Islamic Economic System: The building blocks.

The Worldview. Every being, society or system is dominated by its own worldview which is based on a set of implicit or explicit assumptions about the origin of the universe and the nature of human life. Hence, the worldview is “the nature of man’s reflections on almost any subject”.  A world view is a mental… Read More »

An analysis on Airtime loan: Permissibility and available options.

Overview: There is no gainsaying that Islam is a perfect way of life – this has been established by various verses of the Quran, sayings of the Prophet Muhammed (SAW), the leaders of thoughts in Islam, and the contemporary world because the teachings of Islam covers every facet of our lives – politics, economics and… Read More »

Concept of Fatwa in Islamic Finance.

Definition of Fatwa. The word fatwa is derived from afta or ifta. This word has two major meaning which are: The first meaning: Seriousness: which means to be serious, quiet and from this meaning derived the name of al-fata who has who has these descriptions and features. The second meaning: explanation or clarification and showing,… Read More »

Why Islamic Finance

The human being at every point in time have reasons for their actions, that is, what we do is triggered by some certain actions or a reaction to some certain stimulus within our environment. Our existence in this world is also for a reason, though there might be difference of opinions as to why we… Read More »