Islamic Banking

Islamic banking refers to financial activities that follow shariah, often known as Islamic finance or shariah-compliant finance (Islamic law). Sharing in profits and losses and forbidding lenders and investors from collecting and paying interest are two key tenets of Islamic banking.

Islamic banking is based on the principles of the Islamic religion as they apply to business dealings. The Qur'an, Islam's primary religious literature, is the source of Islamic banking's tenets. All transactions in Islamic banking must adhere to shariah, the Islamic legal code (based on the Qur'anic teachings). The fiqh al-muamalat are the regulations that control business dealings in Islamic banking.

Although it's a very popular trading method, huge financial organizations have primarily used it as a tool. The democratization of financial markets brought about by cryptocurrencies may present an opportunity for bitcoin traders as well.

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