However, in this fast moving world, more than 1400 years after the Prophet (s.a.w.), can Muslims find room for the principles of their religion? The answer comes with the fact that a global network of Islamic banks, investment houses and other financial institutions has started to take shape based on the principles of Islamic finance laid down in the Qur'an and the Prophet's traditions 14 centuries ago. Islamic banking, based on the Qur'anic prohibition of charging interest, has moved from a theoretical concept to embrace more than 100 banks operating in 40 countries with multi-billion dollar deposits world-wide. Is

MCCA's objectives is to build up funds available for investment to $45 million; to educate and train on the concept and operations of Islamic Finance aiming to qualify at least 10 Muslims in managing and operating an Islamic Financial Institution: 5 in Victoria, 3 in NSW and 2 in WA; to open 3 branches for MCCA : 1 in Victoria, 1 in NSW and 1 in WA; and to establish and develop an institutional framework aiming for the best possible utilisation of charitable funds into economically productive and socially beneficial structure.

2) Musharaka or Partnership: which is mainly in housing finance. The relationship between us and the house buyer is partners in the house. It is not a creditor to a debtor type of relationship, where the bank takes mortgage and puts the sword on the neck of the occupant saying: "you pay or else we kick out of the house." We don't sacrifice the security because our name will be on the title together with the buyer but we also give the buyer security that he or she will not be kicked out of the house in case of inability to pay us.

Some topics in this essay:
Iktina Equivalent, Murabaha Islamic, Accordingly Islam, Risk Speculation, Briefly Islamic, Hassan Fund, Shari'ah Islamic, Vehicles Islamic, Zakat Charity, Musharaka Partnership, islamic finance, islamic banking, islamic banks, share profits, business ventures, islamic financial, islam encourages, islamic bank, islamic law, profits losses, organisation usa canada, foreign exchange transactions, keeping money idle, purchasing power money, islamic financial institution,