Issues and Relevance of Islamic finance in Britain Introduction Philosophical Foundation and Core Concepts Islamic finance is an ethical, indigenous and equitable mode of finance, which derives its principles from the Quran (The revealed book of Muslims) and tradition of the Prophet Muhammad (pbuh). Shariah law (Islamic law), which is […]
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Islamic Banking: True Modes of Financing
Islamic Banking: True Modes of Financing By Dr. Shahid Hasan Siddiqui, Eminent Pakistani Banker & Economist. Introduction Prohibition of interest is ordained in Islam in all forms and intent. This Prohibition is strict, absolute and unambiguous. The Holy Qur’an in verse 278 of Surah Al-Baqarah states: “O ye who believe! […]
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