Centre for Islamic Economic

Understanding Islamic Banking


Islamic banking is established on the principles of Islamic beliefs as they link with business transactions. The basics of Islamic banking are stemmed from the Quran, the main holy text of Islam. In Islamic banking, all transactions must comply with shariah guidelines, the lawful code of Islam which is in view of the preachings of […]

6 Major Modes Of Islamic Banking & Finance

There are many modes of Islamic banking and finance. However, in this blog, we’ve discussed the most-used modes of Islamic banking and financing. These are: MUDARABAH It is a type of partnership where one party has the right to invest in the business i.e; Rabbul-maal and the other has the right to manage it i.e; […]

Understanding How Takaful Works

Understanding How Takaful Works In this blog, we have discussed Takaful operations and the kinds of funds required for it. Give it a read. Process of Takaful All policyholders consent to promise one another and, rather than paying premiums, they make contributions to a common pool or a mutual fund to alleviate the financial liabilities […]