Understanding Islamic Financing
by Connie Martin
Recently, there has been a wave of options for Muslims to access riba-free Islamic financing, though many Muslims still have a vague understanding of how the process works. Amjad Quadri, Vice President of New Markets and Business Developments with University Islamic Financial, was the Mosque Foundation's special guest speaker on January 21st to shed some light onto this often misunderstood topic. Mr. Quadri addressed the Islamic prohibition of riba (usury or interest) and presented a brief explanation of the acceptable loan transactions based on Islamic principles called Ijara, Murabaha, and Musharika.

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