Thu, Oct 2, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Finance, Islamic Law / Economics more

Aspects of the Islamic faith: Personal attitude to debt

Posted on 09 September 2011

Debt is a normal practice in human life. People often have need for money that they do not have. If they expect to have money at a later time and their need is immediate, they try to borrow from a friend or a financial institution.
In modern business, borrowing is a normal practice. Many a business will not flourish unless there are arrangements for borrowing and lending. Islam recognizes this need and establishes some detailed rules concerning debt and its repayment. The Prophet (peace be upon him) also lays down certain principles that people need to observe when they borrow and lend. ………………………………………Full Article: Source

 
Article link

This post was written by:

Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
October 2014
M T W T F S S
« May    
 12345
6789101112
13141516171819
20212223242526
2728293031