Introduction to Islamic Banking & Finance

Introduction to Islamic Banking and Finance is a succinct guide to the key characteristics of Islamic banking highlighting how these differ from conventional banking. This detailed book illustrates how Islamic banking is consistent with the Sharia’a, a key element of which is the prohibition on collecting and paying interest. This central religious precept appears to rule out most aspects of modern finance but it does allow money to be used for trading tangible assets and business, which can then generate a profit.

 

Abu Umamah (May Allah be pleased with him) reported:

I heard the Messenger of Allah ( Sallallahu Alaihi Wasallam ) saying, “Read the Qur’an, for it will come as an intercessor for its reciters on the Day of Resurrection.”

[Muslim]