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Islamic Banking
1 PapersIslamic banking, also referred to as Islamic finance or Shariah-compliant finance, refers to financial activities that adhere to Shariah (Islamic law). Two fundamental principles of Islamic banking are the sharing of profit and loss and the prohibition of the collection and payment of interest by lenders and investors.
Purging
1 PapersThe process of removing interest income from total income is known as interest purification or purging. It is one of the important requirements of the Sharīʿah when undertaking Islamic investments. Purification can be either of interest income only or of different kinds of impure income.
Shariah Compliant Screening
1 PapersThe preferred Islamic investment format is equity. However equity comes along with ownership. Hence Islamic investors have to ensure that the selected company’s activities and structuring are not........................................................