London School of International Business (LSIB)

How can individuals apply the principles of Islamic finance in their personal and professional lives?

Islamic finance is a system of finance that operates in accordance with Islamic law (Sharia). It prohibits the payment or receipt of interest, as well as investing in businesses that are considered haram (forbidden).

Here are some ways individuals can apply the principles of Islamic finance in their personal and professional lives:

Personal Life	Professional Life
1. Avoiding interest-based loans and credit cards	1. Seeking out Islamic financial institutions for business financing
2. Investing in halal (permissible) assets such as real estate, stocks of Sharia-compliant companies, and Islamic bonds (sukuk)	2. Ensuring that business transactions are conducted in accordance with Islamic principles
3. Giving to charity (zakat) and engaging in ethical spending	3. Avoiding industries such as gambling, alcohol, and pork production

By incorporating these principles into their lives, individuals can align their financial practices with their religious beliefs and contribute to a more ethical and sustainable financial system.