New Horizon

(Issue 51)

Comment

Accountable to Islam

Feature Islamic Financial Instruments: Definitions and Types
Abdul Awwal Sarker
in the second and concluding part of this paper, discusses the nature of Islamic financial instruments that have already been introduced, and the possible instruments proposed by Islamic economists.
Islamic Instruments
Islamic Instrument Study Group: A Report
Dato' Sheikh Azmi Ahmad
, Mufti of the State of Pulau Pinang, Malaysia, discusses the establishment and functions of the Islamic Instrument Study Group (IISG) of the Securities Commission which he has chaired since its inception. This paper was delivered at the International Capital Market Conference in Kuala Lumpur.
Takaful
The Concept and Operational System of Takaful Business
At the family Takaful Forum in Jakarta, Mohammed Fadzli Yusof, explains why the concept of insurance does not contradict the Shariah, and that Islamic insurance should be based on the principles of mutuality and co-operation. He goes on to examine in detail how this concept of compensation and group responsibility works.
IIBI Forum

IIBI Shariah Scholars provide answers to questions and issues pertinent to Islamic banking

IIBI News

Report on Institutes Activities

News Monitor

New Horizon reports on recent developments within the Islamic financial world