Islamic Business Practices

Islam has had an impact on business blueprints in America and virtually the world. In America,
Islamic business practices has had an impact on Muslim individuals. Islamic law, Shariah, forbids its
followers from paying and charging lodge in. For individuals to attain Shariah-compliant mortgages,
special banks take been created. In 2001 one individual Muslim man successfully voiced his opinion,
and was able to implement Islamic banking in an already established bank . The Muslim man asked, If
your bank is so outstanding for community service...how come youre not help my
community?(Freedman, 2009). The president of this particular bank located in Michigan, Mr. Ranzini,
understood this mans reasoning and decided to create Shariah-compliant financing in his bank.
Dr. Din, an immigrant from Pakistan and a practicing Muslim living in California, has similar
views. Most of the Muslims who practice Islam would not buy houses with interest-based mortgages.
(Brown, 1994). He claims although there is a minority of Muslims who participate in conventional
banking, most Muslims would not. He himself purchased a sept through a small Islamic financing
company.
Around the world, Islamic business practices has had an impact on Muslim individuals as well.




check to Fareed Hadi, a Bahraini scholar, The main thing for Islamic economic science or banking is to
deal with people fairly. It means not victorious what you should not take. (Wallin, 2005). Hadi, a
dedicated Muslim individual, explains in simple scathe why interest is not allowed in his religion. This
is because the paying and charging of interest is not fair. Hadi makes it clear that taking what is not
yours is not allowed in Islam. This part of Islam has impacted the lives of many.
Majid Dawood, another Muslim individual, from Dubai claims We had expected to be at 12
percent of the global market by 2025, but promptly with this financial crisis, we expect to contribute there much
faster. (Ambah, 2008). Dawood here...If you want to get a full essay, order it on our website: Ordercustompaper.com



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