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Islamic
The famous farewell sermon of the Prophet Muhammad (peace be upon him) in his final Hajj is full of wisdom and principles. This was the last time he addressed the faithful in such a large gathering. Within this sermon, he emphasised on the principles of the Islamic moral economy and Finance. Some of these principles...
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In essence, Rahn is collateral which is any property or asset used to secure a debt. For example, a home purchase is typically secured by pledging the home as collateral. If the borrower defaults, the financier can seize the property. But why did the Shariah allow for Rahn? What are the Shariah wisdoms tied to...
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