Islamic financial institution definition

Islamic financial institution or “IFI” means:
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Islamic financial institution means a financial institution carrying on Islamic financial business;
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Islamic financial institution means an Islamic banking institution or financial holding company, as the case may be;
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Examples of Islamic financial institution in a sentence

  • DIB's primary objective is to maintain its position as the leading Islamic financial institution in the Middle East region as well as in other selected strategic markets.

  • If multi-service financing uses the ijarah contract, the Islamic financial institution (IFI) must deal directly with partners or third-party service providers.

  • The paper has disclosed that, giving a proper understanding of the operation of murabahah, the criticism against its operation by Islamic financial institution is misconceived and cannot be grounded.

  • If the Islamic financial institution invested in an instrument that is expected to generate profit at the rate of at least 5% per annum but failed to reach the targeted rate due to problems which are not attributable to the negligent conduct of the Islamic financial institution, such loss shall be borne fully by the customer.

  • The Islamic financial institution BMT (Baitul Maal wat Tamwil) develops a series of solutions to meet the complex needs of its clients.


More Definitions of Islamic financial institution

Islamic financial institution means a company licensed to carry on financial institution business in Uganda whose entire business comprises Islamic financial business and which has declared to the Central Bank that its entire operations are and will be conducted in accordance with the Shari’ah;”
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Islamic financial institution or “IFI” means−(a) a licensed Islamic bank;(b) a licensed takaful operator and professional retakaful operator;(c) a licensed bank and licensed investment bank approved under section 15(1)(a) of the FSA to carry on Islamic banking business; and(d) a prescribed institution approved under section 33B(1) of the DFIA to carry on Islamic financial business. 5.3 A glossary of terms used in this policy document is set out in Appendix 2.
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Islamic financial institution means institutions defined in clause 24.31 above and who perform their function strictly in compliance with the Islamic Shariah Principles.
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Islamic financial institution means a financial institution which is Shariah compliant including Modarabas, Non-Banking Financial Institutions, Takaful operators/ window takaful operators and any
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Islamic financial institution means a company, entity or institution offering Islamic
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Islamic financial institution or “IFI” means:(a) licensed Islamic banks under the IFSA;(b) licensed banks and licensed investment banks under the FSA approved under section 15(1)(a) of the FSA to carry on Islamic banking business; and(c) prescribed institutions under the DFIA approved under section 129(1) of the DFIA to carry on Islamic banking business or Islamic financial business.
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Islamic financial institution or “IFI” means any:
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