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Review:

Islamic Finance

overall review score: 4.5
score is between 0 and 5
Islamic finance is a financial system that operates in accordance with Islamic law (Sharia) principles. It prohibits the payment or receipt of interest and follows ethical guidelines such as risk-sharing, asset-backed financing, and avoiding investments in businesses involved in alcohol, gambling, or pork products.

Key Features

  • Sharia-compliant financing
  • Profit-sharing arrangements
  • Asset-backed transactions
  • Socially responsible investments

Pros

  • Promotes ethical and socially responsible investing
  • Encourages risk-sharing and discourages excessive speculation
  • Offers alternative financial products for individuals and institutions

Cons

  • Complex legal and regulatory frameworks can be challenging to navigate
  • Limited availability of Islamic financial products in some regions

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Last updated: Mon, Nov 18, 2024, 05:56:34 PM UTC