What is Zakat?

Every year, especially during the month of Ramadan, Muslims in large numbers around the world pay a compulsory financial contribution called Zakat, whose root in Arabic means "purity". Zakat is therefore seen as a way to cleanse and purify income and wealth from what can sometimes be worldly and impure means of acquisition, in order to gain God's blessing. Being one of the five pillars of Islam, the Quran and hadiths give detailed instructions on how and when this obligation should be fulfilled by Muslims.

What does Halal and Haram mean?

The word “Halal” holds an important place in the hearts of Muslims. It mainly manages their way of life. The meaning of the word halal is legal. Permitted, lawful and authorized are other terms that can translate this Arabic word. Its antonym is "Harâm" which translates what is considered a sin, therefore, prohibited. Usually, we speak of Hallal when it comes to food, especially meat. From early childhood, the Muslim child must imperatively make the difference between foods that are allowed and those that are not. They need to know what halal means.

The 14 most used Islamic financial instruments

What are the most used Islamic financial instruments? This question is the reason for this article. In fact, Islamic finance as an alternative to conventional finance offers a number of financial instruments. However, these instruments must be Sharia compliant. These instruments are more generally classified into three categories. We have financing instruments, participation instruments and non-banking financial instruments. For this article, I present to you the most used financial instruments.