The Quran is the primary source of law in Islamic finance.

It provides the fundamental principles and

guidelines that govern all aspects of Islamic finance. In this essay, we will discuss the role of the
Quran in Islamic finance and its importance as a source of law.

The Role of the Quran in Islamic Finance

The Quran is the holy book of Islam and is considered the word of God. It is the primary source of
law in Islamic finance and provides the fundamental principles and guidelines that govern all aspects
of Islamic finance. The Quran provides guidance on a wide range of issues, including financial
transactions, business practices, and social responsibility.

The Quran provides guidance on financial transactions by outlining the types of investments that are
considered permissible in Islam. For example, the Quran prohibits investments in businesses that
deal in alcohol, gambling, or other prohibited activities. The Quran also prohibits charging interest
on loans, which is the basis of Islamic finance. Instead, Islamic finance relies on profit-sharing
arrangements, such as mudarabah and musharakah, which are based on the principles of risk-
sharing and partnership.

The Quran also provides guidance on business practices, such as honesty, transparency, and fairness.
Islamic finance is based on the principles of social responsibility and ethical behavior, which are
derived from the Quran. The Quran emphasizes the importance of treating others with respect and
compassion, and of avoiding practices that are harmful to society.

The Quran also provides guidance on social responsibility by emphasizing the importance of charity
and helping those in need. Islamic finance is based on the principles of social justice and economic
equality, which are derived from the Quran. The Quran emphasizes the importance of helping the
poor and needy, and of promoting the welfare of the community.

The Importance of the Quran as a Source of Law in Islamic Finance

The Quran is the primary source of law in Islamic finance and is considered the ultimate authority on
all matters related to Islamic finance. The Quran provides the fundamental principles and guidelines
that govern all aspects of Islamic finance, and its teachings form the basis of Islamic finance.

The Quran is important as a source of law in Islamic finance because it provides a clear and concise
framework for conducting financial transactions that are in accordance with Shariah. The Quran
provides guidance on the types of investments that are considered permissible in Islam, and on the
principles of risk-sharing and partnership that underlie Islamic finance.
The Quran is also important as a source of law in Islamic finance because it provides guidance on
business practices that are ethical and socially responsible. The Quran emphasizes the importance of
honesty, transparency, and fairness in business practices, and of avoiding