Debt is a reality for many in today’s world, but for Muslims, managing debt presents a unique challenge. Islam prohibits riba (interest), making conventional loans and credit cards off-limits. However, there are ways to navigate borrowing and lending in line with Islamic principles. This article will guide you through...
Islamic banking is an essential alternative for Muslims seeking financial solutions that comply with their religious beliefs. Unlike conventional banking, which relies on interest (riba), Islamic banking operates under principles derived from Shariah law, ensuring that financial transactions are transparent, ethical, and free from exploitation. This article breaks down...
Islamic banking, also known as Islamic finance or Sharia-compliant finance, is a banking system based on the principles of Islamic law (Sharia). This system has gained significant traction globally, with the Islamic finance industry’s assets expected to reach $3.69 trillion by 2024 [1]. This article explores the fundamental principles...