What is Shariah Compliant loans? Meaning, Definition, and Example

Shariah-compliant loans are financial transactions that adhere to the principles of Islamic law, known as Shariah, which prohibits interest (riba), uncertainty (gharar), and unethical practices. The sources of Muslim law, which include the Qur'an, Hadith, Ijma (consensus), and Qiyas (analogy), guide the definition and structure of Shariah-compliant loans.

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The meaning of Shariah-compliant loans is that they are structured in a way that avoids interest-based lending and instead uses profit-sharing or asset-backed models, ensuring fairness and ethical dealings.

These loans align with the sources of Islamic law to provide financial solutions that are both lawful and just for Muslim communities.

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