![]() These prohibitions have been applied historically in varying degrees in Muslim countries/communities to prevent un-Islamic practices. pork or alcohol) is also haram ("sinful and prohibited"). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. Sharia prohibits riba, or usury, generally defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to riba). Some of the modes of Islamic banking/finance include Mudarabah (profit-sharing and loss-bearing), Wadiah (safekeeping), Musharaka (joint venture), Murabahah (cost-plus), and Ijara ( leasing). ![]() Islamic banking, Islamic finance ( Arabic: مصرفية إسلامية masrifiyya 'islamia), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics.
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