Halal / Haram
Permissible vs. forbidden concepts in Islamic finance (and broader life).
Detailed Description
Halal / Haram
What do Halal and Haram refer to in Islamic finance?
Halal refers to permissible actions and transactions, while Haram refers to forbidden ones under Islamic law.
Why is the distinction between Halal and Haram important?
It guides ethical investment and consumption, ensuring financial dealings align with Islamic teachings.
What are some examples of Halal investments?
Halal investments include those in healthcare, education, and technology that contribute positively to society.
What types of investments are considered Haram?
Haram investments include those in alcohol production, gambling, pork-related products, and interest-based banking.
How does Islamic finance differ from conventional finance?
Islamic finance prohibits interest and focuses on ethical investments, while conventional finance often prioritizes profit maximization without ethical considerations.