Islamic Finance and Fintech have become very popular terms recently. Let’s learn today about the situation of Islamic Finance and Islamic Fintechs around the world. Get Musaffa Premium Now Islamic Finance Asia, the GCC and MENA areas are the main hub for Islamic finance assets contributing 95.5% of global Islamic finance assets in 2017. Importantly, […]
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There are plenty of journals that cover Islamic Finance topics. The development of Islamic finance depends on the research of scholars and experts in their fields. Journal is the place where researchers and scholars explain their research. People generally refer to journals to find the novelty in the field of the data and findings. Here
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The world has seen rapid growth in the Islamic finance market because of the strong investments in halal sectors and services. According to the Islamic Finance Development Report, experts predict Global Islamic Finance assets to reach $ 3.69 trillion by 2024. The report stated that global Islamic Finance assets are going up moderately by 14% year
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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
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There was a time when only people who worked for large financial institutions, brokerages, and trading houses could trade actively in the capital markets. The rise of the internet and online trading platforms has actively allowed people to trade on the capital market. There are some trading styles that traders adopt in their trading activities.
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Due to the increasing interest in Islamic Finance and Islamic Banking, the need for Islamic Finance universities has gone up significantly in recent years. Consequently, Malaysia, the UK, India, Indonesia and Saudi Arabia has been the home for many Islamic Finance educational institutions. Certainly, more and more individuals are interested to study Islamic Finance at
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What is Takaful? Takaful is an alternative to conventional insurance. It is a major Islamic insurance type where participants put their money into a pool system to mutually help each other in the period of any loss or disaster. Takaful Insurance works rely on the principle of cooperation (Ta’awun). In essence, every participant of the
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Purification refers to disposing of unacceptable profits by donating them to charity. Of course, Shariah does not allow Muslims to profit from unacceptable practices and impermissible sources. So, Muslim investors are expected to eliminate any income derived from riba or other haram sources. Subsequently, Shariah scholars have given direction on the topic of income purification.
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Islamic Finance protects consumers in many ways. The most important features are its freedom from Riba, Gharar, Maysir, and avoidance of trading impermissible goods and services. Furthermore, Islamic Finance, at its core, promotes the principle of justice and equity. Get Musaffa Premium Now Prohibition of Riba Riba is usury or interest in English. Riba is
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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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