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Islamic microfinance: How is it different?

Posted on 09 May 2012

Islamic banking was created as a separate path of financing in order to comply with prohibitions stipulated by Islamic law. Also referred to as Sharia law, Islamic law can be considered God’s law as interpreted by Muslims.
Islamic scholars called Muftis in the Sunni tradition and Mullahs in the Shia tradition are charged with interpreting this law. The central texts of Sharia law are the holy book of the Qur’an, and the examples set forth by Muhammad and his early followers are documented in a collection of texts called the Hadith………………………………………..Full Article: Source

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