MELBOURNE, Australia, April 27, 2022 (GLOBE NEWSWIRE) — International finance experts report that Islam finance is the solution for a stabilised, healthy global economy. Halal home loan experts Hejaz Financial Services explain how Sharia financial services are the way forward for a balanced, thriving economy.
Hejaz Financial Services explains that Islamic finance – especially in comparison to socialist and capitalist economic systems – promotes a just, equitable distribution of wealth, creation of wealth and set of wealth protection regulations. These principles are upheld by the building blocks of Islam: The Quran, Sunna, Ijma and Qiyas. These outline the fundamentals that Islamic finance is built upon, which include zero interest, asset-backed financing and justice. These fundamentals, says Hejaz Financial Services, ensure effective distribution of wealth. This is essential for the sustainable development of any economy.
According to the Sharia loans experts at Hejaz Financial Services, recent figures have revealed that Islamic finance markets are growing at a much greater rate than more advanced economies. While economies such as the US and Japan have seen growth of 1.5 percent on average, Islamic economies in locations such as Turkey, Pakistan and Malaysia are projected to experience an impressive 4-5 percent growth. These figures are only set to grow as the billions of Muslims around the world – as well as non-Muslim consumers looking for ethical financial services – increasingly turn their interest toward Halal loans and other Sharia approved financial services.
Being an economic structure that cares about the weak and vulnerable in the community, many experts firmly believe that Islamic finance could be the path forward for a sustainable, balanced global economy. Hejaz Financial Services points out that as the backbone of any society, the economy needs to be able to see continual growth without its strength or inclusivity being compromised. For more…