Instruments and Markets Islamic Finance pdf free download. What are the underlying principles of shariah law from a financial perspective? In other words, what defines the kind of model to which a financial institution that seeks to offer shariah-compliant services to its Muslim customers will have to adhere? Shariah is the body of Islamic faith and has two main sources. The first is the Qur’an, the sacred book that records the word of God as revealed to the Prophet Mohammed.
Instruments and Markets Islamic Finance pdf free download
To quote directly from the Qur’an: “God has permitted trade and for bidden interest,” Qur’an, Chapter 2, Verse 275. The fundamental underlying principle is that interest is prohibited. The second source is the Hadith, the body of documents that records the Sunnah (the practice, or “life example”) of the Prophet Mohammed. From these two sources there are five main prohibitions that must be observed in the creation of a shariah-compliant financial services model. They overlap somewhat and are mutually supportive.
Instruments and Markets Islamic Finance pdf free download
The book is being shared purely for educational purposes. We would greatly appreciate it if you purchased this book from its rightful owner, as most books are available for purchase online.. For more books please visit our site.
