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Islam & Business - Impact of Islamic Beliefs                        

This is truly from the religious perspective but objective is to highlight the religious element as it has a great impact on the business perspective and it will enable you to differentiate the two.

 

Also as Islamic Finance is closely related to middle-east and it is prudent get some basic understanding as the religion plays a strong part in their daily life and you will come across when you visit any of the Muslim countries.

 

Aquidah (Six articles for faith):

 

1. Belief in one God.

2. Belief in all the prophets from Adam, Moses, Jesus and Prophet Mohammed as the last messenger.

3. Belief in the books of faith, Torah, Psalms, Injil and Quran.

4. Belief in day of judgement and life after death.

5. Belief in Angels.

6. Belief in destiny.

 

 

These are essentially the religious practices that you will notice in most muslims:

 

1. Shahada, testifying that there is one God and Prophet Mohammed is his messenger.

2. 5 Daily Prayers

3. Ramadan - fasting from sunrise to sunset in the month of Ramadan

4. Zakat - giving 2.5% of ones wealth annually to charity

5. Hajj - this is pilgrimage to Macca if one can afford it.

Islamic Beliefs

The Five Pillars of Islam.