Islamic finance is one of financial services’ fastest developing sectors, growing at 10-12% annually in many Muslim countries. Islamic finance seeks to distinguish itself from conventional, interest-based finance by promoting ethical and socially-responsible investments and raising, using and lending capital in accordance with Shari’a, or Islamic law.
Islamic commercial jurisprudence prohibits:
- Interest on loans or securities
- Speculation
- Uncertainty in certain contractual terms
- Anti-social business activities
