Islamic finance is a moral system of finance. It emphasizes the balance between for-profit activities, justice, tolerance, risk sharing and social good as well as not-for-profit activities. »

Some principles of Islamic finance stem from prior Abrahamic traditions, whilst some historical Islamic finance instruments have been adopted into modern conventional products such as letters of credit and cheques. »

“Sharia Law” is a phrase which elements of the media in the West have made synonymous with beheadings, stoning to death, the chopping off of hands, banning women from driving and education, full-face veils, intolerance and the like. Such arguments fail to understand there is no single version of Sharia Law which worlds 1.6 billion Muslims follow. Sharia Law varies greatly from country to country. »

Covering the major modern milestones of the development of the modern financial industry, from Mit Ghamr Bank to the UK Sovereign Sukuk. »

The Islamic finance industry has developed a wide range of Shari’ah-compliant financial products. To ensure that they meet this specification, they make use of contracts acceptable under traditional Islamic legal doctrine and also adapt conventional financial contracts so that they comply with the tenets of the Shari’ah. »

The Main Requirements of Islamic Finance The Quran contains explicit rules regulating personal status, contracts, property, civil and criminal law, and the economic system. The main prescriptions relating to financial transactions are: the prohibition of riba’ [1] (i.e. the payment of a fixed or determinable interest on funds); and the prohibition of economic practices that involve the concept of ... »

Why Muslims Reject Interest (Riba) Muslims consider interest as a modern equivalent to Riba; that is an income that is not earned or is unfair. The main problem with Riba is that from the very start it represents an unfair situation for one of the two parties in a business transaction or loss. Regardless of the circumstances, Muslims consider that the very concept of an interest rate is inherently... »

Haris Irfan presents an excellent overview of the Islamic Finance market, covering its history to modern day transactions. Harris Irfan, Managing Director of European Islamic Investment Bank and Partner at Cordoba Capital, ‘Inside the hidden world of Islamic finance’. Novak Druce Centre, Saïd Business School, University of Oxford, 18 November 2014. »