What is Islamic wealth management? Islamic wealth management refers to financial practices compliant with Islamic law, or Sharia. It emphasizes ethical investment and prohibits activities involving interest (riba), gambling (maysir), and excessive uncertainty (gharar). This approach promotes asset growth through permissible means, such as profit-sharing and equity investments. Islamic wealth management also focuses on social responsibility and the welfare of the community. It aims to align financial goals with ethical values and spiritual principles. The global Islamic finance market is estimated to be worth over $2 trillion, reflecting its growing significance. How does Islamic wealth management differ from conventional wealth management? Islamic wealth management differs from conventional wealth management primarily in its adherence to Sharia law. Islamic wealth management prohibits investments in industries deemed haram, such as alcohol and gambling.…