Continuation
1.
ISLAMIC FINANCE – PRINCIPLES AND CHARACTERISTICS*
1.1.
DEFINITION AND SOURCES
An
Islamic financial system is one that complies with Islamic religious law (Shari’ah).
It
has the distinctive feature that it tries to reconcile a secular financial system
with the basic tenets of the Islamic faith.
Under
Islam, there is no concept of an economy functioning independently of the religious
criteria.
That
religious criteria which inform every single aspect of human life.
It
says that, homo economicus is not:
o
independent
o
and separate
from
the mu’min (believer).
*ANGELA
DI MARIA
From the research
paper of European Central Bank
(Authors:
F.Mauro, P.Caristi, S.Couderc, A.D.Maria,
L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)
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