Category: Finance

zakat

Zakat Fact and Myths

Zakat is the third the pillar of Islam. It literally means to increase. Technically Zakat is intended to purify one’s possession of wealth by distributing a prescribed amount which has to be given to the poor as a fundamental act

Islamic Finance

Islamic Finance is based on the Profit & Loss sharing principle . In other words the parties  collaborate on a venture and share realized profits or split suffered losses. #1.- In Islamic finance, one must work for profits, and simply

Abu Dhabi

As per data gathered from the Central Bank of UAE, Sharia complaint banks have decreased in growth yet they are still expanding faster than conventional banks. As of July 2016 the Islamic financial institutions growth rate was at an impressive

Islamic business

Islam is not all about spirituality. It deals with every aspect of human life. Striving for sustenance is required. It is human nature to earn livelihood for oneself as well as for one’s dependents. An individual can’t get anything unless

Sukuk

An Islamic bond, known as Sukuk has always been common in Muslim countries alone. However, Britain has become the first country outside the Muslim world to issue an Islamic bond. According to the UK’s Foreign Minister for the Middle East, London

Canada_Takaful

A check of $45,000 was paid to Takaful Insurance Program in December, 2012. Takaful Canada which is a joint venture between three Canadian cooperatives, received the check from the co-operators as a participation reward. Their plan was to share the

Bank of Whitter

Since the dawn of this millennium, the Islamic banking sector in the United States has been witnessing steady growth. The last sixteen years has witnessed rapid growth in the numbers of neighborhood banks in the US Midwest, brokerage firms and

Islamic finance

There are a lot of misconceptions about Islamic finance due to various factors. It might be that many people who are so engrossed in conventional finance are sort of scared to venture into a relatively unknown financial system or it