Category: Islamic Finance

Economic System in Islam

By Dr. Jamal Badawi Host: We have never heard of an economic system for Christianity or Buddhism; how does this topic relate to religion? Jamal Badawi: To start with from a broad perspective what is religion?  It is a set of beliefs which organize or regulate the relationship between the individual and his Creator, God,

Toward an Ethical Economic System: Alleviating Suffering Caused by Greed

By Samya Ali The Prophet (p) was asked which was the best form of income. He replied: “That for which a man works with his hands. And honest trading.” The Prophet himself was a trader and was well-known for his integrity. In fact, he was popularly known as “al-amin,” which means “the trustworthy.” At a

Islamic Banks: Sailing Smoothly in Troubled Waters

Islamic Banks: Sailing Smoothly in Troubled Waters

Aftab Ahmad At a time when economic observers are worried about the threat of a new global financial crisis and global credit rating agencies have brought down credit ratings of giant financial institutions such as the Bank of America, J.P. Morgan Chase and Morgan Stanley etc, it may be amazing to see that Islamic banks,

Islamic Finance

Islamic finance is flourishing even in a time of economic turmoil in the world. And, more and more people are taking notice. Recently, many articles have been written by mainstream publications highlighting the success of Islamic banking and the need for the world to learn from this financial model. For Muslims across the globe, Islamic