Islamic Finance

Islamic Finance

By Y-Sing Liau | Updated Jan 6, 2017 The Koran forbids charging interest or paying it. Yet even strictly observant Muslims can participate in modern-day commerce. They use alternative arrangements designed to comply with sharia, or Islamic law. These financial instruments, in which the buyer and the seller typically share […]

Zakat

In the Name of Allah, Most Gracious, Ever-Merciful   Zakat (Obligatory Alms with prescribed rate) Charity towards man, in the widest sense of the word, is the cornerstone of the Islamic society and a constant theme in the Quranic teachings. There are two kinds of charities in Islam: the obligatory […]