Islamic finance is a system of financial services that are guided by Islamic principles and values. These principles include the prohibition of interest, the prohibition of uncertainty and speculation, and the requirement for assets to be tangible and productive. One of the key principles of Islamic finance is the prohibition of interest, or riba. This …
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What differentiates Islamic finance from its conventional counterpart is being Shari’ah compliant. Thus, it is vital to understand what Shari’ah means and how it governs different aspects of Islamic finance and beyond. Shari’ah literally means ‘the way’ or ‘a path to a watering place’, ‘a clear path to be followed, and more precisely, ‘the way …
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Beyond Interest Avoidance: Understanding the Principles and Values of Islamic Finance!
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