Muslims’ In Business: Case Study Of Burkina Faso Muslim
The first fear during the 19th century period focused on the disintegration of moral values embedded in the development of capitalism and the pressure for accumulation and commoditization, Islamic thought had to describe “societies” functioning in its inner logic. Changing a society needs to view it as a social device and to understand its logic. With modern economy, new questions are posed such as: Are Muslims ready to face globalization and maintain their faith? Muslims in doing business are they swallowed by commercialism? Are Muslim obliged to act in business without thinking their acts, either they are halal or haram? Raison why Islamic finance is key sector in Islamic economy. In order to conduct as well as possible this research different methods and techniques are used such as interviews, meetings, discussions, and seminaries as focus group with some personalities involved in Islamic finance industry. From these investigations we found that some of Islamic finance products are known in Burkina Faso and some are proposed by the only one Islamic finance institution that is Coris Bank Baraka. It’s possible to distinguish two categories of financing techniques: those that are based on a participatory financing (Mudhâraba and Musharaka) and those based on an asset (Murabaha and Ijara). The Islamic financial industries products are suitable, it seems that the concept of free interest and respectful of the religion are important for consumers. Islamic finance windows and Islamic bank can conduct successfully shari’ah compliant products according the regulator (BCEAO), the literature review, and most of the leaders, we met in Burkina Faso.