Islamic Finance: An Introductory Course. Part-1 (Miller-Modigliani Theorem)

For Muslims, this is an intriguing conclusion. Banks, the source of so much riba, would be really quite useless if the tax rules for dividends and interest were either uniform (i.e. tax deductibility on both) or if there were no tax (like in an Islamic state). So, if perfect market symmetry existed, say in Dubai (where there is no tax), theoretically debt would add no value. Had we had no debt, wouldn’t we have been so much better financially in the world these days??

Economic Crisis and Wisdom of Islamic Regulations – Yaser Birjas

Khutbah: Lessons From The Current Financial Crisis

Lessons from the financial crisis we are seeing.