on Islamic principles, while Islamic windows are sections within conventional banks that offer Islamic banking services. The Mit-Ghamr Savings Bank in Egypt, established in 1963, is often considered the first example of modern Islamic banking as it provided business loans based on profit-sharing rather than interest. In general, Islamic banks tend to be more risk-averse and avoid investments associated with economic bubbles.

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    Islamic Banks vs.

    Islamic Windows
    While an Islamic bank is one that is entirely operated using Islamic principles,
    an Islamic window refers to services that are based on Islamic principles that
    are provided by a conventional bank. Some commercial banks offer Islamic
    banking services through dedicated windows or sections.

    Example of Islamic Banking


    The Mit-Ghamr Savings Bank, established in 1963 in Egypt, is commonly
    referred to as the first example of Islamic banking in the modern world. When
    Mit Ghamr loaned money to businesses, it did so on a profit-sharing model.
    The Mit-Ghamr project was closed in 1967 due to political factors but during
    its year of operations the bank exercised a great deal of caution, only
    approved about 40% of its business loan applications. However, in
    economically good times, the bank's default ratio was said to be zero.

    In general, Islamic banking institutions tend to be more risk-averse in their


    investment practices. As a result, they typically avoid business that could be
    associated with economic bubbles.

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