What is Takaful Insurance: Perfect guide for Islamic Insurance

Takaful insurance and conventional insurance

Takaful Insurance is a legitimate (Halal) alternative to conventional Insurance based on Islamic Finance principles. Takaful is an Arabic word derived from the word “Kafala,” meaning guaranteeing each other. The decision of the Islamic Jurisprudence Councils has established Islamic Insurance. Islamic Insurance is like a promise among a group of people in the Islamic way. …

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A Guide to Islamic Mortgage: 13 Islamic faith bank

Islamic mortgage

In Islamic finance, an Islamic mortgage is a financial arrangement that allows individuals to purchase a home while adhering to Islamic principles, prohibiting the payment or receipt of interest (riba) and promoting ethical and fair business practices. Commonly used structures for Islamic mortgages include: Islamic Mortgage structures Murabaha: Murabaha is Sharia compliance way when you …

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Calculating Khums: Best guide for understanding Islamic tax

Calculate Khums

Khums is an Arabic term which means one-fifth. Based on the Quran and various hadiths, it is referred to as profits, gains, earnings, property, and savings. Islamic tax is a particular term used in Islam, and it means ‘one-fifth’ or ‘20%.’ khums calculator (Click here) In simple words, it’s like giving away a part of …

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