Differences Between Islamic Banks & Conventional
One must refrain from making a direct comparison between Islamic banking and conventional banking (apple to apple comparison). This is because they are extremely different in many ways. The key…
One must refrain from making a direct comparison between Islamic banking and conventional banking (apple to apple comparison). This is because they are extremely different in many ways. The key…
Allah s.w.t. prohibits Muslims from consuming property without due rights (bathil). The Prophet s.a.w. also elaborates the meaning of ‘bathil' with the prohibition of gharar. According to scholars, gharar is one of the branches…
One critical aspect in particular highlighted : • The high profit rate charged by Islamic Bank for their financing product as compared to the interest rate charged by Conventional Bank.…
Even if the moral law has been strictly observed in every step of the process of acquiring wealth, our wealth still needs justification on another level and this is where…
"Dayn" means "debt" and "Bai' " means sale. "Bai'-al-dain", therefore, connotes the sale of debt. According to Majalah al-ahkam al-adliyah, no 158 ; Dayn defines as the thing due i.e…
May 1 (Bloomberg) -- Sheikh Nizam Yaquby is the gatekeeper to the $1 trillion market for managing Muslim wealth. Yaquby, who lives in Bahrain, says he's on advisory boards of 40 finance…
Islam teaches Muslims how to conduct every aspect of their lives including financial and economic affairs. The Holy Qur'an makes it clear that entering into transactions that involve riba (or…
This writing will try to respond to all the questions raised. Firstly, one must have in mind that Allah, the Most Merciful, has stated clearly in the Quran: “ Those…
Question What is the biggest challenge facing the Islamic Finance industry at the moment? My opinion, apart from being under the umbrella of the conventional system, law and its framework,…