1 Revenue for conventional banking sector can be classified into two categories: interest and non-interest income. Explain the revenue recognition for both categories and provide TWO (2) examples for each category. 

 2 Islamic banking is a banking system that aligns with the spirit, value and principles of Islamic Shariah law. REQUIRED: (a) Identify 3 principles of Islamic banking. (b) Explain 5 differences between Islamic banking and conventional banking. 

 

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Revenue Recognition in Conventional Banking 1 Interest Income Recognition Recognized over the life of the loan or financial instrument using the accrual accounting method This means revenue is earned ... View the full answer