The authority of the Qur’an and its applications in financial transactions

Mohd Saidin Hadri, Maryam Hanani and Badrul Hisam, Kasih Khadeeja and Azmi, Nur Aleeya Balqis and Samsudin, Nur Alya Aqila and Muhammad Nawi, Nur Sabrina (2024) The authority of the Qur’an and its applications in financial transactions. [Student Project] (Unpublished)
Abstract

The Qur’an is the last revelation sent down to the Prophet Muhammad, may God bless him and grant him peace, to serve as a guide for human life.
The authenticity and purity of the Qur'an has been preserved from the time of its revelation until today, making it the only holy book that has not been subjected to any alteration or distortion. In the context of Islamic finance, the principles contained in the Qur'an play an important role in shaping a fair, transparent, and ethical financial system. By following the teachings of the Qur'an, concepts such as usury, gharar, and gambling can be avoided, while promoting practices such as justice, trust, and virtue, understanding the authenticity of the Quran and applying its principles to Islamic finance is essential for developing a financial system that not only meets economic needs but is also based on high spiritual and ethical values.

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