Search Islamic Finance Answers

1,000+ scholar-approved answers and growing...

Banks Fees For Guarantee
When a client opens an account for documentary credit it is customary that the amount is considered approximate, varying upward or downward, for instance, 10%. When the client terminates this line of credit how does the bank calculate its fees?
The bank should calculate its fees on the basis of the agreement between the two parties and in return for a banking service. It is of no consequence if the amount is greater or less than the initial estimate since when the bank determines the fee it must consider actual expenses only regardless of the credit amount.

ASK AN ISLAMIC FINANCE QUESTION

Each question is reviewed by an Islamic finance expert and approved by a scholar.

Ask Now »

SEARCH ISLAMIC FINANCE Q&As

Browse one of the world's largest database of Islamic finance Q&As available online.

View details »

What’s New at Ethica

Press releases, live events, book recommendations, discount offers, and more

View details »

sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter