Abstract
Holistic Practice of Fiqh Al-Muamalat: Halal Accountability of Islamic Microfinance Institutions
Highlights
Islamic financial system has gained world communities', the Muslim or non-Muslim, recognition as a unique and universal system organizing goods and services [1]
Islamic financial system adopted in Islamic financial institutions is unique, acknowledged by people around the world, and perceived to excel in the conventional financial system
The basic reason for that is because the Islamic financial system follows universal and ethical Islamic sharia
Summary
Islamic financial system has gained world communities', the Muslim or non-Muslim, recognition as a unique and universal system organizing goods and services [1]. The operational success of Islamic financial institutions has proven that a new financial intermediation model can survive, as well as excel conventional model [2]. It is perceived as an ethical project [3]. That is because the Islamic financial system is based on sharia principles that do not discriminate religious and other life aspects [4]. Islamic law encompasses all human behavioral aspects, including commercial business transactions [5]. In the Islamic economy, humans are required to perform productive activities that bring positive
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