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Knowledge Centre

The meanings of Islamic finance have been investigated within various disciplines, including philosophy and ethics. However, a more profound investigation may show that commercial and financial contracts between people permitted by Islamic law mirror the 'commercial' contract Allah makes with humanity. Indeed, according to Qur’an 2:282, human souls are loaned from Allah for a fixed period of time and He buys them back from the believers in return for heaven

A thorough semantic and epistemological investigation is therefore required to show, inter alia, what usury (ribà) really means and why only the Lord (rabb) is allowed to deal with it. Similarly, why the words for debt (dayn), religion (dīn), and Judgment Day (yawm al-dīn), all come from the same root. Indeed, the understanding of the deeper and spiritual meanings of the rules is necessary for a proper understanding of the commercial and financial contracts between people

ASSAIF has established a Knowledge Centre with the view of delving into these issues and, besides, creating an ontology of Islamic finance. In its endeavour, it is partnering with universities, research and capacity-building centers, news agencies and professional bodies

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Piero della Francesca, ‘La città ideale’, Italy XVI century