Islamic Finance

The Beauty of TABARRU’ (ALMS) concept in Takaful Application

Takaful contracts are based on the concept of Tabarru’ (donation) and Ta’awun (mutual assistance), where all participants who join the takaful plan agree to mutual assistance, and guarantee them, should disasters or accidents occurs.

Estate Planning for Muslim

Under the blood relationship, if the deceased have heirs to the estate such as surviving parents, children and even siblings, therefore they can inherit a portion of the estate. Of course if the deceased is married to a Muslim, the estate also goes to the surviving spouse, but if all attempts to locate the heir fails, than the unclaimed estate shall be given to the Baitul-Mal. The unfortunate assumption made by a lot of Muslims is, there is no necessity to do estate planning since their wealth is already covered under the Faraid distribution.

Islamic Wealth Protection

We, human beings, have one characteristic the acts as a motor that generates energy in our daily lives and that is greed. Greed is not that bad if we nurture it properly so that it does not become our main course in life.

What Is Islamic Wealth Management?

The Islamic financial industry is a comprehensive financial system that adheres to Islamic principles. It was the financial system of the known world developed under the reign of the Muawiyad and the Abbasid empires from the year 661- 850.

Islamic Banking Basic Guide

1. What is Islamic Banking?
Islamic Banking is an activity that is consistent with Islamic Law or Shariah. The activity is carried out in accordance with the rules of Shariah.
2. Is Islamic Banking meant for Muslims?
Islamic banking is available for all individuals of all religious beliefs.
3. What are the differences between Islamic and conventional banking? The most important difference is the prohibition of interest. Islamic banking activity must comply with Shariah principles and avoid prohibited activities such as gharar (excessive uncertainty) and maisir (gambling).
4. How do Islamic banks reward their depositors …