Charging interest for loans is deemed riba, or an unjust, exploitative gain, and is forbidden under Islamic law. In Islamic finance, riba refers to interest charged on loans. Religious practice ...

In a significant move towards the future of Islamic finance, BankIslami has launched 'Aik', Pakistan's first fully digital Islamic banking solution. Designed to deliver seamless, Shariah-compliant ...

In traditional Forex trading, positions held overnight often incur swap fees or interest charges, which are prohibited in Islamic finance as they fall under riba (interest). To accommodate Muslim ...

In Islamic finance, the term riba (usury or interest) refers to charging or accepting interest on loans or debts. The practice is strictly prohibited and considered haram (forbidden) in Islamic ...