Oct 5, 2020 | Blog, Islamic Finance
Due to COVID-19, most meetings of IFIs are now being held virtually including Shariah Board meetings. After discussing the topic with my peers working in Shariah departments of various IFIs, in this short post, I will list some of the possible pros and cons of...
Aug 18, 2020 | Blog, Islamic Finance
I decided to write this post in order to give a brief overview of the Islamic finance industry in KSA to English speakers who might be unaware of how active the industry actually is as KSA is one, if not the largest Islamic finance market in the world. Retail KSA...
Apr 7, 2020 | Blog, Islamic Finance
One of my passions is teaching and I thoroughly enjoy conducting training and sharing my knowledge of Islamic finance during my free time as I strongly feel that it is an area which is often for some reason or another, neglected within Muslim communities. In this...
Aug 2, 2019 | Blog, Islamic Finance
The nature of the contractual relationship between a customer and the financial institution is another prominent difference between Islamic financial institutions and conventional financial institutions. The contractual relationship between a customer and a...
Jul 26, 2019 | Blog, Islamic Finance
Financial institutions play a key role in acting as intermediaries in an economy which basically means that they take money from entities with surplus funds (through deposits) and then place the funds with entities with a deficit in funds (through loans/finance)....
Jul 19, 2019 | Blog, Islamic Finance
A common concern amongst customers of Islamic financial institutions is in with regards to the pricing or benchmarking of Shariah compliant products to the prevailing interest rate. For example, if the prevailing interest rate in the country is 2% and because of this...