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An Answer to the Global Financial Crisis Dr.Imamul Haq & Fayaz Ahmad Lone, Aligarh Muslim University, India© Islamic Finance Today Present Crisis:As we all know, the present global financial crisis primarily arose as a result of the subprime mortgage crisis of the preceding period. Many USA mortgages issued in recent years were made to subprime borrowers, defined as those with …

–    A post war view of the Sri Lankan economy and the role of Islamic Finance in it Muath Mubarak presently works for First Global Group, a Sri Lanka-based conglomerate of companies involved in the Islamic finance industry. He is a Final level student of CIMA-UK and Associate Fellow Member of Institute of Islamic Banking and Insurance (IIBI)  – UK, …

Although the Islamic mode of banking is mandated and adopted by the Islamic Republics of Iran , Pakistan and Sudan, the supply of innovative Shari’a -compliant products has been primarily led by the private sector .In fact , private Islamic banks as a group are becoming some of the largest private -sector financial institutions , with growing networks through branches …

The universal nature of these principles is immediately apparent even at a cursory glance of Non Muslim literature . Usury was prohibited in both the Old and New Testaments of the Bible , while Shakespeare and many other writers , particularly those writing in the 19th century ,have attacked the barbarity of the practice .Much of the morality championed by …

Introduction  The Islamic banking today has become most popular and reliable financial system in the world. It appeared on the world scene as active player over three decades ago. But as many of us know most of the principles which is based on Islamic Banking ,commonly accepted by the all over the world goes for centuries than the decades. Islam …

Fatwas by the Egyptian Office of the Mufti – 1900- 1989 1. Subject: Prohibition of bank interest. Question: Is the use of Bank money permissible (Halal) or prohibited (Haram) ? Is what is taken of it for trade considered Riba or not (i.e are business loans taken from a bank at a fixed rate of interest considered to be Riba)? …