There are five principles of Islamic Finance, which are
- all business transaction must be based on islamic principles.
- all investment for Islamic financial system must be in the Syariah -compliant products.
- all surplus money that to be channeled into the financial market system must be done by islamic bank, takaful provider and islamic private equities company.
- profit sharing agreement is the platform to share the profits from the shariah-compliant investment.
- prohibition of riba and tranparency of the transaction are the key.
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| Cordoba,Spain - part of the prayer area of the Moorish mosque, built in late 10th century. Now turned as museum and Christian cathedral. |
