ISLAMIC LOAN

HALAL LOAN INDONESIA ISLAMIC BANK

INDONESIA ISLAMIC FINANCE

In Indonesia and Islamic loan or halal consists of a form of lending made according to Islamic law (Sharia), which forbids the use of interest, making an Islamic loan an interest-free loan, but through the halal structure of a financing transaction a borrower will be charged via a profit fee.

In Indonesia Islamic finance law views lending with interest as a facility that only favors the lender when charging interest at the expense of the Indonesian borrower and Sharia considers that a lender should not be able to receive income from money in form of interest.

In Indonesia, there is a large number of Islamic banks applying Sharia-compliant finance which consists of profit banking in which the financial institution shares in the profit and loss of the Indonesian borrower or enterprise that underwrites an Islamic lending facility.


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