In the realm of Islamic finance, the term caiz holds profound significance. It embodies principles that guide financial transactions for millions of individuals adhering to Islamic law, or Sharia. Understanding what caiz entails is pivotal for both Muslims and non-Muslims engaging in Islamic finance. So, let's delve into this concept to unravel its essence and implications.
What is Caiz?
Caiz, originating from Arabic, translates to "permissible" or "allowed." It signifies financial activities and investments that align with Sharia principles, avoiding elements such as interest (riba), uncertainty (gharar), and gambling (maysir). In essence, caiz delineates what is ethically and legally permissible in Islamic finance.
The Foundation of Caiz
At its core, caiz reflects the values and ethics prescribed by Sharia. It stems from the Quran and Hadith, serving as a guide for Muslims in their financial dealings. The principles of fairness, transparency, and risk-sharing underpin the concept of caiz, fostering economic activities that benefit society while adhering to Islamic principles.
Website:
https://caiz.com/