TITLE

Islamic investment

AUTHOR(S)
Siddiqi, Moin A
PUB. DATE
May 2004
SOURCE
Middle East;May2004, Issue 345, p37
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
13083247

 

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