The rise of Islamic finance proliferated the use of some concepts and practices that were previously unique to the Arabian Peninsula. The exibility of Shariah principles has enabled the harmonization of Islamic legal thought with new practices in modern contexts and to evolve according to the times. This is not to say, however, that the Shariah principles have been compromised. This article will briefly articulate factors that influuence the development of concepts and describe some examples of concepts that have been developed in Islamic finance.
ISRA THOMSON REUTERS ISLAMIC COMMERCIAL LAW REPORT 2016 (Pg 150 - 152)
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