Islamic investment

Siddiqi, Moin A
May 2004
Middle East;May2004, Issue 345, p37
The Islamic banking system is firmly embodied on the principles of ethical and equitable mode of finance. It is governed by the Shari'ah, Islamic Canon Law, Islam — the faith of 1.5bn plus people worldwide — encourages wealth creation but forbids riba or interest and gharar or speculation. The doctrine, too, opposes "super-normal profits" underpinned by an unjust competitive edge. This relatively young industry rose steeply in the wave of petrodollars on global markets during the mid-1970s and early 1980s.


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