FOR IMMEDIATE RELEASE:
SoftwareWithoutSin announces new Islamic Computing Systems Standards for Islamic Finance
TAGS: #ISLAMICFINANCE, #GREATERSIN26, #SOFTWAREFRAUD, #ShariaCompliance
Islamic Finance (إسلامية مصرفية) has gotten a lot of attention, but Computing, the “work done by Software, an intellectual property in and of itself, is also controlled fully under mechanical controls Shariah provides for the business processes as well. Whether its Sunni or Shia, all of Islam is tied to the construct of Haraam and its toxicity to the Soul. This is a key factor in how we think.
ISLAMIC BANKING: We all agree The term “Islamic banking” refers to a system of banking or banking activity that is consistent with Islamic law (Shariah) principles and guided by Islamic economics. The same is true for Islamic Finance (إسلامية مصرفية).
ISLAMIC COMPUTING: We have expanded this concept to include IslamicComputing as well. This pertains to the ‘whole picture’ not just the applications, and as such is a complete commerce model which includes all the ‘worker-bee’ or work-horse components which most existing Fatwa take for granted.
Shariah as applied to Commerce, Finance, Banking and the IT infrastructure they run on
For them, Shariah and its implementation requires a level of transparency which is critical for the larger processes it puts forth as its value-proposition (transparency, greed-limited, open, etc) and are implemented through Mudarabah (Profit and loss sharing), Wadiah (safekeeping), Musharaka (joint venture), Murabahah (cost plus), and Ijar (leasing) as well as other methods.
Shariah also prohibits riba, or usury, defined as interest paid on all loans of money, but today Computing often mixes Computing Environments and this is no where more true than in Cloud Computing.
Haraam, Riba and compartmentalization in Cloud, CAAS and related VM Systems
And so being able to properly isolate an operating context and processes provide this. This further extends into a conscious stream of Sharia-Instance Proofs for Computing Instances, both in the Audit Context and in the Evidence and Isolation Chain. See our IslamicCOMPUTING page for more info.
Haraam and computing
While it will sound ludicrous at first, there are computer programs which are executed which will directly violate Shariah by their very execution. That makes the execution of them a Haraam event. Dirty Code or executing clean-coded inside a Dirty Virtual Computing Environment would make the work product of that computing instance Haraam. It would be as toxic as if it were composed of “unclean meat and alcohol”.
All interesting thoughts – and ones which create a proper operating process which isolates pure computing from dirty computing, something no one is really focusing on yet but surely will come into play anytime…
#SoftwareFraud #MoneyLaundering #AML #GreaterSin26 #IslamicCommmerce #IslamicComputing #ShariaCompliance #FinancialTransparency