What Are the Two Different Banking Methods That Islamic Banks

question 109

Essay

What are the two different banking methods that Islamic banks have experimented with in order to avoid the payment or receipt of interest?

---

Definitions:

Mental Age

A measure of an individual's mental ability expressed as the age at which an average individual reaches the same level of mental performance.

IQ

Short for Intelligence Quotient, a measure of a person's intelligence as indicated by an intelligence test, compared to the average for people of their age.

Chronological Age

The measure of an individual's age based on the calendar date from their date of birth.

Intelligence Quotient

A standardized measure of human intelligence based on a series of tests that assess cognitive abilities in relation to an age group.