An Islamic saving account is defined as a form of investment deposited account with an Islamic bank or Muslim insurance by a Muslim investor who invests his money according to the principles of Islamic finance.
Islamic saving accounts are intended to allow a Muslim saver to be able to invest his savings in a context respecting the rules of Islamic Sharia that applies the principle that the money saved and invested is not used to finance commercial activities that would be against Islamic ethical values.
Halal saving accounts are now offered by many Islamic banks and insurance companies that which make them compatible with Muslim ethics, that differ from conventional ethical investments by prohibiting the use of interest as a remuneration option.
Islamic savings allow Muslim savers to invest their savings with financial organizations that respect Islamic Sharia law as deposits adapt to Islamic ethical finance and Islamic savings can also take several forms including Islamic capitalization life insurance which is a Muslim ethical investment option, but also:
Islamic saving accounts as so far safer than conventional money placements given that it applies following principles:
GLOBAL CROWDFUNDER FOR BUSINESS REAL ESTATE AUSTRALIA UNITED KINGDOM CANADA INDONESIA SINGAPORE MALAYSIA JORDAN IRAN EGYPT DUBAI FOR STUDENT SAUDI-ARABIA LIBYA INDIA SAVING ACCOUNT BANK ACCOUNT BANK OVERDRAFT WITHOUT JOB NO PROOF INCOME FOR OVER-INDEBTED FOR RETIRED PERSON ISLAMIC MICROFINANCE WELFARE LOAN PERSONAL LOAN HALAL INVESTMENT LOAN COMPARISON FOR WOMEN ISLAMIC PAYDAY LOAN HALAL MOTORCYCLE LOAN HALAL PAWNBROKING