Islamic law, also known as Shariah, provides comprehensive guidance on financial ethics and responsibility, emphasizing fairness, justice, and compassion. Key principles include:
*Financial Ethics:*
1. Prohibition of Riba (Interest): Islam forbids earning or paying interest.
2. Prohibition of Gharar (Uncertainty): Transactions must be transparent and free from ambiguity.
3. Prohibition of Maysir (Gambling): No speculative or harmful financial activities.
4. Halal (Permissible) Income: Earnings must come from lawful sources.
5. Zakat (Charity): Obligatory
Babar Iqbal Answered question October 31, 2024