Shariah Bankers and Zakat Arm in Arm in Oman
Oman is a relative newcomer in the Arab world to Shariah-compliant finance, but now the sultanate is jumping in with both feet. An example is the symposium linked below which promotes the marriage between Shariah finance and zakat. We include this link primarily because there are still some who deny any linkage between Shariah finance […]
One of the chief concerns about Shariah-Compliant Finance is the lack of liquidity born of the ban on interest. The industry has sought to address this problem with convoluted instruments which are largely unproven. And they won’t be proven until they endure a financial crisis of some sort. In the last financial crisis the instrument […]
Shariah Bank in Oman Facilitates Customers’ Zakat Donations
One of the chief concerns of Shariah-compliant finance is its relationship to zakat, the system of tithing in Islam. The concern stems from the fact that, under Shariah, one of the eight acceptable destinations for zakat money is to those fighting in the way of Allah. We have covered this extensively on SFW for years. […]
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