Everything You Need to Know About Islamic Finance and Banking

05 May 2023

CLARS held a Student Discussion Forum on Islamic Finance and Banking. The video recording of the event is now available to watch.

This talk, by Mohamed ‘Arafa SJD (Professor of Law, Alexandria University Faculty of Law, Egypt) introduces students to the key features of Islamic banking and finance, and describes how they differ from their Western counterparts.

An Islamic financial system is governed by norms designed to help a society create social justice and eradicate financial exploitation. These rules/guiding principles include various unique and distinctive characteristics not found in conventional banking system(s).

Students learnt about all aspects of Islamic banking, including mūrābāhā (mark-up price), mūdārbā (sleeping partnership), ījārā (lease) and īstīsnā’ā (manufacturing) financing methods, as well as tākāfūl (insurance).

The recording of the event is now available to watch on the CLARS Video Portal.