To reach our financial dreams, we can’t rely just on our cash in the bank account. We know that our money in the bank will not be able to generate high profit. Besides, inflation will erode its value without us realizing it. Therefore, every financial planner always suggests their clients to have any financial instruments […]
How to Do Business and Invest like Prophet Muhammad (PBUH) Read More »
If you want to learn more about popular investment trends for 2022, this article is for you. Looking back at 2021, everybody was preparing for the next economic boom and travels. It was because half of the worldwide population has been vaccinated. However, new variations of the virus, Delta and Omicron, are still causing to
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There are five types of collectibles that people are willing to pay more, and they may have solid returns in the future. In the following, we will introduce them one by one. However, first, let’s briefly look into what collectibles are. Get Musaffa Premium Now What are Collectibles? A collectible is any object that a
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Shariah provides guidelines for the nature of the business, with a focus on religious values and social well-being. Following Islamic principles, Muslims can only deal with a company that operates in the accepted (halal) business. Muslims are prohibited from involving in businesses that directly or indirectly deal with riba and prohibited activities, such as the
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Islam forbids the adoption of interest (riba) due to the negative consequences that come with it. There is a strong bond between interest and conventional finance. Interest is the most important component of traditional finance. However, Islamic banking and finance must follow Shariah principles guided by Islamic law, which prohibit the use of interest (riba)
The Concept of Riba and 3 Main Consequences of Riba From Islamic Perspective Read More »
Doing charity is one of the best practices of every Muslim. The Holy Quran instructs us to help those who are in need. We should help our surroundings not financially, but also in financial terms as well. When we speak about financial terms, there are several ways to help those in need, including Zakat and
The Main Difference between Zakat and Sadaqah Read More »
Zakat and Waqf both promote giving. However, Zakat is something that is compulsory for Muslims; Waqf is a voluntary action. Waqf is a special way of giving which the gift will continuously benefit the community. Get Musaffa Premium Now What is Zakat? Allah says, “—and perform al-salat and give zakat, and lend to Allah a goodly
How Zakat And Waqf Are Different And Similar? Read More »
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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