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News and Media

The first Islamic bank, was lauched at Suffren Hotel in Port Louis...

 

Read more at: www.telegraph.co.uk

Mauritius opens first fully-fledged Islamic bank

Century Banking Corporation Ltd, Mauritius's first fully-fledged Islamic bank, has officially opened, as the palm-fringed island strives to become a regional Islamic banking hub...

 

Read more at: business.mega.mu

News and Islamic Century Banking Corporation launched

PRESS DIGESTS

ONLINE NEWS

FINANCIAL STATEMENTS/REPORTS

BROCHURE

KNOW YOUR CUSTOMER (KYC) POLICY

 

By the Mauritius Bankers Association Limited

 

November 2014

IQRA News

Islamic finance is open to all stakeholders, and not just those of the Muslim faith

Dr. Muniruddeen Lallmahamood

CBC is a boutique investment bank, combined with private banking and international banking facilities, which targets mainly clients from Africa, Asia and Middle East by offering tailor-made Shari’a compliant products and services.

A PRIMER ON ISLAMIC

FINANCE & BANKING

 

By the Century Banking Corporation

 

February 2015 

Le Matinal

Il ne faut pas se focaliser uniquement sur les services financiers

Dr. Muniruddeen Lallmahamood

Pour accroître le développement économique du pays, il ne faut pas se cantonner au secteur financier comme moteur de croissance.

Islamic Banking!! How does it work?

Published on YouTube May 12, 2015

A simple explanation on how an Islamic Bank operates by Dr. Muniruddeen Lallmahamood. Islamic finance does not, and should not, deal with money directly as money cannot earn more money by itself. Money must be put into real business activities to earn extra money. This is the whole basis of trading. In other words, IFIs facilitate the financing needs of customers by becoming sellers, lessors or partners as the case may be. The function of money has been transformed from a commodity into an enabler to facilitate trading, leasing and investment as illustrated in the video.

 

The pool of money, collected through various Islamic accounts and or shareholders’ funds, is channelled to finance trade, lease or investment activities. From a micro perspective, the money has been transferred into real economic stock in order to generate more income. Thus, the profit generated by IFIs is the outcome of dealing with a real asset rather than a monetary asset.