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 […]

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 […]

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 […]

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 […]