What is Zakat? Firstly, what is Zakat? It is the mandatory act of allocating some amount of one’s own wealth for a greater good. Get Musaffa Premium Now Objective The main principle of Zakat is to provide the downward flow of wealth from individuals who possess it to individuals who need it. Furthermore, the act of […]
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Development of Islamic Finance The UK has witnessed rapid growth in the Islamic Finance sector in the last five years. UK market is the 17th largest in Islamic Finance out of 48 countries. Furthermore, it is the first non-Muslim majority country to be the main Islamic Finance hub in Europe. Initially, with the introduction of
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Islamic Finance is blossoming in this world from time to time. There are strong Islamic inter-bank money markets and Islamic capital markets at work. Islamic Finance had been established to avoid riba’, gharar, and maysir. In this article, we will look into the four principles of Islamic Finance. The following are the four principles of
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If you have been asking yourself “What Is Bitcoin? Is Bitcoin Haram?”. Then you came to the right place. We will discuss the same questions in this blog post. Bitcoin is the largest and most well-known type of cryptocurrency. Generally, you can create, trade, and store bitcoins using a decentralized ledger system known as a
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As a Muslim investor, you need to know whether cryptocurrency is Haram or Halal. Arguably, the cryptocurrency system can involve both Halal and Haram elements. You can assess any digital currency from both technological and Islamic perspectives to check their Shariah-compliance. Islamic law provides a set of certain conditions that must be met for an
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As cryptocurrencies are becoming an important part of the investment world, we want to talk about 3 types of Shariah-certified halal cryptos. However, we are not saying that other types of cryptocurrencies are haram. Depending on their nature, cryptocurrencies can be halal or haram. Evidently, these 3 cryptocurrencies have already gone out of their way
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Nisab is the minimum amount of wealth that a Muslim needs to possess before paying Zakat. Get Musaffa Premium Now You can measure it by gold or silver. According to Islamic Relief of the United Kingdom the Nisab is as follows: Otherwise, you can use the cash equivalent. You give Zakat based on your
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Based on the market capitalization which is often called a market cap, stocks are classified into 3 different categories, they are large-cap, mid-cap, and small-caps. In general, market capitalization refers to the total measure of the estimated valuation of a company. Market cap is found by multiplying the stock price of a company by its
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Bonds and Stocks. Are they distinguishable? A conventional bond is a loan from the holder to the issuer of the bond. Generally, the issuer pays the holder interest at fixed intervals and pays the principal back at maturity. When governments and corporations want to raise money, they issue bonds. The value of the bonds can
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Here we will talk about 4 types of bonds. Usually, government issues most bonds, whilst many companies and corporations offer their bonds as well. Because governments, compared to companies, are more stable and can raise taxes if needed to cover debt payments. Get Musaffa Premium Now U.S. Treasuries You can consider US Treasuries as the
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