Come 1st April 2015, the Goods Service Tax (GST) will be in full force. The financial service industry, including Islamic finance is also impacted by the GST. Officially, GST is a consumption tax that is imposed ...

Bearing in mind that interest-rate benchmarking is not prohibited in Islamic finance, it is timely to raise the TVM issue. Apparently no explicit fatwa is available to address this matter, except for some dalils quoted in the middle of ...

At the recent industry talk at INCEIF on Sukuk, a student asked the speaker Prof. Datuk Rifaat Abdul Karim about interest-rate benchmarking.  In reply, he said that there is no issue about the interest-rate benchmarking.  It is ...

Risk-sharing is a well-known principle in Islamic finance, which predominantly deals with equity-based transactions, namely mudaraba and musharaka.  While it is practically absent in the banks’ financing instruments, risk-sharing has been around in the Islamic deposit market for ...