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Islamic finance must move from personality to institutionalisation

The Islamic finance industry must put in place well-planned and transparent succession programmes to reduce the risk that is a result of reliance on key people

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Content of Umex Event will be update shortly.

What is Sharia?

Sharia (meaning "way" or "path") provides guidelines as to the requirement by which Islamic life should be conducted; this includes standards for food, family life, and business as well as daily financial dealings and transactions. The restrictions of Sharia such as the prohibition of investing in companies involved in alcohol, tobacco and gambling mean that there is a very close association between Sharia investment and ethical investment.

Additionally Sharia finance prohibits Riba - (Usury - or interest), whereas the sharing of risk and rewards in financial transactions is encouraged.

Islamic Glossary

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