Financial inclusion of the poor requires a different approach in product design, pricing and delivery. This requires innovation, flexibility, efficiency and committed leadership. Fintech can be a key catalyst in increasing the penetration and outreach of Islamic banking in Muslim majority countries.
Stephen Hawking has recently died after living a difficult life physically, but one which was highly productive in terms of intellectual journey and contributions. While acknowledging the tremendous value of the contribution of Stephen Hawking in Cosmological Physics, an attempt is made to clarify the limitations of science in exploring the meaning of life.
Sukuk issuance needs to be used in providing finance for diverse needs. Corporate issuances follow the trends in business cycles. Sovereign Sukuk for development finance can provide impetus to the Sukuk issuance in cyclical downturns. In addition to that, it can also provide long-term macroeconomic support to the governments and enterprises by building the infrastructure for tomorrow.
A great number of empirical studies now challenge the position of conceptualising human behaviour only in the framework of a rational, utility-maximizing homo-economicus. Yet, this framework is used for the purpose of simplicity and tractability in situations where abstraction does not result in major loss of focus and information at hand.
Salman Ahmed Shaikh Some of the non-Muslim contemporaries of Prophet Muhammad (PBUH) used to tease Him (PBUH) during His life. Qur’an mentions that people who did not believe in Prophet Muhammad (PBUH) […]
In early 2015, Muslims took to twitter to introduce our beloved Prophet Muhammad (PBUH) to the world. Below are some of the tweets.
Animals wake up, find food, eat, sleep and wake up again. As per Atheism, humans are also supposed to have only that same purpose. If I believe in this life only, then as long as I can avoid conflict with material law, control legislation by funding political cronies and muster military and diplomatic strength, I can commit genocide, kill, steal, rob for 50 years of my life and the victims and society cannot do anything unless they gain same power and make me powerless and define a different standard of justice and ethics.
From a community of 1.6 billion people spreading in 7 continents of the world, individual instances from a small minority of deviants are picked in an effort to embarrass and tease peaceful mainstream Muslims. Close to 100 million Muslims live in developed regions alone. There has to be acknowledgement and understanding of this fact that Islam and Muslims are two different things. There can be difference of opinion, but selectively picking particular types of arguments, peoples and actions and generalizing them over 1.6 billion people is unjustified.
It is to be understood that 15 centuries ago, the institution of slavery was common in Arabs and when Islam spread, Islam took measures to get rid of the institution of slavery in a gradual process. Quran is very clear on freeing slaves in the later revealed verses. In verse 12 and 13 of Chapter Balad, Allah says: “And what can make you know what is [breaking through] the difficult pass? It is the freeing of a slave.”
This article discusses the major risks that Islamic banks face in their commercial operations and the tools with which they mitigate these risks.