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FAQs

  1. What is Islamic Finance? In what ways is it different from conventional
    banking?
  2. Is Islamic banking only available to Muslims?
  3. How can I use this website?
  4. How can payments be made? What currencies do you accept?
  5. How can we be sure that your products are Shari'ah compliant?
  6. How can we be sure that all material on your website is Shari'ah compliant?
  7. Do you offer any discounts on products, or on membership?
  8. What languages are your products in?
  9. Can we sign up as a group? Would we get a group discount? What happens when the term expires, and some members wish to renew but others opt out?
  10. I hope you will not give out my personal details to anyone else, not even to other members on the site.
  11. I hate spam! I hope you will not send me any unsolicited emails.
  12. I have paid for the e-learning kit, but have not received it as yet. How do I follow up?
  13. I have received a CD that does not work properly.
  14. What version of the IE explorer is this site compatible with?
  15. What is the best screen resolution for this website?
  16. Does this website deposit cookies on to my PC? 
  17. What internet speed do you recommend for use with this site? 
  18. Do we need any additional browser plugins for best viewing of this site?
  19. Why does this website respond back as "Time Expired" if I leave it idle for sometime?
  20. How safe is it to give my credit card information on this site?

 

 

1. What is Islamic Finance? In what ways is it different from conventional banking?
Islamic finance, while following the basic parameters of conventional finance, has an added mandate of Shari’ah compliance, which originates from the Qu'ran and Sunnah of the Holy Prophet.

Shari'ah has laid down rules for the socio-economic life of people. Islam aims to minimize the social differences between various sections of society and make all Muslims live together in peace and harmony.

The main differences between Islamic finance and conventional banking are that interest or Riba cannot be charged, and any financial transactions that involve Riba are expressly prohibited. Islamic finance is therefore asset based as opposed to being currency based and earning money from money. People are forbidden from lending money to gain profit, and getting profit without accepting an element of risk in the transaction. Islamic banks have also to avoid the contracts with absolute uncertainty (Gharar) and all unethical practices. Wealth can only be gained through Shari'ah compliant trading or investment, with the result that whoever is the owner of any asset, he / she must bear its risk (along with the reward), and any gains made should be shared between the parties concerned on the basis of the principles of the underlying contracts.

   
 

2. Is Islamic banking only available to Muslims?
Islamic finance is available not just to Muslims, but to anyone of any religious background who may wish to use interest-free banking. All Muslims who wish to transact within the framework laid down by Islam should necessarily follow the tenets of Islamic finance.

 
   
 

3. How can I use this website?
www.islamicbankingedu.com is a website that aspires to be a leading provider of training and a trusted reference in the field of Islamic Finance and Banking, both online and offline. Start by becoming a member. You can choose from free, associate or premium membership. Signing up is easy and will only take five minutes.

Explore our blended-learning program to really understand the fundamentals of Islamic banking, and the whys and wherefores of Shari’ah compliant banking transactions.

Take part in our Discussion Forum and spark off some lively dialogues on many of the underlying principles of Islamic Finance. Get more in-depth knowledge attending insightful Webinars. Questions can be asked and doubts can be cleared. You can post a blog on any related subject that is close to your heart, or read through what other bloggers have to say.

Our comprehensive Islamic finance and banking Glossary will help you understand the meaning of terms pertaining to the subject in simple everyday language.

We will conduct opinion polls and online events to make this a vibrant and dynamic exchange site of ideas. As a member, you can participate in all these events.

 
   
 

4. How can payments be made? What currencies do you accept?
All payments are charged in US Dollars. We accept Visa & MasterCard, should you wish to pay through our online payment system. We use 3D secure payment service which is offered by Visa as verified by Visa service, MasterCard as MasterCard Secure Code. Payments can also be processed through PayPal.

An alternative payment method:
Payments will be in USD and will be credited in our Indian Account as INR. Please deposit the requisite amount (after including transaction charges as required) and make the payment to :
SWIFT CODE : AXISINBB081
ACCOUNT NUMBER : 691010200001953
BRANCH : PALARIVATTOM, KOCHI, INDIA
ACCOUNT NAME : CARILLON PRINT MEDIA PVT LIMITED
Once you have made the payment, please send us an email with the transaction code and we will process your order instantly.

A confirmation mail will be sent to you with the consignment number, once your order is dispatched. There will be an additional shipping charge of $4 for orders within UAE, $30 for orders to other GCC countries and $50 for orders to the rest of the world.

We do not accept any payments by cash. Please contact us for more information.

Kindly fill in your complete address, telephone number and email id to ensure that the shipment does not get delayed.

 
   
 

5. How can we be sure that your products are Shari'ah compliant?
Our learning programmes have been prepared keeping in view the decisions and resolutions of Islamic Fiqh Council of the OIC and the Shari’ah Standards developed by AAOIFI.  Hence, the contents of the programme reflect the consensus of the Shari’ah scholars and the mainstream viewpoint on principles and the modes of Islamic banking and finance.

 
   
 

6. How can we be sure that all material on your website is Shari'ah compliant?
All material on the website will also be framed keeping the Shari'ah regulations of mainstream scholars in mind. However, we shall not be deemed to endorse, recommend, approve, or guarantee any opinions or views expressed in the Member's area, which shall be the opinions of the members themselves and not necessarily those of our Team.

 
   
 

7. Do you offer any discounts on products, or on membership?
Our prices are extremely competitive and very good value for money; in fact by far the best currently available! However, we may consider giving a discount on bulk orders. These may be available on request, and you can contact our Customer service for details.

 
   
 

8. What languages are your products in?
Our products, and the website itself, are available in both English as well as Arabic.

 
   
 

9. Can we sign up as a group? Would we get a group discount? What happens when the term expires, and some members wish to renew but others opt out?
Yes, of course, you can sign up as a group. Please contact our Customer Service for details of discounts available.

We hope that none of our members would ever choose to opt out, as we have a lot of continued learning and great offers in store for them! But in case for some reason, they do not wish to take advantage of all this, they can simply not renew the membership.

 
   
 

10. I hope you will not give out my personal details to anyone else, not even to other members on the site.
Your email and all other personal details will remain hidden. You may choose a login name which you can use for any communication on the website.

 
   
 

11. I hate spam! I hope you will not send me any unsolicited emails.
We hate spam too! Any personal details that we gather will be with the specific purpose of keeping our members database updated. We may from time to time send you promotional material which we think may benefit you, and which will be related to your specific interests. If you do not wish to receive any such beneficial offers from us, you may simply unsubscribe at any time.

 
   
 

12. I have paid for the e-learning kit, but have not received it as yet. How do I follow up?
Normally shipments will take a minimum of 4 to 7 days, once your order is processed, within the UAE. You can trace your order by calling Customer Care and giving them your order number.

 
   
 

13. I have received a CD that does not work properly.
The interactive CD-Rom will autoplay. Just insert the CD-ROM into the CD-ROM drive. Wait a moment for the CD-ROM to load.
If you have disabled the autoplay feature on your PC, please do the following:
1. Double click on your PC’s CD-ROM drive icon to open the CD-ROM.
2. Double click on ‘Autorun.exe’ on the CD-ROM to start.

In the unlikely event that you have received a damaged CD, please contact our Customer Care and after verification, a replacement will be shipped to you immediately. Please return the original CD in the same condition.

 
   
 

14. What version of the IE explorer is this site compatible with?
IE 5 or higher.
Using older browsers, non-compatible browsers or disabling browser features such as Javascript , cookies and SSL, may reduce site functionality. The site is also compatible with Netscape 4.75 onwards and Mozilla Firefox 4.0 or higher.

 
   
 

15. What is the best screen resolution for this website?
1024x768

 
   
 

16. Does this website deposit cookies on to my PC? 
Yes, these cookies allow for this website to provide personalized information. It does not contain any sensitive information (i.e. credit cards number, etc.).

 
   
 

17. What internet speed do you recommend for use with this site? 
128 Kbps or higher.

 
   
 

18. Do we need any additional browser plugins for best viewing of this site?
Yes. The latest version of Adobe Flash Player. To download, click here.

 
   
 

19. Why does this website respond back as "Time Expired" if I leave it idle for sometime?
For security reasons, a unique session is created for you while visiting us. A timer is set for each page that is viewed. If the time is exceeded for that given page, a message will be displayed as time being expired. When this occurs, you will be required to re-enter our site.

 
   
 

20. How safe is it to give my credit card information on this site?
We use 128 bit SSL certificate to ensure secure data transmission.

 
   
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