Seven Prohibited Industries In Islamic Financial Investments Dummies

Seven Prohibited Industries In Islamic Financial Investments Dummies

The trading activities that Islam prohibits are those that are investments in forbidden sources such as anything dealing with alcohol or tobacco, gambling, certain food industries, adult entertainment, production of weapons of mass destruction, and cloning. There is also an element of intent when it comes to trading activities that are prohibited. Islamic Finance For Dummies Cheat Sheet. Islamic finance is a global financial system that complies with sharia (Islamic law) — a code of conduct that guides all aspects of Muslim life. Sharia prohibits certain elements that are common in conventional finance, such as interest and speculation. Islamic Finance (IF) refers to engaging in financial activities according to the prescri ptions of Shariah Law (SL) (Divine Law). SL provides instruction to Muslims in all areas of their life personal and social including their carrying out of financial transactions.