The Garden of Knowledge

بسم الله الرحمن الرحيم

19 Rajab 1447/09 January 2026

All praise is due to Allah, the Cherisher, Sustainer, Nourisher and Provider of the entire creation. May peace, blessings and salutations be upon our Beloved Prophet Muhammed ﷺ.

Ilam is not merely a religion limited to acts of worship; rather, it is a comprehensive and divinely ordained way of life that governs belief, character, social conduct, and economic activity. Allah ﷻ has provided mankind with a complete framework that ensures justice, balance, and mercy in all human dealings—including how wealth is earned, distributed, and preserved.

Islamic finance is not simply defined by the absence of riba; it is built upon a broader ethical framework that includes:

• Asset-backed and real economic activity
• Promotes Risk-sharing and risk bearing activities rather than risk-transfer
• Prohibition of excessive uncertainty (gharar)
• Avoidance of unethical industries
• Promotion of social justice and equitable distribution through Zakah, Sadaqah, Waqf etc.

Allah ﷻ commands fairness and moral integrity in financial dealings:

يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟ لَا تَأْكُلُوٓا۟ أَمْوَٰلَكُم بَيْنَكُم بِٱلْبَـٰطِلِ إِلَّآ أَن تَكُونَ تِجَـٰرَةً عَن تَرَاضٍۢ مِّنكُمْ ۚ

“O you who believe! Do not consume one another’s wealth unjustly, but only through trade conducted by mutual consent.”
(Surah An-Nisa 4:29)

Global Growth and Relevance of Islamic Finance

Over the past few decades, Islamic finance has experienced significant growth and global acceptance. Key drivers of this expansion include:

1. Rapid growth of the global Muslim population, increasing demand for Shariah-compliant financial solutions.
2. Rising wealth and investment capacity in Muslim-majority economies, creating a need for structured Islamic banking, capital markets, and takaful systems.
3. Globalization and financial integration, prompting conventional institutions to develop Islamic windows and products to access ethical and Shariah-sensitive capital.
4. Growing disillusionment with conventional finance, especially following global financial crises, which exposed systemic weaknesses rooted in excessive debt and speculation.

One of the main reasons for such significant development taking place is that people have realized the importance of following Shariah principles in all aspects of life. We may not see the importance now, but later in future one we may see the harms of riba and other non-shariah compliant principles affecting not only us but our families as well.

May Allah accept our efforts from us and grant us understanding In Sha Allah!