Abstract
Islamic finance refers to a financial system that operates according to the principles of Islamic law, known as Shariah. It is a rapidly growing sector of the global financial industry that offers an alternative approach to conventional finance. Islamic finance is based on ethical principles and promotes fairness, justice and social responsibility.
One of the fundamental principles of Islamic finance is the prohibition of interest, or riba, which is seen as exploitative and unfair. On the other hand, Islamic finance encourages risksharing and profit-sharing arrangements. It emphasizes the concept of equity and encourages ethical investment in real assets, businesses and projects that contribute positively to society.
Islamic finance also prohibits investment in activities that are considered haram (forbidden) according to Sharia, such as alcohol, gambling, pigs, and certain forms of entertainment and speculation. This encourages investment in sectors that are socially responsible and beneficial to society, such as healthcare, education, renewable energy and infrastructure development.
Metadata
Item Type: | Student Project |
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Creators: | Creators Email / ID Num. Hanan, Mohammed Haikal 2021868722 Dzalihuzzabir, Muhammad Fakhrul Hadi 2021869162 Che Mustafa, Muhamad Faisal 2021885986 Ahmad Zaki, Saifullah 2021809852 |
Contributors: | Contribution Name Email / ID Num. Advisor Mustapha, Ahmad Murshidi UNSPECIFIED |
Subjects: | B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Islamic ethics B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Islam and economics B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Study and teaching. Research |
Divisions: | Universiti Teknologi MARA, Kelantan > Machang Campus > Academy of Contemporary Islamic Studies (ACIS) |
Programme: | IMU 601: Fiqh Muqaran |
Keywords: | Islamic finance, Sharia, financial system, Islamic law, interest, riba, society |
Date: | 2023 |
URI: | https://ir.uitm.edu.my/id/eprint/114352 |
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