The first Islamic Bank was inaugurated during a ceremony in Kabul and in the presence of the senior government officials including Chief Executive Abdullah Abdullah. In his speech during the ceremony, Abdullah said the Islamic Banking was a branch of the banks as he welcomed the inauguration of an exclusive Islamic Bank in the country. He said the Islamic Banking is a good experience in the world and fortunately Afghanistan is also experiencing the services of the Islamic Banking. However, he insisted that the success of the Islamic Banking has links with generosity of the bank employees to provide better services, good cooperation of the State and government’s support to pave the way for the operations of such a bank. Abdullah expressed hopes that the first Islamic Bank would maintain the confidence of the people as he pointed towards the services of the Azizi and Bakhtar Banks. He said to maintain and preserve the confidence of the people is a major investment and the Islamic Bank should do its best to keep the confidence of the people. The Chief Executive said the government is committed to support the private sector in all situations and conditions as he emphasized that the days are gone when the governments were considering the private sector as their competitors. He said the people expect to see the results of the promises being made and expressed hopes that the inauguration of the bank will help to bolster the banking, trade, production, and economic sectors of the country.
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With the availability of Islamic banking service, more people will deposit money in banks and boost money circulation.Islamic banking has the same purpose as conventional banking except that it operates in accordance with the rules of Shari’ah, known as Fiqh al-Muamalat (Islamic Rules on Transactions).
Islamic banking activities must be practiced consistent with the Shari’ah and its practical application through the development of Islamic economics.
Many of these principles upon which Islamic banking is based are commonly accepted all over the world, for centuries rather than decades.
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@ HeartOfAsia.af
Islamic banking activities must be practiced consistent with the Shari’ah and its practical application through the development of Islamic economics.
Many of these principles upon which Islamic banking is based are commonly accepted all over the world, for centuries rather than decades.