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Exploring your banking options in Saudi Arabia
You’ve reached an exciting milestone in your life. As you embark on your journey toward independence and financial responsibility, it’s essential to make informed decisions about where you’ll keep your hard-earned money. In this guide, we’ll introduce you to some of the prominent banks in the Kingdom and help you make an informed choice. 1.…
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101: What is life insurance?
Life is full of unexpected twists and turns, and as young adults, it’s easy to get caught up in the present moment. However, it’s important to consider your financial future and take steps to protect it. One crucial aspect of financial planning that often gets overlooked by young adults is life insurance. In this blog…
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Investing 101: What is a bond?
When considering and researching different forms of investment, you’ll come across the term ‘bond’. Many people invest in bonds as they see them as safer and typically less volatile options than stocks. Sukuk and bonds provide relatively safe periodic returns to investors. We’re going to break this post into two parts: halal bonds and conventional…
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Key terminology in Islamic banking
We’ve covered the differences between Shariah-compliant, Islamic banking, and conventional banking you find across the globe. We will cover a few key terms that will aid you in understanding how this form of banking works. Here are a few key types: Murabaha: A form of sale where the cost of the goods sold and the…
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An Islamic bank vs. a Conventional bank
The common practices of an Islamic bank and a Conventional bank came into existence along with the foundation of Islam. However, the establishment of formal Islamic finance occurred only in the 20th century. Nowadays, the Islamic finance sector grows at 15%-25% per year, while Islamic financial institutions oversee over $2 trillion. Presently, Islamic banking has been…
