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When a constituent of any company or any organization be a condition of incorporation in accordance with Islamic regulations and work out trading on the Islamic principle of application of the conditions to ensure the success of the work
aWe that our Islam has forbidden riba trading and use the fixed interest that is ignorant of the ways to get it so when we open any project to be fully aware of the methods used in these projects and how to walk on the Islamic dimensionThank you for this question, Lord help you
ndget the luck of God
If I am not mistaken, Can we really classify accounting as islamic or non-islamic, I mean there are transactions which are prohibited and to make your financial system in line with Islamic guidelines we need only to avoid what is termed as Haram such as interest etc? please correct me if I am not wrong
Following Islamic Finance is important for both Muslim and Non Muslim. Please visit this website http://www.economist.com/content/global_debt_clock. And you will find the rate of debt growing by seconds.
Most of them use the word Islamic Finance but truely it is not, It may be in the name of Sukuk, Ijara, Insurance, Equity shares, Murabaha or Mudaraba etc. The way the Bank follows is not islamic. Refer study done by Islamic Development BanK - Reseach Paper No.20 for more details.
The world should change the economic system from Interest Based Economic Sytem to Zakat Based Economic System.
Profit and Loss Sharing is the tool that company should follow in Islamic Finance. And the deals should not be just Paper work that most Bank follows.
Many more points can be discussed in this topic, but I will stop here itself
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