Muslims and non-Muslims often ask the question, is Islam (i.e. Islamic law or the Shariah) compatible with current times? Is it able to adapt to the age of technology wherein which multi-million-dollar transactions are concluded in just milliseconds?? Can it cope with the fast-changing world to meet the needs and demands of human beings?! To […]
Introduction The Islamic finance (IF) industry is often accused of being a carbon copy of conventional finance. The general perception held amongst Muslims and non-Muslims alike is that the difference between its products and instruments and those of conventional finance simply lies in its uncanny use of legal twists and tweaks (hilah Shariyah) to assert […]
Intro–Construction In recent times, thought leaders of the Islamic finance (IF) industry have come to the realization that the industry, at some point, had skidded off its original track whilst ‘religiously’ competing with conventional financial institutions for market share. Since then, the IF industry’s fruits have germinated from seeds planted by the prophet of capitalism, […]
A Halal Introduction From an Islamic perspective, all human endeavors fall under one of 5 jurisprudential rulings, namely, obligatory (wajib/fard), recommended (mustahab/mandub), permissible (halal/mubah), disliked (makruh) or forbidden (haram). Of these 5, ‘haram’ has become a household word used by all – Muslims and non-Muslims alike. Its antonym is ‘halal’, meaning permissible (according to the […]
Blockchain, Cryptocurrency and ICO have been the trendy topics in FinTech (financial technology) and other tech forums for the last few years. The well-known technology infrastructure providers including Microsoft Azure, Amazon AWS and IBM all started providing support for managed Blockchain services. Very often, we get excited to know about new Blockchain based pilot initiatives […]