Articles

Roadmap for Britain's First Islamic Bank (Interview)

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:08

In this interview with Michael Hanlon, the M1anaging Director of the Islamic Bank of Britain, he discusses the difficulties that encountered the process of establishment of the bank. He tackles some issues such as the type of services offered by the bank and to what extent the bank could rise to the competition with conventional banking. TM

Application of Islamic economic system in a contemporary economy: an illustration with poverty and inequity in the USA

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:08

This article outlines the fundamental principles of Islamic economics largely from an historical and Qur'anic perspective, along with the relationship to economic development more broadly. Communist and capitalist systems, while well suited for generating material wealth, do not fulfil spiritual needs, and are forced to enact strict legal systems to maintain order. The Islamic economic system is evaluated as a potential solution to poverty in the United States, with the collection and distribution of zaka as one instrument of lessening inequality.