Articles

Is Gold the Currency of Islam?

The Dinar is typically referred to as the ‘currency of Islam’. The idea stems from the fact that the initial currency minted by an Islamic government was that of the gold Dinar and silver Dirham. It was the Caliph Abdul Malik ibn Marwan who ordered the minting of these currencies in the year 76 AH. […]
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What can Islamic Finance learn from Hajj?

Everything in Islam is related; the different pillars all have connections. There are patterns within Islam that appear the more you observe and the more you ponder. Allah’s guidance is immaculately congruent and meticulously complete. Focused and unbiased reflections on nature and the Qur’an can only lead one to profess the artistry and beauty of […]
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Asset, Service, Right or Debt? | Fiqh Series

This article is part of our Fiqh blog series which aims to discuss more advanced subjects relating to Islamic Finance and Fiqh al-Mu’amalat. This blog piece addresses the different types of subject matters that are traded and transacted. Introduction One of the fundamental tasks in any Shariah review or Shariah product development is to understand […]
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Dropshipping: the Halal and Shariah compliant way

By Mufti Faraz Adam and Suleman Muhammad Ali, Head of Products Muzn Islamic Bank A lot has been written on dropshipping and the Shariah concerns about it. Yet, there is still confusion and a lack of clarity on dropshipping. This article seeks to propose a valid Shariah interpretation and the Halal way to perform dropshipping […]
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Defining Islamic Fintech

In this short article, we want to simply define Islamic Fintech not from a user perspective, but rather from its linguistic roots. Why is it called Islamic? and What is Fintech? Keep reading! Islamic Fintech is composed of two terms: “Islamic” and “Fintech”. We have to appreciate these two terms to get a better understanding […]
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Shariah Dynamics of SAFE Agreements

Summary: We believe that generic SAFE agreements have a level of Gharar (uncertainty) and ambiguity in terms of the treatment of the investment for Shariah compliance. A SAFE can be easily tweaked for Shariah compliance and should be tweaked to ensure Shariah compliance. The first major objection is ownership; a SAFE can potentially be developed […]
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Does Shariah Compliant Mean Ethical?

A debate regularly emerges on the issue of ethics and Shari’a compliance. Start-ups grapple with the issue and wonder whether to use both or either of them. Some argue that Shari’a compliance does not necessarily mean being ethical. This brief article shall endeavour to explain how Shari’a is inherently value-laden and that Shari’a compliance incorporates […]
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NFTs: Shariah Compliant?

What are NFTs?  One of latest hypes in the crypto-space is Non-Fungible Tokens (NFTs). NFTs are described as a special type of token that represents a unique asset. The term fungible means something that can be replaced by something similar. It is a type of token that can’t be replaced by another similar token as […]
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