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This meant that not only were interest-bearing loans, accounts, and bonds not allowed, but many financial instruments and activities common in conventional financial markets have been forbidden by most Muslim scholars because of their connection with maisir or gharar [Note 1] (and also sometimes because they involve payment of interest).
It is often described as an interest-free loan extended to needy people. [336] [337] [338] Such loans are often made by social service agencies, or by a firm as a benefit to its employees, [339] rather than by Islamic banks. They are analogous to the microcredit of conventional finance, when it does not provide for an interest.
Sharia prohibits riba, or usury, defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to riba). [4] [5] Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also haraam ("sinful and prohibited").
Bonds are one of the two most basic investment options, along with stocks. While stocks are fairly well understood - you buy a piece of a company and make money when the company does well and ...
A change in interest rates typically affects longer-term bonds more than it does short-term bonds. Bonds expiring in the next year or two will feel minimal impact from an environment of rising rates.
Bonds issued by corporations or other entities that carry credit risk typically trade at a yield premium to bonds that are considered to be free from the risk of default, such as U.S. Treasury ...
There are several indicators this is a problem in Muslim majority countries (such as the presence of most Muslim-majority countries in the lower half of the Transparency International Corruption Perceptions Index and the "widespread tax evasion in both the formal and informal sectors" of Middle East and North Africa, according to A.R. Jalali ...
Being Muslim in America means… “I think there’s always a certain level of bias initially when people meet you. Especially for me as a Muslim woman, they’ll be surprised. I am a professional and I work in an area that is high-paced and intense. I don’t think people usually envision a Muslim woman in that space.