Missing players of Islamic finance


DURING the golden Islamic period, there were neither banks nor any role of interest in economic activity. The allocation of savings/investment and conversion of investment into production and distribution took place without the institution of interest. All sorts of real and financial services like the sale/purchase of goods and services and the provision of funds for…

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O mankind! We created you from a single (pair) of a male and a female, and made you into nations and tribes, that ye may know each other (not that ye may despise (each other). Verily the most honoured of you in the sight of God is (he who is) the most righteous of you. And God has full knowledge and is well acquainted (with all things). ~ Quran 49:13