Guarantee means 'a promise' usually in writing that some thing will be done.
Bank Guarantee: A Bank Guarantee is a written undertaking given by a Bank to perform the promise or discharge the liability of its customer in case of his default.
Objectives of Islami banking
Objectives of Islami Banking:
1. Providing banking services of the highest standards according to Islamic Shari'ah without dealing in Riba by using the state of the art technology in computer, telecommunication and information system.
1. Providing banking services of the highest standards according to Islamic Shari'ah without dealing in Riba by using the state of the art technology in computer, telecommunication and information system.
Difference between Profit and Interest
Difference between Profit and Interest:
1. When money is charged, its imposed positive and define result is Interest.
When money is used in trading, its uncertain result is profit.
1. When money is charged, its imposed positive and define result is Interest.
When money is used in trading, its uncertain result is profit.
Barriers to International Trade
There are basically three barriers to International trade that are used by countries, and they are as follows:
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