Islamic Finance - Genuine Economic Activity
Muslims hold the view that money cannot generate wealth on its own and must instead be invested in productive economic ventures like trading, leasing, and investing to generate further income. Trading and sales are permitted according to the Qur'an, although riba and interest-based transactions are banned. The Qur'an states in chapter 2, verse 275, "God has made trade permissible and riba prohibited." Contracts for the sale of goods, provision of services, or investments are intended to establish a link between money and profit or revenue. To make money for Islamic banks, money must be invested in legitimate economic pursuits.
0 Comments
Leave a Reply. |
AuthorAnything you need to know about finance, money and business Archives
May 2023
Categories
All
|