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BSP grants Islamic banking window license to 2 firms - business.inquirer.net

newsblur - Tue, 2024-07-23 11:38
IslamicFinance shared this story from "islamic finance" - Google News. BSP grants Islamic banking window license to 2 firms  business.inquirer.net

Why Is Riba Al-Fadl Unacceptable?

newsblur - Fri, 2024-07-19 10:02
IslamicFinance shared this story from Islamic Economics Project. Riba al-Fadl is described as an unlawful excess in the exchange of two counter-values where the excess is measurable through weight or measure. The concept is based on some Ahadith according to which if gold, silver, wheat, barley, dates, and salt are exchanged against themselves, they should be spot and be equal and specified. If these conditions are not found, this transaction will become Riba al-Fadl.



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