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Islamic banking and finance has its own products and services that differ from conventional banking. [ 1][ 2] These include Mudharabah ( profit sharing ), Wadiah (safekeeping), Musharakah ( joint venture ), Murabahah (cost plus finance), Ijar ( leasing ), Hawala (an international fund transfer system), Takaful (Islamic insurance), and Sukuk ...
Islamic marketing. Islamic marketing is a process of attempting to sell a product or service to customers and other stakeholders while keeping this process in accord with the principles of Islamic transaction. [ 1][ 2][ 3] This includes maintaining halal for the products or services being marketed. [ 4]
Challenges in Islamic finance. Challenges in Islamic finance are the difficulties in providing modern finance services without violation of sharia (Islamic law). [1] The industry of Islamic banking and finance has developed around avoiding riba (unjust, exploitative gains made in trade or business) by avoiding interest .
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The Council on American-Islamic Relations said Tuesday it received 8,061 complaints of anti-Muslim bias incidents last year, rising to its highest number in the 28 years CAIR has tracked hate.
A Sharia Board (also Sharia Supervisory Board, Advisory Board or Religious Board) [ 1] certifies Islamic financial products as being Sharia -compliant (i.e. in accordance with Islamic law). [ 2] Because compliance with Sharia law is the underlying reason for the existence of Islamic finance, Islamic banks (and conventional banking institutions ...
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