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Paradigm means worldview, or the way people view the world and things surrounding it. An Islamic paradigm will be based on the primary sources of Islam’s belief system, which is the Quran and hadith (sayings of Prophet Muhammad).

In the last two decades, the discussion on Islamic economics has been circulating around academic circles. The discussion then evolved into the discussion on Islamic fi nance and moved beyond mere academic theory. Muslims have witnessed the growth of Islamic fi nancial institutions, not only in the Muslim world but also in the countries where they are a minority. The growth has been quite rapid in the last decade.

By Farouk Abdullah Alwyni

Islamic Finance News