Islamic Finance

Website “   BestBusinessPractice.Org” By Fazal Issadeen ([email protected]) Fazal has completed five decades in the ICT field and has turned around many businesses since 1999.                                             The Islamic faith stresses a lot on planning. This is evident in a number of …

INNOVATIONS IN ISLAMIC MICROFINANCE: LESSONS FROM MUSIM AID'S SRI LANKAN EXPERIMENT

 Muslims worldwide have come to the realisation that the prevailing capitalist economic system does not serve us ethically. With its interest-based banking and casino-style financial instruments, a devout believer has no choice but to attempt to escape its haram, even if that hinders the progress and prosperity of our daily lives. In recent years, Islamic finance has been touted …

​Islamic finance is a way of doing financial transactions and banking while respecting Islamic law or sharia. Islamic finance hardly existed 30 years ago yet today is a $4 trillion industry with hundreds of financial institutions located in more than 80 countries. Islamic banks are by far the biggest players in the Islamic finance industry and account for $1.75 trillion or 70% of …

The Riyadh skyline. In Saudi Arabia, the implementation of Vision 2030 and continued growth in mortgage lending supported the Islamic finance industry’s growth, S&P said. EPA The global Islamic finance industry is expected to grow by around 10 per cent in 2023-2024 despite the economic slowdown, after posting a similar expansion in 2022 mainly led by the GCC countries, according to S&P Global …