Do you agree that Islamic finance should move from shariah compliant products to shariah based products?

Wed, Sep 01 - 2010

This is an extremely interesting thread initiated by Bryan Camoens on LinkedIn's Global Islamic Finance Resources. We will quote some of the most relevant contributions on Subject in a serie of updates.

You can also see the comments directly on LinkedIn's website

 

Bilal Abdulkader  01/09/2010

 [...]Right now they select some products and they islamise them. What is really needed is to develop financial products that are realy inspired by the PLS (Profit and Loss sharing). 

Mustafa Zaidan  01/09/2010

 [...] I may add that Islamic financing should move a step further by not only islamizing the remaining financing tools but also to concentrate on achieving the Sharia objectives ‘Maqased Alsharia’. As you may know, Islamizing the financing instruments and developing new profit generating financing tools is not the objective of the Islamic Sharia / Rules but it’s the tool to achieve the Sharia objectives focusing on the economic stability, the community growth, integriry, justice…etc  

Mohamed Ali  01/09/2010

 Mohamed Ali • We have to start with a blueprint of an Islamic Economy. A complete Structural Model that resonates with the Ethics and Socio Economic Objectives. Otherwise we will continue to Cut, Patch & Paste. 

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