Archive for the ‘Islamic Banking Fundamentals’ Category
Thursday, October 11th, 2007
By Aaron MacLean
From the March/April 2007 Issue of "The American"
Muslim scholars say the Qur’an prohibits collecting interest on loans. But many banks, both global and local, have found clever ways to meet religious ...
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Monday, October 1st, 2007
Reprinted from BBC Online:
The UK's first Islamic Child Trust Fund(CTF) has been launched.
There are now a range of products - including current accounts, mortgages and even personal loans - which comply with Sharia Islamic law.
BBC News examines Islamic finance and how it works.
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Wednesday, September 5th, 2007
The concept of takaful, or Islamic insurance, where resources are pooled to help the needy does not contradict Shariah. The concept is in line with the principles of compensation and shared responsibilities among the community. It is not a new concept, in fact it had been practised by the Muhajrin ...
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Wednesday, August 1st, 2007
It is a Muslim’s belief that any misfortune that befalls him, that results in the loss of life or belongings, is by the will of the Almighty Allah. At the same time, we are also taught to take positive steps to avoid or reduce the possibility of these misfortunes as ...
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Tuesday, July 3rd, 2007
Are you confused by the Arabic terms used in Islamic banking and finance? Unfamiliar with the various types of financial products offered? This glossary of Islamic banking concepts may help:
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Saturday, May 5th, 2007
Another great article from Soundvision.com:
I think the first person who introduced the idea of credit cards to me was Wilma Flintstone of the kids' cartoon The Flintstones.
She and her friend Betty Rubble would occasionally, holding small semi-rectangular cards, announce in unison "Charge!", then set off for the shopping mall to ...
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Friday, January 5th, 2007
Islam, being a very comprehensive religion, encompasses many areas typically thought of as secular, including the financial sphere. Islam presents moral guidelines for business transactions, trading, investment, and exchange markets.
The totality of religious codes in Islam, including spiritual, economic and political, is known as the Shariah. The Shariah is the ...
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