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Islamic Banking and Finance
- david_allison 5y agoThe article doesn't mention the Hijri (Islamic) calendar: if a bank decides to use it, the length of months and number of days in a year are variable, dependent upon the visibility of the moon.
- teleforce 5y agoFun fact, all of the contracts in the UK before 1925 was based on sidereal lunar month at exactly 28 days or 48 weeks a year. Another fun fact, after 300 years the actual difference between synodic lunar calendar for Hijri and synodic solar calendar is 9 years or approximately 11 days per year[1]. This time difference in years is recorded in the Quran (Chapter 18 Surah Al-Kahfi or The Cave) regarding the story of the seven sleepers in the cave of how long they have slept. Strangely the Quran provided exactly how long they have slept but not precisely the number of the sleepers and mentioned that their exact number only known to God. Yet another fun fact is that the story is not revealed in any holy books (Abrahamic religions or not) except in the Quran. According to the Quranic tradition it was the answer to the questions suggested by the Jews of Madinah (Yathrib at the time) to their Meccan allies in order to test the veracity of the Muhammad prophethood. [1]https://sciencing.com/difference-between-solar-lunar-years-8513472.html https://sciencing.com/difference-between-solar-lunar-years-8...