What is Sharia in the Financial Context? Sharia is the Islamic legal framework, drawn from the Quran, the Prophet Muhammad’s hadiths, and scholarly interpretations, guiding all life aspects, including banking. In the Islamic banking sector, Sharia establishes ethical and religious standards, setting it apart from conventional systems. Its core aim is to promote fairness, transparency, […]
Islamic finance and banking have gained increasing recognition in the global financial landscape. While many assume that avoiding interest (riba) is the sole characteristic of such a system, the reality is much broader. Islamic finance draws upon Shariah principles that advocate fairness, transparency, and real economic activity. Rather than merely replacing traditional interest-based transactions, it […]