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 […]
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 […]
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 […]
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 […]
Islamic economics is governed by the principles of Sahri’ah and Sharia’h is mainly concerned with human welfare. Islam is complete way of life and accounts for […]
Islam is often called the natural religion. While it promotes individual freedoms to maximize human potential, it regulates economic activities under divine principles ensure justice in […]
