February 2, 2018
The Arabic Qard and Dayn usually translate to “loan” and “debt” in English, however, these terms are also used interchangeably. The Islamic banks follow the Shari’ah […]
January 31, 2018
The need for cash for personal use is a genuine necessity of modern living and Islamic banks have developed innovative ways to provide such cash. Bai […]
January 30, 2018
Islamic Shari’ah is a rational and just code which is flexible enough to be interpreted according to needs of the time. It promotes trading as long […]
January 30, 2018
The famous command in the Quran from Chapter 2, Verse 275, “Allah has permitted trade and prohibited riba” encourages Muslims to be involved in trade and […]
January 25, 2018
As Islamic banking has evolved over last few decades, the scholars and bankers have had to develop Shari’ah-compliant products which offer means of conducting riba-free transactions. […]
January 25, 2018
The traditional banks serve the important role of financial intermediaries to pool the resources from many small investors to finance large capital projects. This role is […]
January 20, 2018
Islamic economics is governed by Islamic beliefs. The sources of beliefs include, in order, Quran (revealed scripture), Hadith (traditions of the Prophet (pbuh)), Ijma (consensus of […]
January 19, 2018
The Quranic term “riba” means usury or more commonly used term, interest, in modern economics. Riba is a gain in monetary or physical assets without providing […]
January 15, 2018
The Arabic term Gharar is translated as uncertainty, risk, speculation or hazard. Islamic anticipates the inherent uncertainty and risk of business transactions. Gharar refers to speculative […]