Is the principle of banking in Islam possible?

The following is my answer to a Quora question: “Is the principle of banking in Islam possible?” Islamic banking has two primary principles: the equitable sharing of profit and loss in any venture, and the prohibition of riba’, usury. In principle, these are equitable considerations, and praiseworthy. The contentions of Islamic banking is not theContinue reading “Is the principle of banking in Islam possible?”

“Is Islamic banking viable?”

The following is my answer to a Quora question: “Is Islamic banking viable?” If by viable, you mean to ask if there is there a market for it, then it is because enough people believe in it for it to exist. It is a growing field, and it is evolving. If by viable, you meanContinue reading ““Is Islamic banking viable?””

Of Shariah-compliant investments

[This post was originally shared on my FB profile on 27 December 2019.] When asked about shariah-compliant investments, I personally would steer towards realm of permissibility as it would widen a client’s option. I personally do not view investments for Muslims to be too rigid as how some would portray it under the claim ofContinue reading “Of Shariah-compliant investments”

Why do I feel like I am gambling with my life when I buy insurance?

The following is my answer to a Quora question: “Why do I feel like I am gambling with my life when I buy insurance?” On the contrary, I contend that you are gambling if you do not buy life insurance. Without liability protection, do you have sufficient funds set aside in the event of disabilityContinue reading “Why do I feel like I am gambling with my life when I buy insurance?”

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