Beruflich Dokumente
Kultur Dokumente
El Harrar Marwa
Elbenna Karima
Hamdoune Anas
Contents
Introduction
Definitions
Sources of IF
Islamic Finance Principles – Concept
Framework of the IF system
Values of islamic finance
The Islamic Finance Markets - highlights
Development of IF
Chronology of modern Islamic Finance
Multinational banks position
conclusion
Introduction
Primary Sources
The Holy Quran
Sunnah (the sayings, deeds and endorsements of Prophet
Muhammad PBUH)
Secondary Sources (mostly by the exercise of Ijtihad
(reasoning by the learned))
Islamic Finance Principles - Concept
No intrinsic value in money :
Money as a way of exchange and a store of value not subject to trade
Fundamental principle :
Risk sharing partnership => Profit and Loss Sharing (PLS)
basically, no pain no gain
– Musharaka- Partnership
– Quran
– Mudaraba - Partnership
– Sunnah
– Murabaha - Purchase-resale
– Ijma’ (jurist Shariah filter
consensus) – Ijara - Lease
affinity aspirati
ons – Builds systematic
checks on
financial
– Ethical providers
investment Parallel Respons
– Restrains
trends ible consumer
finance indebtedness
Inclusiv Alterna
e tive
proposi paradig – Stability from linking
– Open to all-faith clients tion m financial services to the
productive, real economy
– Available to Islamic and – Moral compass for
conventional issuers capitalism
Strong growth of
OIC economies
Innovative product
Institutional capital
development
EXPLOSIVE GROWTH
OF ISLAMIC FINANCE
Liberalisation of Resurgence of
capital markets Muslim cultural values
Retail customer
commitment