An Islamic financial system is governed by additional rules designed to help a society establish social justice and eliminate financial exploitation.
What is Shariah? What does it have to do with a financial system? How can a 1,400 system of rules inform decisions about a modern, digital financial system?
Warnings against riba (usury) date back as far as 2,000 BC. Learn why so many religions despise and prohibit riba, and learn the basis for why usury is prohibited in Islamic finance.
The word riba literally means excess, increase or addition. But what is riba from Shariah point of view and what are the major types of riba?
Learn why excessive uncertainty (gharar) is prohibited and what types of conditions could be excessively uncertain.
Gambling is one of the fundamental prohibitions in Islamic finance. Learn what is prohibited gambling and why it is not permissible and unlawful.
What's an Islamic contract? What are the key elements of an Islamic contract, and what are the requirements for a contract to be valid and lawful?
What is sale? What are the types of sale? How valid sale is differentiated from void sale? What are the basic things we need to observe in the contract of sale?
What are the different types of sale contracts? How these types are different from each other and what are their conditions for validity?
Murabaha forms the backbone of the Islamic banking system. What is murabaha? What are its basic conditions, and how does it work in Islamic banks? Learn about murabaha in the classical context and how it's used in the modern Islamic finance context.
What are the applications of murabaha in modern Islamic financial institutions? What is MPO and how MPO is different from an ordinary murabaha?
What is musharakah? Why it is an ideal contract? What are the different types of musharakah?
What are the basic rules and conditions of musharakah contract? And how it works in Islamic financial institutions?
What is musharakah mutanaqisah or “diminishing musharakah”? Why it is innovated by contemporary scholars? How musharakah mutanaqisah is used in Islamic banks and financial?
What is mudarabah? Why mudarabah is permissible? What are the types of mudarabah?
What are the basic rules and conditions for mudarabah contract? What are the differences between mudarabah and musharakah?
How mudarabah is used in modern Islamic financial institutions? What is the mechanism for investment account based on mudarabah? How the contract of mudarabah is structured for project financing?
What is ijarah? What is difference between ijarah and sale? What are the types of ijarah?
What are the basic rules and principles of the contract of ijarah? What are the similarities and differences between ijarah and sale?
The contract of ijarah is widely used in modern Islamic financial institutions. This article briefly sheds light on some important applications of ijarah
What is bay al-salam? Is it an exceptional type of sale? Why it is allowed?
This brief article explains the specific conditions and requirements of salam contract which need to be observed apart from the general requirements of sale.
How the concept of salam is applied in modern Islamic financial institutions? Is salam contract can be used to finance agriculture sector.
What is bay al-istisna? Is it an exceptional type of sale? What are the differences between istisna and salam?
Learn about construction finance using the istisna contract and the specific conditions and requirements which need to be observed.
How is the lease (istisna) contract used in modern Islamic financial institutions and what is the process of "parallel salam"?
What is wakalah? What are the types of wakalah? Why the contract of wakalah is needed?
What are the basic rules of agency (wakalah) contracts? What are the key features of a wakalah?
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