A detailed examination of the concept of Haram, its implications in Islamic finance, and its broader societal and ethical contexts.
Islamic Banking is a system of banking that adheres to the principles of Islamic law (Sharia). It operates on the prohibition of usury and incorporates profit-sharing arrangements to ensure ethical financial transactions.
Mudarabah is a distinctive financial arrangement in Islamic finance where one party provides capital, and the other offers expertise, with profits shared based on pre-agreed ratios, and losses borne solely by the capital provider.
Shirkah, a term used in Islamic finance, refers to a partnership where two or more parties collaborate by pooling their resources and share profits and losses according to their agreement.
A comprehensive exploration of Islamic banking, uncovering its definition, historical evolution, fundamental principles, practical examples, and its position in global finance.
