Dec 20, 2024 | Blog, Islamic Finance
When people hear the term โIslamic bankโ or โIslamic financial institutionโ, a lot of them tend to make a major assumption that the organisation in question should be a charitable, not for profit entity or that its charges should be very minimal and token in nature....
Dec 10, 2024 | Blog, Islamic Economics
After covid people tend not to carry cash in their wallets as much as they used to previously and tend to depend primarily on electronic forms of payment. While there are many benefits of not needing to have cash on you, one of the negatives is that at times you can...
Dec 10, 2024 | Blog, Islamic (Halal/Shariah Compliant) Investments, Islamic Finance
If any Islamic Financial Institution (IFI) has a Shariah Pronouncement from a Shariah Advisor or a Shariah Committee it means that the individuals who have signed the pronouncement are of the opinion that the product, service or transaction is in compliance with the...
Dec 10, 2024 | Blog, Islamic Finance
Many of us take the prohibition of Riba lightly when in reality it is a major sin that we should not be involved in.Sheikh Ibn Uthaymeen ุฑุญู
ู ุงููู states in his Sharh al-Mumti alaa Zaad al-Mustaqni (own translation):Riba is forbidden by the Quran, the Sunnah, the...
Dec 10, 2024 | Blog, Islamic Finance General
During our lives we spend so much time and effort trying to accumulate wealth but we can’t take all that we have amassed with us to our graves once we pass away. Any wealth we leave behind will be utilised in the following way:1) Pay for any costs related to our...
