Postcard from... the Middle East

Islamic property funds have grown as a popular means of Shari'ah investment. The key distinction between Islamic property funds and their traditional counterparts is the adherence to Shari'ah (Islamic law) principles. Islam forbids certain financial contracts due to inherent elements that render them Haraam (unlawful). The first relates to the payment or receipt of Riba (interest), which covers any financial return on money regardless of whether the interest is fixed or floating, simple or compounded, and at any rate. The second is Maysir (gambling); conventional insurance and derivatives w...