Publication
29 Jul 2008
Islamic finance is based on principles of shariah, or “Islamic law.” Major principles of shariah are a ban on interest, a ban on uncertainty, adherence to risk-sharing and profit-sharing, promotion of ethical investments that enhance society, and asset-backing. Critics of Islamic finance express concerns about possible ties between Islamic finance and political agendas or terrorist financing and the use of Islamic finance to circumvent US economic sanctions.
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English (PDF, 6 pages, 81 KB) |
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Author | Shayerah Ilias |
Series | US Congressional Research Service Reports |
Publisher | Congressional Research Service (CRS) |