The foundational principles of Islamic finance include: 1. Prohibition of Riba (Usury): Interest-based lending, where money generates money without productive activity, is strictly forbidden in Islam.

Islamic finance is no longer a regional curiosity; it is becoming part of the structural foundation of global financial ...

Last year, the U.S. Treasury Department imposed sanctions on four individuals in South Africa for transferring money on behalf of the Islamic State, including to armed groups in Congo and Mozambique.

Al Rayan Bank, the U.K.’s largest Islamic bank, will pay £4 million, equivalent to about $4.9 million, for failing to maintain sufficient money-laundering protections, regulators said Wednesday.

By decentralizing money creation and eliminating the privileges of central banks, Bitcoin ensures a fairer distribution of wealth, addressing economic disparities that plague many Islamic societies.