
Ashraful Khalq
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Zakāt, the third of the five pillars of Islam, is a systematic philanthropic norm that survives even after the centuries of its formulation without any drastic changes. For ensuring social and economic justice, Islam has envisaged various methods of wealth redistribution, and Zakāt constitutes one...
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In a conventional insurance system, usually, a single model is followed; the insurance firm will sell policies for pre-determined premium, and the collected premiums will be invested in some assets. The return from the investment will be used for repaying the claims as well as other running expenses....
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