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Yes, Islam is the solution… but how? (Part 10)

http://www.3rbi.info/Article.asp?ID=5084 The ruler is deemed responsible for the realisation of social stability by lawful methods. Islam has certainly guaranteed the plentiful availability of revenues through two principal means: a) Imposing secure financial obligations that are to be taken continuously, such as obligatory alms. b) The creation of public sectors and directing the state to invest […]

Yes, Islam is the solution… but how? (Part 9)

http://www.3rbi.info/Article.asp?ID=5084 The financial system for the Islamic state Islam has placed a financial system in accordance of which money does not exceed the goal for which it was [intended]. Among the most prominent features of the Islamic financial system is that it is a system that exists within the religious, social and economic directives of […]

Yes, Islam is the solution… but how? (Part 8)

http://www.3rbi.info/Article.asp?ID=5084 The Islamic organisation of stock exchanges require that chief elements of the salam contract [a type of forward sale contract], in that it is the selling of a known thing up to a certain term, be applied to future contracts in both paper money markets and commodities markets with the availability of the most […]

Yes, Islam is the solution… but how? (Part 7)

http://www.3rbi.info/Article.asp?ID=5084 Commercial insurance, which insurance companies carry out, does not achieve the legal characteristic for co-operation and joint responsibility though both reciprocal insurance and social insurance achieve the functional characteristic which Islam prescribed for co-operation and making sacrifices. So these two types of insurance exist [based] on the intention of co-operation, joint responsibility and donation […]

Yes, Islam is the solution… but how? (Part 6)

http://www.3rbi.info/Article.asp?ID=5084 The objective of [having] Islamic banks is that they take the place of commercial banks considering that they operate on interest, and it is here that some Islamic jurists are of the opinion that the mudaraba (silent partnership) contract1 in Islam is considered a legal basis for some contemporary credit processes, accordingly, it modifies the […]