Islamic finance would need a new storyline, would need a new narration to make it more trendy and fashionable and to suit the modern expectations of this new banking. From time to time, people has changed, people has evolved, if you like, in terms of the expectation, in terms of their understanding, of anything in …
Dr. Mohd Daud Bakar on the storyline of Islamic Finance Read More »
Islamic Finance has been in this world, in the modern history of financial systems in the last forty years; almost four decades. And everyone and every stakeholder has been hoping to see Islamic banking finance to be operational on the centerstage of the world financial system. I don’t think we have achieved that level, as …
Dr. Mohd Daud Bakar on ‘Mainstreaming Islamic Finance’ Read More »
So if we speak about the Islamic Finance in Kazakhstan and the CIS region we can say that there is a very big demand for the Islamic financial products within the nations in this region. And particularly, the Kazakhstan is leading in terms of the legislation. It has developed the full legislation allowing for the …
Many are wondering, “Why do we need a Shariah discipline and Shariah scholars to be involved in the whole Islamic banking perspective?”. This is a very valid question, to be honest. Shariah is needed to guide the activities of a banking system, from taking deposit as well as from providing the financing and the treasury …
Dr. Mohd Daud Bakar on the need for Shariah scholars to be involved in Islamic banking. Read More »
Islamic Microfinance is a type of banking services that focus to a target group of low income individuals or groups who does not have other access to financial services. The goal of Islamic Microfinance is to give the low-income people an opportunity to become self-sufficient by providing a way to save money and getting financial …
The word Takaful is derived from the Arabic verb ‘kafalah’ which means to take care of one’s need. It can be defined as the pact between two parties or more who agree to joint guarantee one another in the event of loss or damage that might be inflicted upon anyone of them. The differences between …
One solution which fits all is not part of the Shariah – in the last 15 centuries, in the history of Islamic law and the Shariah world, we have seen that the scholars in the past, as well in modern time, they have been creative enough to provide more than one solution to a particular …
Dr. Mohd Daud Bakar on the topic of ‘One Shariah solution fits all’ Read More »
Socially responsible investment sukuk, or SRI sukuk, are a new and upcoming type of investment in Islamic finance. Many proponents of Islamic finance have over the years tried to draw parallels between the principles of Islamic finance and ethical finance. So for example, both of them they have restrictions in terms of what they can …
Can you see any similarities between human body system and Shariah? Well, Shariah is an apparatus which integrates all domains of human life, which is comprises the relationship of human being with regards to the vertical and horizontal relationship, just like the different system in the human body integrate to provide a complete human being. …
Shariah standard on gold How do you sell gold for cash in a Shariah compliant manner? This is the main point setup in the AAOIFI Shariah Standard on gold which was recently issued and the one that has the widest impact and garnered a lot of attention. The AAOIFI Shariah Standard stipulates that the exchange …
Maya Marissa Malek on “Shariah Standard on Gold” Read More »