The quest for equity and justice has been central to the thinking of devout Muslims for generations. Consequently, followers of the faith have been keen to ensure the ways in which businesses are financed have ethical considerations at their core. In this spirit, Muslim economists have championed the need for the finance system to be tempered with regulations that are designed to ensure that the public interest is paramount
The concept The Islamic finance industry today consists of more than 300 institutions in and outside the Muslim world. It is the product of the collective effort of bankers, economists and Islamic legal scholars to develop financial solutions that meet the religious and socioeconomic requirements of Muslims. It is a young and rapidly expanding industry catering for devout Muslims in indigenous Muslim societies as well as the Muslim minorities of non-Muslim countries. Furthermore, it is an inclusive paradigm appealing to and serving non-Muslim individuals and communities that seek ethical f...
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