Shariah, or Islamic law, governs all aspects of Muslim life. This includes financial transactions, commercial agreements, and civil arrangements that fall under the scope of mu’amalat (معاملات). When one comes across the term “Shariah-compliant businesses”, this refers to businesses that adhere to Islamic principles, ethics, and values when conducting their …
Differences between Conventional and Shariah Financing
Finance has grown tremendously over the recent decades. Conventional finance saw an evolution since the rise of mercantile States in the Middle Ages. A newer mode of finance gained traction in the 1970s: Islamic finance. Islamic financial institutions were established in the Middle East and Asia. Malaysian banks like Bank …
Driving Business Expansions Through Shariah-Compliant Micro Financing
What is Shariah-Compliant Micro Financing Small and Medium Enterprises (SMEs) play a vital role in the Malaysian economy, accounting for more than a third of the GDP and job opportunities. However, many entrepreneurs and small businesses face challenges in accessing capital through traditional financing methods. Shariah-compliant Micro Financing offers a …