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Islamic Finance Briefing - Categorized | Banking, Research more

Islamic banking special: Money not seen as a commodity

Posted on 06 June 2011

Islamic finance refers to a system of banking and other financial activities that are in conformity with the principles of Sharia. In the context of financial activities, Sharia prohibits dealing in interest, speculative transactions, excessive risk taking, and gambling. Money is seen only as a medium of exchange, and not as a commodity that generates incremental returns.
Islamic financial institutions can profit by risk sharing or by participating in the creation of a productive asset……………………………………….Full Article: Source

 
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