Islamic finance offers an alternative approach to banking and investing from "summary" of How Finance Works by Mihir Desai
Islamic finance offers a unique perspective on banking and investing, rooted in the principles of Islamic law, or Sharia. This alternative approach places an emphasis on ethical and socially responsible investing, as well as risk-sharing between investors and borrowers. Unlike traditional banking systems that rely on interest-based transactions, Islamic finance prohibits the charging or receiving of interest, known as riba.
One of the key principles of Islamic finance is the concept of profit-sharing, which is based on the idea that both parties should share in the risks and rewards of an investment. This principle is reflected in the practice of Mudarabah, where one party provides the capital while the other provides the expertise to manage the investment. Profits ar...
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