Islamic Finance For Dummies

Chapter 2

Getting to Know Islam and the Role of Sharia

In This Chapter

Touching on the history, beliefs, and pillars of Islam

Understanding why Muslims rely on sharia to guide their conduct

Recognizing the objectives and sources of sharia

Your study of Islamic finance can’t progress very far without a familiarity with at least the basics of Islam because some of the religion’s tenets are the cornerstone of the industry. So I’ll start with the basics: Islam is a monotheistic religion and a way of life based on the holy scripture called the Quran and the teachings of Prophet Muhammad (pbuh).

Note that pbuh stands for peace be upon him. Islamic tradition calls for this phrase to follow each reference to the name of a prophet, including the Prophet Abraham, the Prophet Moses, and Prophet Jesus (pbuh to all).

In this chapter, I introduce you to some core information about the religion, such as its followers, origins, sources, and basic beliefs. I also explain where Muslims go for guidance on how to best uphold Islamic law.

If, after reading this brief introduction to Islam, you want ...