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What is Islamic Finance?

What is Islamic Finance?

Islamic finance is a type of financing activities that must comply with Sharia (Islamic Law). The concept can also refer to the investments that are permissible under Sharia.

The common practices of Islamic finance and banking came into existence along with the foundation of Islam. However, the establishment of formal Islamic finance occurred only in the 20th century. Nowadays, the Islamic finance sector grows at 15%-25% per year, while Islamic financial institutions oversee over $2 trillion.

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EDITOR’S NOTE

MAM CALLS FOR UNITY
AMONG MUSLIMS

There is power in unity. So much can be achieved when the country unites then come up with something tangible for sustainable growth and development.

Islam encourages peace and unity among the believers. Islam gives much attention on unity for Muslim, unity is the cause of mercy and way to paradise. Oneness has a major importance in a Muslim life, especially in the current situation where followers of Islam are faced with various
challenges and aggressions.