Sharia Finance
I have been a bit silent of late, this is because I have been looking into finance schemes to help Hindu Kush in the next 5 years. After a lot of research I am applying to a sharia compliant fund which is part of the government's Start Up Loans scheme.
I have gone for a sharia compliant scheme partly because it reflects the values of the people who make cloth and clothes for Hindu Kush and partly because it is the only finance scheme for business that I could find which explicitly states social justice as part of its remit.
The Koran lays down certain guidelines with regards to banking, significantly it prohibits the charging of interest. According to sharia finance there are other ways for investors to realise profit, but these relate to a share of gains rather than fixed interest on a loan. Other elements of sharia finance as stated on the financing sharia enterprise are, "[A] requirement on those who make a profit through business to contribute towards those less well off, and the need to strive for a more equitable distribution of income and wealth and increase equity participation in the economy".
I have been a bit silent of late, this is because I have been looking into finance schemes to help Hindu Kush in the next 5 years. After a lot of research I am applying to a sharia compliant fund which is part of the government's Start Up Loans scheme.
I have gone for a sharia compliant scheme partly because it reflects the values of the people who make cloth and clothes for Hindu Kush and partly because it is the only finance scheme for business that I could find which explicitly states social justice as part of its remit.
The Koran lays down certain guidelines with regards to banking, significantly it prohibits the charging of interest. According to sharia finance there are other ways for investors to realise profit, but these relate to a share of gains rather than fixed interest on a loan. Other elements of sharia finance as stated on the financing sharia enterprise are, "[A] requirement on those who make a profit through business to contribute towards those less well off, and the need to strive for a more equitable distribution of income and wealth and increase equity participation in the economy".
