Islamic Finance

Islamic finance is a specialized field within the broader finance industry that operates in accordance with Islamic law (Sharia). It adheres to principles that prohibit the payment or receipt of interest (riba) and promote risk-sharing, ethical and socially responsible investments in sharia compliant businesses and asset-backed financing.  The Islamic finance industry is a rapidly growing […]

WHAT IS INTEREST? A  simple definition of interest would be that, it is the price of money. And the factor that determines the price of money is time.  So for the longer period money is lent the higher is the interest to be paid for it. Sounds reasonable considering that all things have a price, […]

IS BANK INTEREST REALLY HARAM IN ISLAM? As Muslims we all have heard that Riba (interest) is haram in lslam. But if that is the case why is the use of interest so widespread among Muslim——-even in Muslim countries ? I guess the primary reasons for the same is lack of proper understanding of the […]