islamic

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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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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Is it permissible to use master agreements?

Question: Is it permissible to use master agreements? In the Name of Allah, the Most Gracious, the Most Merciful. As-salamu ‘alaykum wa-rahmatullahi wa-barakatuh. The Answer: Using master agreements as a reference for any future transaction is permissible on condition that the offer (‘ījāb) and acceptance (Qabūl) are exchanged at a future date when the parties […]
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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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Simplified Shariah Guide on Timeshares

This simplified guide looks at timesharing and the Shariah considerations of the different forms of timesharing. What is time-sharing? Timeshare allows a person to buy the use of a holiday home for the same week or weeks every year. This concept is a fraction of the price of owning it all year-round. It also takes away […]
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Islamic Finance in One Principle

The Islamic Finance industry is a thriving US $3 trillion industry. It spans across several sectors such as banking, capital markets, insurance and investment funds. These sectors are regulated by several Shariah principles and Shariah standards. Generally, several principles are cited as the core framework which highlight key Shariah principles for Economics and Finance. However, […]
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