The Nature of Islamic Finance
Islamic jurisprudence has demonstrated over the centuries its ability to adapt to any time or place, meet any challenge, and overcome any obstacle. This is because it is rooted within principles derived from the Qur’an and Sunnah. While these principles are stable and secure, they are by no means rigid and stiff. To the contrary, they are flexible and applicable to real-life scenarios of all kinds. Islamic jurisprudence is like a tree; firmly grounded and unshakable, yet its branches reach far and wide into the sky, providing shade and fruits to all those around it. The evolution of Islamic Finance is an example of this adaptability. This article explores the inception of Islamic Finance and its nature. Subsequent articles will discuss the principles that govern Islamic Finance and a practical application of these principles on Islamic Finance products. In doing so, this series of articles will show the genius of Islamic scholarship in the last century.
