Professional Documents
Culture Documents
and Finance
Philosophical
Islamic Banking & Islamic Money &
Foundation and Takaful Fintech
Products Capital Market
Basic Rules
Islamic Economic
Salam and Istisna Money Market
System
Mudarabah and
Key Prohibitions Deposits in Islamic
Banking
Islamic Law of
Musharakah
Contracts and Sale
Overview of Islamic Finance
INSTRUCTOR: DR. ABIDULLAH KHAN
What Islam has to do with Finance?
This day I have perfected for you your religion and completed My favor upon you and have
approved for you Islam as Din.
(Al-Qur’an 5:3)
Din
Haquq ul
Haquq Allah
Ibad
Economic
Ibadaat
Matter
Why should we focus not only on Haquq
Allah?
The number of Prayers, the duration of fasts, the percentage of zakat, and the rituals of
Hajj are not specified in Qur’an.
But dealings such as financial dealings, prohibition of interest, issuance of debt are
explicitly mentioned in the Qur’an.
The importance of mua’mlaat can be understood from the following hadith
The son of Adam will not pass away from Allah until he is asked about five things: how he
lived his life, and ow he utilized his youth, with what means did he earn his wealth, how he
spent his wealth, and what did he do with his knowledge.
(Thirmidhi 2416)
Guiding Principles of Islamic Finance
Key Principles of
Islamic Financial
Transactions
Shari’ah Non-
Compliant Halal Investments Risk Sharing Asset Backing
Transactions
Riba
Gharar
Mysir
A Historical Overview of Events that Shaped
the Conventional and Islamic banking system
Bretton
The Sub-
The Great Glass Woods Gramm- The Corona
IDB and AAOIFI Prime
Depression Steagall Act, System’s Leach-Bliley Pandemic,
DIB, 1975 1990 Mortgage
1929 1933 Collapse Act 1999 2020
Crisis, 2007
1971