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Ethical aspects of Islamic banking and finance: A brief understanding
The Islamic financial system is largely different from conventional system in the sources of their ethical outlook and in many of their concerns. The Islamic financial system is built on a number of Shariah principles. These include the prohibition of a predetermined rate of interest (rina), the prevention of uncertainty (gharar) in contracts, and the prohibition on gambling (maysir).
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This article was first published in ISRA I-FIKR Digest Issue 06 September 2018