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What is Islamic Finance

Economics, Business, and Islamic Finance in ASEAN Economics Community
Corporations in the Muslim world, including banks and other lending institutions, raise capital in accordance with Sharia, or Islamic law. It also refers to the types of investments that are permissible under this form of law.
Published in Chapter:
Financial Accessibility and Small-Medium Enterprises (SMEs) in Malaysia: The Role of Crowdfunding and Islamic Finance
Mohamed Asmy Bin Mohd Thas Thaker (International Islamic University Malaysia, Malaysia), Hassanudin Bin Mohd Thas Thaker (Sunway University, Malaysia), and Choong Pai Wei (Sunway University, Malaysia)
DOI: 10.4018/978-1-7998-2257-8.ch015
One of the common problems faced by worldwide SMEs including Malaysia is accessing external financial services. Given this fact, this chapter offers a sustainable model of source of financing for Malaysian SMEs in meeting their financial need, which is known as Islamic Crowdfunding-Small and Medium Enterprises (ICSMEs) model. Authors review comprehensive literature by focusing on the issues of financial accessibility faced by Malaysian SMEs, and the existing studies relating to SMEs, crowdfunding, and Islamic finance in support to construct ICSME model. Authors discuss the modus operandi of the proposed ICSME model and offer several significances of the model.
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A New Financing Model in Banking Sector: Recommendations for Sukuk and Its Development in Turkey
The act of doing every financial activity and transaction within the Islamic rules and regulations.
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Big Data and Islamic Finance
Financial transactions that are compliant with Islamic teachings and law.
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The Role of Islamic Financial Product Innovation in Reduction of Financial Exclusion in Ethiopia
It is a financial system based on Sharia principles while providing financial services.
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Islamic Financial Inclusion: An Alternative Approach to Reach the Unbanked of Bangladesh
The alternative form of interest-free financing activities that comply with the rulings of Islamic Shari’ah .
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Strengthening Islamic Finance in South-East Asia Through Innovation of Islamic FinTech in Brunei Darussalam
Islamic finance is a financial system that operates according to Shariah (Islamic law) and is, therefore, Sharia h-compliant. Just like conventional financial systems, Islamic finance features banks, capital markets, fund managers, investment firms, and insurance companies. However, these entities are governed both by Islamic law and the finance industry rules and regulations that apply to their conventional counterparts.
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