From: Islamic-Banking The Islamic Financial System While elimination of Riba or interest in all its forms is an important feature of the Islamic financial system, Islamic banking is much more. At the heart of Islam is a sense of cooperation, to help one another according to principles of goodness and piety (but not to cooperate in evil or malice). In essence, it aims to eliminate exploitation and to establish a just society by the application of the Shariah or Islamic rulings to the operations of banks and other financial institutions. To ensure compliance to the Shariah, Islamic banks use the services of religious boards comprised of Shariah scholars.
Posted on: Mon, 08 Dec 2014 04:23:19 +0000
Trending Topics
Recently Viewed Topics
© 2015