Islamic Financial Institutions

Islamic Financial Institutions operate according to Islamic law (Sharia), which prohibits practices such as charging interest (riba) and investing in activities considered haram (forbidden). Instead, these institutions emphasize risk-sharing, asset-backed financing, and ethical investments. They offer products like profit-sharing accounts, leasing agreements, and Islamic bonds (Sukuk), which align financial transactions with Islamic principles. The aim is to promote fairness, transparency, and social justice in financial dealings, enabling both individuals and businesses to manage their finances in accordance with their faith while contributing to the broader economy.