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February 2, 2018
Published by admin on February 2, 2018
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Loan and Debt in Islamic Banking

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 […]
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January 31, 2018
Published by admin on January 31, 2018
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Bai al Inah and Tawarruq – Credit Financing

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 […]
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January 30, 2018
Published by admin on January 30, 2018
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Sale of Non-Existent Goods- Futures Contracts

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 […]
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January 30, 2018
Published by admin on January 30, 2018
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Credit Sales in Islamic Finance

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 […]
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January 25, 2018
Published by admin on January 25, 2018
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Modes of Interest Free Banking

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. […]
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January 25, 2018
Published by admin on January 25, 2018
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Emergence of Modern Islamic Banks

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 […]
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January 20, 2018
Published by admin on January 20, 2018
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Principles of Islamic Economic System

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 […]
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January 19, 2018
Published by admin on January 19, 2018
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Riba and the Rationale for its Prohibition

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 […]
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January 15, 2018
Published by admin on January 15, 2018
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Prohibition of Gambling

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 […]
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