They say: “If you want to lose a friend quickly, lend them money, you may end up losing both the money and the friend.” In Islam, financial dealings are not merely worldly transactions, they are spiritual responsibilities with serious consequences. While much is said in Islamic finance about contracts, riba, and commercial ethics, our focus […]
There is a saying that goes, “Barakah is not having more, it is doing more with less.” When we think of wealth, most people focus on quantity like how much they earn, how much they save, how much they can invest. But in Islam, we’re taught to look beyond numbers. It teaches us that real […]
In today’s uncertain world, protecting our lives, businesses, and families from financial shocks is not just a luxury—it becomes a necessity. Therefore insurance has been introduced. But for Muslims seeking financial products aligned with their faith, conventional insurance poses serious Shariah concerns. This is where Takaful, the Islamic alternative to insurance, steps in as a […]
The emergence of blockchain-based Non-Fungible Tokens (NFTs) has transformed digital asset ownership by introducing unique, immutable, and verifiable digital representations of assets across various sectors. Despite their growing popularity, NFTs have sparked significant debates in Islamic finance due to their novelty, economic implications, and potential conflicts with Shariah principles. This study illustrates the existing landscape […]
Life is extremely precious, and delicate. In one moment, you’re here, and in the next you are gone. The same goes for your wealth, one day you are a captain of industry, making significant strides in the economic sphere and the next day, you might be living from hand to mouth. Allah says in the […]
Introduction As I sit down to reflect on 2024, I’m filled with gratitude for the opportunities Allah has blessed me with to serve and contribute to the development of Islamic finance across the globe. Last year has been a remarkable journey of growth, learning, and impact – from boardrooms in Malaysia to conference halls in […]
INTRODUCTION: Learning the Ropes A man once asked the Prophet Muhammad (S.A.W) whether he should tie his camel and rely upon Allah or leave it loose and rely upon Allah. The noble Prophet of Islam responded, saying “tie it and rely upon Allah.” From this brief yet profound hadith, we garner that Islam calls upon […]
Mr. Amine a dedicated businessperson has always thought that his financial success in life should impact society in a positive way hand in hand. He was intrigued when he heard about value-based intermediation (VBI), a mind-blowing approach in Islamic Finance that connects profits with purposes in Islamic Finance. But it was not until he also learned […]
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 […]
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