What is it about?
Few Islamic Banks are practicing Shariah non-compliant product of Salam in Currencies. This product is nothing but interest bearing loan. The methodology adopted to engineer this product is also not allowed as per Shariah principles.
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Why is it important?
This paper is important to bring Islamic banking back towards the right track of Shariah compliance. It is also a aster piece for researchers in Islamic finance to train them how to analyze an Islamic banking product.
Perspectives
This paper is a good addition in critical literature on Islamic banking and Finance regarding Shariah compliance. I have written this article as co-author with Dr. Zahid Siddique Mughal.
Muhammad Abubakar Siddique
International Islamic University
Read the Original
This page is a summary of: Reconciling the irreconcilable (
talfeeq
): The case of currency
salam, International Journal of Finance & Economics, January 2021, Wiley,
DOI: 10.1002/ijfe.2436.
You can read the full text:
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