The main source of this post and the posts that will come in other parts is a book titled " An introduction to Islamic Finance" by Muhammad Taqi Usmani.
BELIEF IN DIVINE GUIDANCE.
Before understanding Islamic finance it is important to understand as to why Muslims should have Islamic finance whether it is profitable or not.
The basic belief around which all the Islamic concepts revolve is that the whole universe is created and controlled by One, the only One God. Islam in some areas have subjected human activities to a set of principles which have eternal application and can not be violated in superficial grounds of expediency based on human assessment. Unlike other religions, Islam is not confined to some moral teachings, some rituals or some modes of worship. Islam, contains guidance in every sphere of life including socio-economic fields.
The Obedience from servants of Allah is required not only in worship, but also in their ECONOMIC activities, even though it is at the price of some apparent benefits, because these apparent benefits may go against the collective interest of the society.
by: Ramsha Amir
BELIEF IN DIVINE GUIDANCE.
Before understanding Islamic finance it is important to understand as to why Muslims should have Islamic finance whether it is profitable or not.
The basic belief around which all the Islamic concepts revolve is that the whole universe is created and controlled by One, the only One God. Islam in some areas have subjected human activities to a set of principles which have eternal application and can not be violated in superficial grounds of expediency based on human assessment. Unlike other religions, Islam is not confined to some moral teachings, some rituals or some modes of worship. Islam, contains guidance in every sphere of life including socio-economic fields.
The Obedience from servants of Allah is required not only in worship, but also in their ECONOMIC activities, even though it is at the price of some apparent benefits, because these apparent benefits may go against the collective interest of the society.
by: Ramsha Amir
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