Chapter 1: An introduction to Islamic finance
- Define Islamic finance, whether in the form of banking, insurance or capital market segments.
- Describe the salient features of Islamic finance, comprising interest-free transactions, uncertainty-free transactions, profit and loss sharing and the economic and monetary functions of money.
- Illustrate how these features require the provision of different financial products to those supplied through conventional finance.
- Explain how Islamic finance can satisfy financial needs without violating religious prohibitions.