Accountability Before Affluence: The Four Questions Every Soul Will Face
From the Islamic worldview, wealth is not a private right but a divine trust, an amanah entrusted by Allah to whom He wills, as He wills, for however long He wills. It is neither a badge of honor nor a measure of worth. Rather, it is a test — a means of elevation or destruction […]
Digital Waqf 2.0
Digital Waqf 2.0: How Islam’s oldest institution can benefit from blockchain technology The institution of Waqf has been a cornerstone of Islamic Welfare for hundreds of years. In modern times, this institution has been revived through Islamic Finance in several ways, like cash waqf, Sukuk linked Waqf and many more. Blockchain has emerged as a […]
Zakat on Digital Assets
Zakat on Digital Assets: Shariah Perspectives for Islamic Finance Introduction The rapid advent of blockchain-based instruments – notably cryptocurrencies, tokenized assets, and non-fungible tokens (NFTs) – has transformed modern finance and captured widespread interest among Muslims. As Shomad & Ghani (2024) observe, “the rapid emergence of digital assets, specifically cryptocurrency, has transformed modern finance, introducing […]
Islamic Finance Unveiled
Islamic Finance Unveiled: What’s Fact and What’s Fiction. Islamic Finance has emerged as an alternative and counterpart to conventional finance in the last few decades. Although it has proven to be a reliable and often profitable system, it isn’t without its critics. Many people, in and outside the Muslim world have criticized Islamic Finance for […]
The Seriousness of Debt in Islam: A Spiritual and Social Responsibility
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 in this […]
The Invisible Hand of Barakah
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 […]
Takaful: The Ethical Alternative to Conventional Insurance
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 […]
Non-Fungible Tokens (NFTs): An Economic and Shariah Perspective
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 […]
Islamic Wealth Planning and inheritance: “Planning your legacy the Islamic Way”
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 […]
Islamic Savings Account 101: What Actually makes them Halal.
You walk into your neighborhood branch and see two seemingly identical counters. One says, “Conventional Savings” and the other reads “Islamic Savings.” Both offer debit cards, online banking and mobile apps. What, then, sets an Islamic savings account apart from its conventional cousin? This primer explains the contracts, profit mechanics and consumer protections that make […]