Articles
Islamic banking is best
Colonialists initiated banking in Sudan in order to serve the interests of the colonizing power. After independence, banks in Sudan continued to operate on the same principles as colonial banks. God prohibits dealing in riba (interest) mainly because it causes oppression and exploitation. Islamic banks are structured to improve the economic welfare of all people.
World is spreading: the new friends of Islamic banking
Islamic banking concepts can be used by traditional banks and non-Muslims. Islamic banking is finding investors and associates in some of the world's largest corporations.
The role and significance of Ushr in agricultural taxation policy in Muslim economies
Tax policies relating to the agricultural sector of developing economies must be given careful consideration. The concept of Ushr can help guide tax policies in Muslim countries in particular.
Is there a Halal mortgage?
In order to allow Muslims avoiding interest to own homes, the concept of the Shared Equity Rental (SER) has been developed. The SER is an alternative to the conventional mortgage first worked out in Halifax, Canada in 1975. The structure of the SER is based on an idea similar to partnership. A number of investors pool funds in order to buy a home. One investor acts as the tenant-buyer. He lives in the house and pays rent to the other investors in the deal, who own shares of the property. This rent is based on the market value of the house, as determined through outside assessment.
Principles of taxation and fiscal structure in an Islamic state
Attempts have been made to implement a comprehensively Islamic economic policy in Pakistan in accordance to Shari'a. A fundamental tenet of any such policy would be