Rizqonomics

 Islam, Economics & Finance. 

 

Discover more About the Islamic economic ecosystem

We aim to write our posts in a clear and easy to understand manner.

𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗶𝗻𝗴 𝗮𝗻𝗱 𝗦𝗲𝗹𝗹𝗶𝗻𝗴 𝗖𝗼𝘂𝗿𝘀𝗲𝘀 𝗼𝗻 𝗦𝗼𝗰𝗶𝗮𝗹 𝗠𝗲𝗱𝗶𝗮!

In this day and age we see many Muslims selling their courses on social media. Online learning is a blessing as it enables us to learn new information from various experts from the comfort of our...

Islamic Finance & Interest Rate Benchmarking!

A common concern amongst customers of Islamic financial institutions is in regards to the pricing or benchmarking of Shariah compliant products to the prevailing interest rate. In simple terms, if...

Shariah Governance & Fintech/Startups

You can see quite a few Shariah compliant FinTech companies & startups operating with only a single Shariah Advisor or sometimes none at all. In a lot of cases this might be due to the cost...

𝗦𝗵𝗮𝗿𝗶𝗮𝗵 𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 & 𝗦𝗵𝗮𝗿𝗶𝗮𝗵 𝗚𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀!

In certain jurisdictions, some Shariah Advisory Companies have been affected due to the implementation of Shariah Governance regulations.For example in the UAE, in order to ensure the independence...

𝗣𝗿𝗼𝗳𝗶𝘁 & 𝗟𝗼𝘀𝘀 𝗦𝗵𝗮𝗿𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗜𝘀𝗹𝗮𝗺𝗶𝗰 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆!

Many stakeholders would prefer to see Islamic banks offering more profit & loss sharing products & services. However, this is very difficult due to the way banks are regulated and what they...

𝗨𝗻𝗶𝗹𝗮𝘁𝗲𝗿𝗮𝗹 𝗣𝗿𝗼𝗺𝗶𝘀𝗲/𝗨𝗻𝗱𝗲𝗿𝘁𝗮𝗸𝗶𝗻𝗴 𝘁𝗼 𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗲

If you apply for finance at an Islamic Financial Institution (IFI), you will usually be asked to sign a unilateral promise/undertaking to purchase the particular asset from the IFI once they have...

𝗧𝗵𝗲 𝗕𝗲𝘀𝘁 𝗪𝗮𝘆 𝘁𝗼 𝗢𝗯𝘁𝗮𝗶𝗻 𝗖𝗮𝘀𝗵!

A fact of life is that sometimes people need cash for certain expenses and in this day and age it is not always easy to get an interest-free loan from relatives or friends especially if the amount...

Shariah Governance Benefits

Due to Shariah Governance regulations and the subsequent restrictions on the number of Shariah Committee memberships, many of the Senior Shariah Scholars of the Islamic finance industry have had to...

Shariah Committee Renumeration

Shariah Committee members are renumerated for the time and expertise that they give to the financial institutions that they are a part of. Such renumeration should not be linked to the approval of...

Shariah Governance & Shariah Committee Memberships

While previously the regulators took a more loose approach to Shariah Governance in some of the Gulf countries, in recent years there has been implementation of comprehensive Shariah Governance...