Islamic crowdfunding offers a huge opportunity for lenders, investors but also entrepreneurs who contribute to the social and economic development of the small and medium business sector in Islamic countries. Crowdfunding literally means crowdfunding.
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.
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.
Islamic finance is an alternative to traditional finance. It allows interest-free financing of projects. Here are its key concepts.
The Islamic financial system like any system has an organization. To ensure its development, finance has several supervisory and control bodies and institutions. In this article, Finance de Demain introduces you to the different components of the Islamic financial system.
Islamic banks are institutions with a religious reference, that is to say based on respect for the rules of Islam. Three main elements make the particularities of Islamic banks compared to their conventional equivalents.