When we talk about best Islamic banking in UAE, these include wealth management solutions, investment plans in different areas, how to take an initiative for a small-sized business plan, best credit card offers as well. The most important among all these options is the investment plan. How much to invest and possible solutions for making an investment can be done through an Islamic bank.
What are the major benefits of having Islamic banking? When we talk about investment services, most of the banks provide the option of an expert who is responsible to deal with the trading of stocks and securities, underwriting and also acts as an agent till the completion of the project. Well if you think like an investor that you can handle all such tasks all alone, I would remind you that it is impossible to handle to understand the ground trading setups and strategies all alone.
There are two kinds of banks in UAE as we have discussed already but what’s the point of difference is an important question for all readers. First of all, we will share some of the benefits of the best innovative Islamic bank in the UAE regarding diverse services.
• The services of an Islamic bank is completely interest-free and in favor of a client. Most of the people in the UAE prefer this system that’s why it is highly popular due to interest-free financial banking options. For all account holders including residents and expatriates, conditions are almost similar but vary when it comes to investment plans and loan packages.
• Through an Islamic bank, one can get loan offers, investment plans, life insurance policy, and wealth management solutions without any interest rate. Both the lender and account holder share the same space when it comes to profit and loss in a plan.
• You can also use Islamic bank credit card services without any interest rate and only bound to pay the actual credit bills. Most of the banks provide you the best services which are hard to meet by any conventional bank because they only rely on the interest rate.
Islamic banks or financial institutions work on sharia law and follow the terms/conditions in a strict manner. All of the services are provided without an interest rate which is a favorable condition for expatriates in UAE. If we have a look at conventional banking, they are restricted to provide services with an interest rate. There is nothing free and what you want to take will be charged with a fixed interest rate overall packages and plans.
Which bank you want to choose for a specific package is your own choice but we would recommend you to approach a bank with diverse options. You can take all kinds of offers and calculate the overall charges through a calculator available on the official site of a bank. For the latest information, visit the official site of a bank and hit the Islamic portal to get the latest updates