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Al Yusr gets personal.

Byline: (Staff Writer)

Al Yusr Islamic banking  Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics.  service expands product offering with Tawarroq personal finance. Follows recent launch of Car Murabaha  Murabaha is defined as a particular kind of sale, compliant with shariah, where the seller expressly mentions the cost he has incurred on the commodities to be sold and sells it to another person by adding some profit or mark-up  product.

Al Yusr, the Islamic banking arm of IBQ IBQ Iowa Brass Quintet (University of Iowa)  is expanding its portfolio with the addition of Tawarroq personal finance. The company said the solution is compliant with the standards of Shari'ah.

A press release said that the Tawarroq personal finance solution "offers customers highly competitive profit rates, fast approvals, and rewarding and flexible financing terms", although it didn't specify exactly what they were.

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Publication:CPI Financial
Date:Sep 6, 2009
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