Introduction: Scenario Ousmane is a businessman from Senegal who understands the importance of diversifying income. Hence, he teams up with Abdullah; an ambitious young man who knows his way around the city and is very capable of driving motor vehicles. Seeing that there is a high-demand for taxi services in the country, Ousmane enters into […]
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 […]
Introduction Islamic finance is distinguished from conventional finance in that its principles are derived from the sources of Islamic law (#Shariah), which includes the Quran, Prophetic teachings of Muhammad (S.A.W.) and scholarly consensus (ijma), among others. Its primary value proposition is that it is constructed on the principles of justice, equity and mutual benefit. This […]
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, […]