Islamic car finance,Halal Car Finance: Sharia-Compliant Car Financing in 2023 In 2023, Islamic car finance continues to gain prominence as a preferred option for Muslim drivers in the USA, Canada, UK, and Australia who want to adhere to the principles of Sharia law while acquiring a vehicle. This financial solution, known as halal car finance, ensures that the entire process aligns with Islamic ethical guidelines, making it a viable…
Is trading in Share Market Halal or Haram ? Exploring the Scholars' Perspectives Is it allowed to trade stocks in Islam? Stock Trading in Share Market and the Foundation of Islamic Finance Islamic finance is rooted in Shariah, the body of Islamic law derived from the Quran and Hadith (sayings and actions of Prophet Muhammad, peace be upon him). It operates on principles of fairness, ethical conduct, and avoidance of activities considered haram (forbidden)…
What is a sukuk? A sukuk is an Islamic financial certificate, similar to a bond in Western finance, that complies with Islamic religious law (Sharia). Unlike traditional Western interest-paying bonds, sukuk involves the issuer selling a certificate to an investor group, using the proceeds to purchase an asset in which the investors have direct partial ownership interest. The issuer also commits to repurchasing the bond at its par value…
Halal Jobs for Muslims in North America-Halal Job Market Trends With a growing Muslim population in North America, the demand for Halal products and services has surged. The Halal industry encompasses various sectors, offering an array of career possibilities. Halal Jobs for Muslims in North America What are halal employment options? Food and Beverage Industry: From Halal restaurants to food quality control, this sector offers diverse opportunities for those…
Types of Bay Gharar in Islamic Finance Gharar is an Arabic term that refers to uncertainty, ambiguity, hazard, and risk in a contract or transaction. It signifies the presence of excessive uncertainty or ambiguity that can lead to disputes or exploitation of one party by another. Key Aspects of Gharar in Buyu Excessive Uncertainty: Gharar arises when a contract contains an unacceptable level of uncertainty. This uncertainty can be…
Islamic finance jobs USA Islamic finance is a form of financial system that is based on the principles of Islamic law (Shariah). Islamic finance prohibits interest (riba), gambling (maysir), uncertainty (gharar), and unethical activities that harm society or the environment. Islamic finance also promotes risk-sharing, social justice, and financial inclusion¹ It is a unique financial system rooted in ethical and Shariah-compliant principles. It stands as an alternative to conventional…
Oman declares Bitcoin Halal and in line to Islamic finance and Islamic sharia. The government of Oman is supporting investments in bitcoin mining centers and crypto-savvy -getty image Oman declares Bitcoin Halal Also Read : Is Bitcoin Halal or Haram according to different Muslim scholars H.E Sheikh Mansour Bin Taleb Bin Ali Al Hinai, Chairman of Oman's Authority for Public Services Regulations, publicly commented in a press statement about…
Bitcoin and Islamic Finance, Is Bitcoin Halal or Haram, an Islamic law perspective. Is Bitcoin Halal or Haram from Islamic law perspective is a question that has been troubling me from many days. Recently I read “Shariah Analysis of Bitcoin, Cryptocurrency, and Blockchain” by Mufti Muhammad Abu Bakar, who is a Shariah advisor and auditor at Blossom Finance in Indonesia. I took some notes on Bitcoin and Islamic Finance and made…
Saudi Arabia to Issue Sharia-Compliant Bonds worth billions Saudi Arabia intends to release substantial sukuk, or Islamic law-compliant bonds, with the aim of enhancing the domestic market. The National Debt Management Center (NDMC) recently revealed that Saudi Arabia has repurchased $9.52 billion worth of debt, encompassing debt instruments set to mature in 2024, 2025, and 2026. In line with the Local Saudi Sukuk Issuance Program, Saudi Arabia's government is…
Why is Interest Haram in Islam? Interest (Riba) is considered haram (forbidden) in Islam, as it goes against the fundamental principles of fairness, justice, and social welfare that are deeply ingrained in the Islamic economic system. Books on Islamic banking The Definition of Interest (Riba) Interest, or Riba, is defined as the predetermined excess payment received by a lender over and above the principal amount of a loan, without…
Challenges For Islamic Banking The Islamic finance industry continues to attract new players and evolve its products and services to become a more active participant in the world's march towards achieving climate goals. The key Islamic finance jurisdictions are focused on sustainability and ESG policies and initiatives. Looking back at 2020, Malaysia, Indonesia, and Saudi Arabia were notable actors as they continued leveraging sukuks to finance social and green…
Islamic Investment Funds in Islamic shariah investment Islamic Investment funds have gained popularity over the years, especially among Muslim investors who seek to invest their money in a way that aligns with their religious beliefs. Islamic Investment Funds offer a unique approach to investing that is based on ethical and moral principles. Do you know what is Islamic Fintech? Read this detailed article on Islamic Fintech. The term "Islamic…
