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Islamic Financial Planning Towards Sustainable Eco-Growth

In: Islamic Economies

Author

Listed:
  • Mohd Ma’Sum Billah

    (King Abdul Aziz University)

  • Buerhan Saiti

    (International Islamic University Malaysia (IIUM))

Abstract

Financial planning is undeniably important from an Islamic perspective; Muslims must be rich not only spiritually but also materially. This chapter discusses the importance, components, and processes of Islamic financial planning and the means of achieving the goals set out in a financial plan. Three major instruments, such as wasiyah(bequest), waqf (endowment), and hibah (gift), are recommended as financial products used by financial institutions and professional organizations that can help Muslims meet their individual needs when it comes to managing and enhancing their financial plans.

Suggested Citation

  • Mohd Ma’Sum Billah & Buerhan Saiti, 2017. "Islamic Financial Planning Towards Sustainable Eco-Growth," Palgrave CIBFR Studies in Islamic Finance, in: Nafis Alam & Syed Aun R. Rizvi (ed.), Islamic Economies, chapter 2, pages 9-27, Palgrave Macmillan.
    • Handle: RePEc:pal:pcichp:978-3-319-47937-8_2
    DOI: 10.1007/978-3-319-47937-8_2
    as

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