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islamic finance

Subject :

A Balancing Act: Weighing Out the Risks of Marketing with Non Shariah Compliancy

keyword :

Marketing, Branding, Risk Management, Halal, Islamic Finance, Islamic Banking, Riba, Shariah Compliant Products

Description :

In this edition of the Marketing and Branding Series Global Islamic Finance Magazine is going to take you through the analysis and comprehensive outlook of marketing Islamic financial products and services without falling into the risk of non Shariah compliancy. It can often be a crucial balancing act for Islamic financial institutions to effectively sell and market their products without compromising the principles set out by the Shariah. Islamic financial experts, learned individuals and professionals know that Islamic finance does not divulge into non- halal investments such as the gambling, alcohol, or any other form of inappropriate entertainment that is not considered to adhere to the principles of Islam. Therefore Islamic banks and financial institutions have to carefully select projects, investments and advertising which do not endorse any of the above prohibited investments. Conventional banks however may endorse their products with such industries and obtain revenue solely from non Shariah compliant avenues. Islamic finance follows the principles of Islam and in order for the investment to be Shariah compliant it should be a pure and halal project.

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