Abstract
In Islamic Financial System, there are certain guidelines and rules that the organizations have to follow. As far as this chapter is concern, we only discuss on two types of financing mode which are Islamic Investment and also Insurance (Takaful). Islamic investment can be in the form of unit trusts, securities such as shares and Islamic bonds and so on. As mentioned before, there are several principles that the organizations have to comply with. In the Islamic Investment, the transactions or activities must be dealt with the ethical sectors only. Ethical sectors means that when the organization make an investment, they have to invest their wealth in a permissible activities. This is because the profit that they are going to earn should not come from the unlawful activities such as gambling, production of liquor, pornography and etc.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Reference
Takaful Act. (1984), at S. 8(5)(b), repealed by the Islamic Financial Services Act (2013).
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2019 The Author(s)
About this chapter
Cite this chapter
Billah, M.M. (2019). Islamic Financial Planning. In: Islamic Financial Products. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-17624-2_26
Download citation
DOI: https://doi.org/10.1007/978-3-030-17624-2_26
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-17623-5
Online ISBN: 978-3-030-17624-2
eBook Packages: Economics and FinanceEconomics and Finance (R0)