Islam Hashtag - Islamic Finance Series

6 Challenges For Islamic Banking 2023

Post published:May 23, 2023
Post category:Islamic Reflection .Islamic finance Money

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…

5 Types of khiyar in Buyu/right of the buyer & seller in Islamic transaction.

Post published:May 30, 2022
Post category:Essential of deen

The term khiyar refers to the option or right of the buyer & seller to rescind a contract of sale. Literally, the word khiyar denotes a choice on the part of the holder of the right of option, who may either conirm the act or render it void. Legally, khiyar means the option or right of withdrawal for the parties involved to terminate the legal act unilaterally.. Khiyar Majlis:…

What is Riba and the two types of Riba?

Post published:May 28, 2022
Post category:Essential of deen Islamic Reflection .

The word "Riba" means excess, increase or addition. According to Shariah terminology, it implies any excess compensation without due consideration RIBA IN THE QURAN First Revelation (Surah al-Rum, verse 39)“That which you give as interest to increase the peoples' wealth increases not with God; but that which you give in charity, seeking the goodwill of God, multiplies manifold.” (30: 39)Second Revelation (Surah al-Nisa', verse 161)“And for their taking interest…