Blog

13 Jun 20

TIME VALUE OF MONEY IN ISLAMIC PERSPECTIVE

This question often comes to our mind that Why is Usury (Riba) haram when the Creditor is at a loss if we take into account the concept of Time Value of Money I.E The value of money which the creditor is lending would not be the same at the time when he would receive his […]

14 Mar 20

The Basics of Islamic Banking

Banking and issues related with it: A bank is an institution which creates current demand deposits or in simple terms money. A refined banking solution is the core backbone of the monetary network of any country. However traditional banking tends to rely heavily on the interest generated from clients through lending money to different types of […]

11 Mar 20

Financial Crisis: An Islamic Perspective

The Holy Qur’an says: “so that it may not circulate only between the rich among you.” (59:7) Mufti Taqi Usmani in his address to the World Economic Forum at Davos 2010, presented a paper, titled “Post-Crisis Reforms: Some Points to Ponder”, referring to the 2007-2008 financial crises that shook the world , in which he […]

23 Jan 20

In the Pressing needs of the modern world, it is necessary to understand that consumers demand Transparent ways of dealing which can be done with BlockChain.

Today Blockchain has become a business focus for organizations in a wide range of industries, from energy and health care to government, entertainment, and insurance. And as blockchain implementations grow in scope, scale and complexity its more critical than ever to understand its structure and to develop holistic strategies to help them get the most […]

20 Jan 20

Blockchain: Application & Opportunities for Islamic Financial Industry

IBA CEIF in collaboration with Usmani & Co, is pleased to announce a Product Development and Shariah Compliance Forum session on “Blockchain: Application & Opportunities for Islamic Financial Industry” by Sharjil Ahmed. For free registrations please visit: https://forms.gle/o1Uea1CGfQnTRbGt9 #islamicfinance #islamicbanking #usmaniandco #iba #blockchain #education #CEIF #UsmaniCo #Workshop #IBACEIF

13 Nov 19

Food Supply To Muslim Countries On Fair Market Prices

Grains, particularly wheat is one of the most important necessity for human beings. When gold and silver coins or currency did not exist in ancient times, people used to trade these though barter. Therefore, when Prophet (peace be upon him) prohibited loan/credit in silver and gold and their exchange of homogeneous with excess or premium and it was considered as Riba being used as currency their quality was irrelevant because of their intrinsic value at that time, similar to the gold and silver the Holy prophet SAW prohibited exchange on in equal quantity of some other commodities like weat /grain, barley, dates, salt, as they were used as medium of exchange in the ancient era of barter and were considered as gold and silver and the qualities also were considered irrelevant while exchange homogeneously in excess was also considered as RIBA. Because they could serve as a medium of exchange, such as gold, silver.

30 Oct 19

Press Release: Islamic Finance and Food Security: Connecting Russia and Muslim Countries

Usmani & Co (UCO) is proud to be part of this project as Shariah advisors for the betterment of the greater good. On 3 November 2019, the HSE-Skolkovo Institute for Law and Development will hold the special session and present the Agrofinmost project at the 14th international AAOIFI-World Bank conference on Islamic banking. The […]

26 Mar 19

Introduction of Islamic Economics

[vc_row][vc_column][vc_column_text]One of the forms of capitalism, that has been flourishing in non-Islamic societies in the world is the interest-based investment. There are normally two participants in such transactions. One is the investor who provides capital as on loan against interest and the other is the manager who runs the business. The investor has no concern […]

07 Jan 19

Why Meezan Bank Stands out as the Best Bank in Pakistan.

“The Shariah board of Meezan bank is happy and proud to learn that Meezan bank has won the Best Bank for 2018 in the Institute of Bankers Pakistan (IBP) 3rd Pakistan Banking Awards. This is not only a great achievement for the shareholders, management and customers of Meezan Bank but also for the global Islamic […]

11 Dec 18

Islamic finance back on solid growth track

New territories, new & innovative capital markets, development & adoption of sector specific financial technology driven a growth of Islamic finance. Emerging Islamic finance markets shows improvements in financial & supporting ecosystems. Digital revolution transform the Islamic banking sector, Fast-growing startups focusing on a broad range of fin-tech solutions of Islamic banking. Digital banking channels, […]