Author Credit:This blog is adapted from an article by Muhammad Rizwan-ul Haque, Founding Chairman of Dawood Family Takaful, CEO of an Investment Bank, and Director of a Trust. The original article was published on December 15, 2015. Introduction Banking is one of the most important pillars of the modern financial system. Banks accept deposits, provide financing, facilitate payments, and channel capital into different areas of the economy. But behind these familiar functions l

Author Credit: This blog is adapted from an article by Muhammad Rizwan-ul Haque, Founding Chairman of Dawood Family Takaful, CEO of an Investment Bank, and Director of a Trust. The original article was published on July 24, 2015. Introduction Economics is built around a simple reality: resources are limited, while human needs and desires are virtually unlimited. Because resources are scarce, individuals, businesses, and financial institutions must constantly decide where to a

Author Credit: This blog is adapted from an article by Muhammad Rizwan-ul Haque, Founding Chairman of Dawood Family Takaful, CEO of an Investment Bank, and Director of a Trust. The original article was published on August 3, 2015. Introduction Money plays a central role in every modern economy. It facilitates trade, allows businesses to operate efficiently, and enables people to exchange goods and services without relying on barter. But as the nature of money has changed—from

Author Credit: This blog is adapted from an article by Muhammad Rizwan-ul Haque, Founding Chairman of Dawood Family Takaful, CEO of an Investment Bank, and Director of a Trust. The original article was published on August 5, 2015. Introduction One of the most common questions in discussions on Islamic finance is whether only excessive interest rates are prohibited while lower rates are acceptable. Some argue that charging a small percentage of interest is reasonable and econo