S&P Shariah Index Methodology

In 2006, Standard & Poor’s introduced the S&P Shariah indices. Shariah is Islamic canonical law, which observant Muslims adhere to in their daily lives. Shariah has certain strictures regarding finance and commercial activities permitted for Muslims. Over the last few years, the demand for Shariah compliant financial products has increased.

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Theory of Profit: The Islamic Viewpoint

Much of the literature on Islamic economics in the realm of distribution has so far been mainly concerned with questions relating to interest. Rent and, at times, wages have also been discussed. But the subject of profit continues to remain in a state of almost total neglect. References to it have made occasional appearance in the discussions on mudarabah or the principles of trade. The present paper, therefore, makes a preliminary attempt to look at profit theory from the Islamic viewpoint.

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