| AIMS UK, Time Value of Money and Islamic Finance | AIMS UK, Maysir (Gambling) and Games of Chances in Islam | AIMS UK, Islamic Fiscal Policy | Fiscal Policy in Islamic Economics | AIMS UK, Is Bitcoin Halal or Haram? One of the three major components of Islamic fi nance, the takaful aspect has experienced slow growth in … The Islamic finance sector is booming. Thomas’ story focuses on Dar al-Maal al-Islami (DMI) Trust, a Bahamas-incorporated holding company with a portfolio of Islamic … Islamic finance shares the aims and foundations of “conventional finance” with, in addition, the concern to respect Sharia, that is to say, all the precepts of the Muslim religion. Click here for Part 1 of this series | Click here for Part 2 of this series Paper money was introduced almost four Centuries after the birth of the first Islamic state in Madinah. Photo: anekoho / Shutterstock.com Islamic finance assets represent only around 1% of the global financial market, [1] so how can tapping into these funds help close the $452 billion annual infrastructure finance gap in Emerging Markets and Developing Economies? One of these, Islamic finance, is gathering more and more interest from Muslims and non-Muslims lately. We discussed the entire range of adoptions and adaptations of classical contracts adding up to constitute the Islamic financial system. Now let us understand, what is gharar? Part I | Part II | Part III Now-a-days I receive at least one headline pertaining to the crypto world among many others, as I click on Google,…, Continue reading Islamic DeFi: Back to Basics – IV, In the current whirlpool of speculation at Digital Asset Exchanges, speculative cryptos will drive out non-speculative ones from circulation. A new breed of scholars, known as Islamic economists, dominated all…, Continue reading Islamic DeFi: Back to Basics – I, From our archives: IBF Review – Vol 1, No.16-17 September 2004 Pyramid or endless-chain distributor schemes ask people to make an investment and, in return, grant them a license to recruit others who, in turn, recruit still others into the scheme. We may therefore, discuss them together. Enter your email address to follow this blog and receive notifications of new posts by email. Islamic banking provides fixed deposits also, Unlike conventional banking, the depositor will not get a standard profit on the investment made, the profit rates depends on the profits earned by the bank. For Investment questions, guidance or tips please post … Bitcoin Fatwa in Islam | AIMS UK, What is Islamic Mortgage & How is it Different from Conventional | AIMS UK, Understanding Blockchain in Islamic Finance and Banking | AIMS UK, Shariah Compliant Loans – Introduction, Types & How Do They Work? In the first and second blogs dedicated to the subject of Islamic Decentralized Finance (DeFi) we attempted to trace the trajectory of what we know as mainstream Islamic finance. Majority of Muslims prefer this form of banking because it complies with the fundamental principles of Islamic [...], Introduction to Islamic Capital Market At its heart, the Islamic Capital Market is one where transactions for Shariah-compliant financial assets are handled. – II, Multi-Level Marketing (MLM): Is it an Ethical Game? The Islamic approach to finance was once the most advanced in the world. There are various Islamic financial institutes which are planning to use the blockchain system [...], What are Shariah Compliant Loans? [2] The percentage may be small now, but the Islamic finance … Emergency support in the short term. The Islamic Finance Blog "Only after the last tree has been cut down, only after the last river has been poisoned, only after the last fish has been caught, only then will man find that money … About Islamic Finance Guru. Islamic Finance Blog. | AIMS UK, 7 Basic Islamic Capital Market Instruments & Products | AIMS UK, Islamic Trade Finance and its Products | AIMS UK, Reverse Logistics – System, Process & Management | AIMS (UK), Understanding 3PL and 4PL Logistics | AIMS (UK), Scrum Project Management & Sprint Project Management | AIMS UK. This system functions in correspondence to the conventional market while encouraging and [...], What is Islamic Trade Finance? – I, Introducing Project Deliverance, I try to demonstrate here how public and private data sources that are commonly available can be used to create artificial intelligence for classification of awqaf assets in terms of their potential for development and address the twin challenges of preservation and development. The period of pre-eminence ended six or seven centuries ago, but the religion’s fundamental insights into the field could help form a financial system suitable for the 21st century. This was a component of our overall research agenda to examine the (mis)alignment between SDGs and Maqasid-Al-Shariah (MaS) and the role of Islamic social finance sector in general and awqaf sector…, Continue reading Contemporary Awqaf and SDGs – I, Get ready to participate in the Halal Ecosystem. Blog. It is an imperative in Islamic finance. I presume…, Continue reading Islamic DeFi: Back to Basics – III, DeFi, we should. Islamic Finance and Money Laundering. ISLAMIC BANKING & FINANCE BLOG ( By: AlHuda Centre of Islamic Banking and Economics ) 5 Interactive Distance Learning Programs on Islamic Banking and Finance. Accreditation is one more step in our journey to meet and exceed the expectations of our students… Read More, Our propriety learning management system is flexible and feature rich platform for your… Read More, Our graduates sharing their Study experience Our graduates sharing their Study experience… Read More, Listed below are some of our client companies, and organizations of individual participants… Read More, What is Gharar in Islamic Banking? Primer on Islamic Banking: An introduction to Islamic Banking and Finance, and the main contracts that are used, along with clear examples of how these contracts are used in market practice. Projects have specifically focused on skill enhancement & assistance (SDG8.5 and SDG5), such as tailoring and dress making (YMA, Kenya and JCorp. In the face of significant financing needs for the SDGs, Islamic finance … Islamic finance refers to financial services that conform with Islamic jurisprudence, or Shari’ah, which bans interest, … Money laundering … That is why even Non-Muslims are interested in [...], Understanding Blockchain in Islamic Finance & Banking The blockchain technology is rapidly gaining the attention of Organizations of Islamic Cooperation. Islamic banking is a system of banking that follows Islamic principles and guidelines. Dispute Resolution in Islamic Finance: Alternatives to Litigation's journal/conference profile on Publons, with several reviews by several reviewers - working with reviewers, publishers, institutions, and funding … The maiden experiments in Islamic banking and finance perhaps started with the birth of institutions like the Dubai Islamic Bank and the Islamic Development Bank in the mid-1970s. The term “deliverance” implies the act of rescue or…, Continue reading Identifying Waqf Assets with Development Potential Using AI, Waqf projects relating to economic empowerment of women (SDG5) have largely focused on decent work (SDG8). The Kingdom of Saudi Arabia, being the largest Islamic finance market globally in economies with dual financial systems (comprising both conventional and Islamic financial sectors) is poised to become a global leader in the Islamic … From a market of just $200bn in 2003, the sector is expected to grow to over $4trn in assets by 2030. Islamic microfinance was also practiced by Islamic non-profit…, Continue reading Islamic DeFi: Back to Basics – II, The trajectory of the mainstream Islamic financial services sector, as we understand, has never been smooth. Islamic banking or Islamic finance (Arabic: مصرفية إسلامية ‎) or sharia-compliant finance is banking or financing activity that complies with sharia (Islamic law) and its practical application through the development of Islamic economics.Some of the modes of Islamic banking/finance … There were also the indigenously born Baitul Maals and Qard Funds. Islamic finance offers several features that are consistent with these objectives. Let us play the game differently. – I, Identifying Waqf Assets with Development Potential Using AI, Bringing Back Smiles to Victims of Typhoon Wutip in Vietnam, Energized by the tunes of Desert Blues, shoring up support in Mali, Saving Lives in Timbuktu, Mali through Cash Transfers, Transforming Lives in the aftermath of Typhoon Haiyan, Bringing Back Smiles in Cyclone-Hit Odisha, The Shaking Himalayas, but Life Continues  amidst “Uncertainty”……. That mistrust of Islamic banks is the focus of a New York Times article by Landon Thomas, Jr. [“Islamic Finance and its Critics,” 9 August 2007]. Gharar [...], Concept of Time Value of Money in Islamic Finance and Banking:There is no concept of time value of money in Islamic finance, and Islam does not recognized the value of money in any type of [...], Maysir and Games of Chances Maysir is an Arabic terminology and it means gambling, and it literally means ‘getting something too easily’, or ‘getting a profit without working for it’. As summarised by S&P recently, there was a significant slowdown of core Islamic finance economies in … We do this for one reason: to make our … Some of these services may include basic personal loans, business … Blogs. Let us keep the game simple and comprehensible. Islamic Finance Blogs Tuesday, July 28, 2015. These include Zakat (almsgiving), Waqf (endowments), Sadaqa (charity) as well as Qard Hasan (interest-free loans). So the profit rates are not constant, it keeps fluctuating. There are [...], What is Islamic Mortgage? In essence, the investor pays for the opportunity to receive compensation when his or…, Continue reading Multi-Level Marketing (MLM): Is it an Ethical Game? Islamic finance blog and Islamic finance articles from scholars and practitioners in the field of Islamic banking, Islamic finance and Takaful. It reports that according to ratings agency Moody’s, the global Islamic finance … There are many people who think that halal mortgage is better as compared to conventional mortgage because there is no interest rate. This is manifested through the prohibition of three fundamental prohibitions: usury, uncertainty and specul… (Click here for Part 1 of this series) The positive contribution of Islamic microfinance to Islamic finance in general was the dichotomy it presented. Islamic finance represents a financial system that operates based on the principles of Islamic law, (or in Arabic, Shariah), derived from the Islamic Holy Text (Qur’an) and prophetic traditions (Sunnah). This meant their systems differed from western economies- making it difficult for them to collaborate. The idea behind Islamic banking and finance was to give an alternative in banking and finance that was fairer, more equitable, and more favourable for all stakeholders. 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