New Zealand has been named the country that most fits Islamic ideals for the second year in a row, but the area of everyday finance is still difficult for Muslims, says a financial commentator.
In the 2019 Islamicity index, released earlier this year, New Zealand is ranked first overall, followed by Sweden, Iceland, the Netherlands, Switzerland, Denmark and Ireland. The top Muslim-majority country is United Arab Emirates (UAE) at 44.
New Zealand ranks 3rd in terms of its economy, 4th for legal and governance, 5th for human and political rights, and 8th for international relations.
According to Islam, the use of money for the purpose of making money is forbidden, meaning the concept of interest is not allowed. Wealth must be generated from legitimate trade and asset-based investment, and investors are also required to invest in things with social and ethical benefit.
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