For hundreds of years, there was no need for Islamic finance because there was simply no financial system to “Islamise.” Up until the second half of the 19th century, the vast majority of the Muslim population around the world was unbanked and the prohibition of interest was applied on transactions by tradition rather than by … Read more
The first of five parts of a Global Finance FAQ web series on Islamic finance. In just a few decades, Islamic finance has established itself as a significant player in global finance. Today, with thousands of institutions around the world, this sector is no longer limited to the devout clientele of Muslim countries in the … Read more
Home Features Islamic Finance FAQ: A Global Finance Series Islamic finance is a fast-growing $3.9 trillion industry, yet many finance professionals do not know halal from haram. Global Finance answers the most frequently asked questions about Islamic finance in this five-part series. Top 5 FAQs: 1. What Is Islamic Finance? 2. How Does Islamic Finance … Read more
The third installment of a Global Finance FAQ web series on Islamic finance. Islamic finance is today a $3.9 trillion industry spread over more than 80 countries with the bulk of it concentrated in very few markets. Comparing data from different sources shows that just 10 countries account for almost 95% of the world’s sharia … Read more