Concept tag
#islamic-finance
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How does Islamic legal reasoning decide on a financial product that no text mentions?
Our product team at the bank is looking at a "buy now, pay later" service. Inevitably someone asked whether it's halal. Someone else said, a bit dismissively, that the Qur'an and hadith obviously don't mention smartphone instalment apps, so either the scholars…
Started by Nur Aisyah Rahman5 replies -
Is the ban on riba about bad outcomes, or about the form a transaction may take?
Many of my clients in Surrey are Muslim. Several of them won't take a conventional loan. One explained that it's not because the interest rate is too high; it's that a guaranteed return on money lent is wrong in itself, whatever the…
Started by Harpreet Kaur Grewal4 replies