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Published by: Centre for Islamic Banking and Finance
Published in: 2003
Length: 11 pages
Data source: Field research
Topics: Islamic banking

Abstract

This is the fourth of nine, in the Islamic Banking and Finance technical note series (103-016-6 to 103-024-6). The origin and basis of Islamic banking is Sharia, ie Islamic law, sometimes referred to as Islamic Jurisprudence. In the faith and belief of a Muslim, Islam is the religion revealed by Allah to his prophet, Mohammed. The teaching of Islam encompasses the essence of economic well-being and development of Muslims at the individual, family, society, state and ''ummah'' (or Islamic universal community) levels. To appreciate the Islamic concepts of banking and finance it is essential to place the concept within the context of the beliefs and philosophy underlying Islam.

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Abstract

This is the fourth of nine, in the Islamic Banking and Finance technical note series (103-016-6 to 103-024-6). The origin and basis of Islamic banking is Sharia, ie Islamic law, sometimes referred to as Islamic Jurisprudence. In the faith and belief of a Muslim, Islam is the religion revealed by Allah to his prophet, Mohammed. The teaching of Islam encompasses the essence of economic well-being and development of Muslims at the individual, family, society, state and ''ummah'' (or Islamic universal community) levels. To appreciate the Islamic concepts of banking and finance it is essential to place the concept within the context of the beliefs and philosophy underlying Islam.

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