This article is written by brother Adnan Khan Open up the pages of any newspaper or Financial Magazine and you are guaranteed to find advertisements from banks announcing their latest Islamic finance products. Once perceived as a niche market, Islamic finance today is big business with both local and international banks keen to get in on the act. An increasing number of non-Muslims are adopting Islamic compliant products as awareness of the principles behind Shari'ah finance has grown. In 2008, … [Read more...]
Al Jazeera on Islamic Finance & the West
April 28, 2009 By
20 years ago the West would have thought poorly of Islamic Finance and today they realise its value. On the same breath, today the west sees Shariah law as barbaric and backward - I wonder what they'll think of it 20 years from now? … [Read more...]
Open Letter to the Muslim Rulers Attending G20 Summit
April 2, 2009 By
An Open Letter To the King of Saudi Arabia, The Prime Minister of Turkey and the President of Indonesia on their attendance at the G20 Leaders Summit in London on 2 April 2009 Since 1999, the G20 has been at the forefront of designing the financial architecture that has now crumbled before our very eyes. It has been complicit in the financial and economic policies that has fostered the worst international economic crisis since the great depression. It not only averted its gaze while financiers ran … [Read more...]
Dubai- The Economic Mirage
March 4, 2009 By
This piece comes from Islamic Revival.Dubai- The Economic Mirage from Islamic Revival by Islamic Revival Dubai once symbolized the economic boom of the 21st Century. It was viewed favourably by major Western companies that established offices in the country attracting a large number of foreign workers from Europe, Asia, and elsewhere. With an economy to the tune of $46 billion, the Gulf emirate attracted world-wide attention with its rising property sector. Today, however, is a different story. The … [Read more...]
Fundamentals of Islamic Finance (Part1)
January 30, 2009 By
Fundamentals of Islamic Finance Islamic Finance provides for the making of profits in an inclusionary and socially equitable manner The prohibition of debt and fractional reserve banking serves as a buffer against rampant inflation The goals of Islamic Finance are in many respects similar to the goals of conventional finance The manner in which these goals are achieved is vastly different The purpose of this article is to explain the fundamental principles and underlying philosophy of Islamic Finance, … [Read more...]
The End of Prosperity: Can Islamic Finance Help?
January 23, 2009 By
By Mahomed Shoaib Omar (Specialist Corporate & Islamic Finance Attorney) from Albalagh.netThe meltdown of the global financial system has raised profound questions of its fundamental structural reform. The downward spiral in the US and Western Europe is described by financial experts as deleveraging : the forced reduction of accumulated debt by households and financial institutions. As more assets get dumped into the market, prices are driven down further, which in turn necessitates more deleveraging. … [Read more...]
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