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    Introduction of Islamic Finance

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    Zaky Rasul
    This document introduces Islamic finance, which complies with Islamic law and prohibits interest (riba), gambling (maisir), and speculative trading (gharar). It defines riba as unlawful interest from loans, provides an example of how interest works, and notes the Quran prohibits usury. It explains risk and uncertainty in insurance as examples of gharar. The document also defines maisir as gambling and cites a Quran verse stating gambling is a sin. It briefly outlines the origin and evolution of Islamic finance dating back to Prophet Muhammad and concludes by listing major models like murabah, mudharabah, and ijarah.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Introduction of Islamic Finance

    Uploaded by

    Zaky Rasul
    41 views11 pages
    This document introduces Islamic finance, which complies with Islamic law and prohibits interest (riba), gambling (maisir), and speculative trading (gharar). It defines riba as unlawful interest from loans, provides an example of how interest works, and notes the Quran prohibits usury. It explains risk and uncertainty in insurance as examples of gharar. The document also defines maisir as gambling and cites a Quran verse stating gambling is a sin. It briefly outlines the origin and evolution of Islamic finance dating back to Prophet Muhammad and concludes by listing major models like murabah, mudharabah, and ijarah.

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    introduction to islamic finance for beginner.

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    This document introduces Islamic finance, which complies with Islamic law and prohibits interest (riba), gambling (maisir), and speculative trading (gharar). It defines riba as unlawful interest from loans, provides an example of how interest works, and notes the Quran prohibits usury. It explains risk and uncertainty in insurance as examples of gharar. The document also defines maisir as gambling and cites a Quran verse stating gambling is a sin. It briefly outlines the origin and evolution of Islamic finance dating back to Prophet Muhammad and concludes by listing major models like murabah, mudharabah, and ijarah.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    41 views11 pages

    Introduction of Islamic Finance

    Uploaded by

    Zaky Rasul
    This document introduces Islamic finance, which complies with Islamic law and prohibits interest (riba), gambling (maisir), and speculative trading (gharar). It defines riba as unlawful interest from loans, provides an example of how interest works, and notes the Quran prohibits usury. It explains risk and uncertainty in insurance as examples of gharar. The document also defines maisir as gambling and cites a Quran verse stating gambling is a sin. It briefly outlines the origin and evolution of Islamic finance dating back to Prophet Muhammad and concludes by listing major models like murabah, mudharabah, and ijarah.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    INTRODUCTION OF ISLAMIC

    FINANCE

    BY: MOHD ZAKY B. MD RASUL

    INTRODUCTION
    Islamic finance refers to a system of finance that
    complies with Islamic law.
    Activities that involve interest (riba), gambling
    (maisir) and speculative trading (gharar) are
    prohibited.

    RIBA

    Definition : Increase, additon or growth


    Unlawful gain
    Example : bank interest

    Example

    Loan RM10

    A
    Pay RM12

    RM2 is a riba

    Allah s.w.t said in holy Quran:


    while God has made buying and selling lawful
    and usury unlawful.

    Risk

    Hazard

    uncertainty

    Gharar

    EXAMPLE
    Uncertainty in life insurance policy because we cannot predict
    our future.

    Why it prohibited by islam?

    Surah al Nisa: 29 o you who


    believe? Eat not your property
    among yourselves unjustly by
    falsehood and deception, except
    it be a trade amongst you by
    mutual consent

    MAYSIR
    definition

    Al-quran

    Gambling
    betting

    They ask the concerning wine and


    gambling, say in the is great sin and
    some benefit for men. The sin is
    greater than the benefit(2:219)

    THE ORIGIN, HISTORY AND


    EVOLUTION OF ISLAMIC FINANCE
    Practiced by nabi muhammad when the Prophet
    himself carried out trading operations for his wife,
    known as mudharabah.

    MAJOR MODELS OF ISLAMIC


    BANKING AND FINANCE SYSTEM
    Murabah
    (Profit
    sharing)

    Mudharah
    (Cost Plus)

    Ijarah
    (leasing)

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