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 (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...
Nov 15, 2024 | Blog, Islamic Finance
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 the prevailing interest rate is 2% and because of this a conventional...
Nov 6, 2024 | Blog, Islamic Finance
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 implications involved of having more than one Shariah Advisor. However,...
Nov 6, 2024 | Blog, Islamic Finance
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 of Shariah Committee members of Islamic Financial Institutions (IFIs),...
