METHODS AND INSTRUMENTS

In the beginning the Muslims used gold and silver by weight and the dinar and dirhams that they used were made by the Persians. The first dated coins that can be assigned to the Muslims are copies of silver dirhams of the Sassanian Yezdigird III, struck during the Khalifate of Uthman, radiy'allahu anhu. These coins differ from the original ones …

Translation of Sahih Muslim, Book 11:   INTRODUCTION   Inheritance is the entry of living persons into possession of dead persons'property and exists in some form wherever the institution of private property is recognised as the basis of the social and economic system. The actual forms of inheritance and the laws governing it, however, differ according to the ideals of …

© Islamic Finance Today BEATA PAXFORD is a lawyer and a Ph.d. candidate in banking law. Beata is currently writing her dissertation on Islamic banking at the Warsaw University in Poland. Her main areas of specialisation include corporate and banking law. She is an Islamic banking advocate in Poland and hopes to popularise Islamic based financing in the CEE countries. …

Introduction The subprime mortgage crisis, popularly known as the “mortgage mess” or “mortgage meltdown”, came to the world’s attention when a surge in US home foreclosures (repossessions) started in 2006 and spiralled seemingly out of control in 2007 and 2008. It triggered a national financial crisis that went global within two years. It has caused billions of dollars losses to …

How does one go about reducing poverty levels and providing micro finance (MF) in Muslim societies? How does one make a choice between the Islamic model of MF and the MF "best practices" that reflect wisdom and lessons learnt from decades of "real-life" MF experiments. The former is normative and largely an untested proposition in the context of a modern …

Capt.Jamil Akhtar Khan is the CEO of Takaful Pakistan. With a background in the Merchant Navy, Capt.Jamil commanded vessels of the national flag carrier PNFC before switching over to insurance. Before joining Takaful Pakistan he served with New Jubilee Insurance where his interest in Takaful was evoked. He is regarded as a pioneer in the introduction of Takaful to Pakistan, …