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Islamic Finance




Akl Amwal al-Nas bil Batil


An Arabic term (أكل أموال الناس بالباطل) that translates as unlawful acquisition of wealth (mal) or unjust enrichment. It describes a process of illegal wealth acquisition through different means such as qimar, riba, bribery, theft, fraud, etc. It is mentioned in the Holy Quran (literally, “eating or usurping someone else’s property unjustifiably or illegally”) and is strictly forbidden by shari’a.



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The last three decades have witnessed the modern rebirth of Islamic finance both in terms of literature and practice. Islamic banks and ...
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