Islamic Finance

By MAHMOOD SANGLAY The genocide in Gaza has exposed a grave fault line in Islamic finance: funds can exclude alcohol, gambling and interest yet invest in companies linked to occupation and warfare.  Can a portfolio be technically halal while enabling injustice today? The uncomfortable answer is yes...

MAHMOOD SANGLAY Across Nigeria, motorists travel on roads financed through sukuk, with capital tied to identifiable public assets. This link between money and infrastructure is moving Islamic finance from a faith-based niche to an African development tool. On a conventional government balance sheet, borrowing can look like...

By MAHMOOD SANGLAY As climate change accelerates and the search for ethical ways to finance the green transition intensifies, Islamic finance is emerging as more than a faith-based financial system. Three recent studies suggest it offers practical tools to mobilise capital, empower entrepreneurs and align economic growth...

MOGAMAT ALI SALIE First Abu Dhabi Bank’s legal victory in South Africa is about far more than trademarks. It could pave the way for one of the world’s largest Islamic banking institutions to enter Africa’s most sophisticated financial market, opening new opportunities for ethical finance, investment and...

MAHMOOD SANGLAY Family takaful promises long-term protection for dependants, education and retirement. Yet a landmark review finds that researchers know far more about consumers’ intentions than whether the industry truly protects underserved families. Family takaful is meant to turn mutual care into practical protection. Participants contribute to...

Mahmoud Bekri, left, and Mohyedine Hajjar warn that innovation without ethical oversight could instead automate bias and deepen financial exclusion.   MAHMOOD SANGLAY Takaful promises protection through mutual care, yet millions remain excluded and participants cannot always see how funds are managed. Could artificial intelligence and blockchain...

Islamic finance may ease the cost of pilgrimage, but the Saudi kingdom's Nusuk system is likely to result in exclusion. MAHMOOD SANGLAY examines who benefits when Hajj and Umrah are reorganised around digital control and commercial gain, and who loses. Hajj is not an ordinary journey and...

Shariah compliance changes more than what a fund may own; it also reshapes risk, diversification and returns. IMTIAZ SULIMAN explains what discerning investors should examine before entrusting their capital to a Shariah-compliant portfolio. Shariah-compliant investing is usually introduced as an ethical framework first and an investment discipline...

A halal label is only the beginning of responsible investing. MOGAMAT ALI SALIE explains why affluent Muslim investors must demand deeper portfolio screening, credible Shariah governance and accountable stewardship of their wealth. In South Africa today, it is relatively easy to find products that describe themselves as...

Can cryptocurrency meet the ethical and legal requirements of Islamic finance? MOGAMAT ALI SALIE explains why Mufti Taqi Usmani rules that today’s digital assets fail key Shariah tests, even as scholarly debate continues worldwide. Digital currencies such as Bitcoin, Ethereum and thousands of other crypto-assets have transformed...