A system of finance that is bound by religious laws that prohibit the taking of interest, with several techniques for profit-sharing and ethical investment.
Shirkah refers to an essential concept in Islamic finance, embodying the idea of partnership and collaboration where two or more parties share profits and losses from a venture according to an agreed ratio, underscoring principles of risk-sharing and fairness.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.