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Waqf, in plural awqaf, is defined as a perpetual endowment. It is an Islamic charitable endowment and an essential component of Islamic social finance. Creating a waqf involves setting aside certain…

Multilateral development institutions have been engaging with Islamic finance through a broad range of activities, including financing, Sukuk, technical assistance and research. There are examples…

The key components of the Shariah governance framework include a Central Shariah Board at the national or regulatory level, and a Shariah Supervisory Board and the Internal Shariah Department at the…

One avenue in Islamic social finance for longer-term investments is an impact investment fund or “social impact investment fund”. Impact investment funds are investments that explicitly…

Sadaqah is a charitable giving and is a non-obligatory amount of money paid to help the needy and the poor. Anyone has the ability and willingness can do so, and there are no rules applied to it…

Qard hasan (good loan) is given without expecting a return by the creditor with the pure intention of helping the debtor. Since Qard hasan is a gratuitous contract, no profit should be gained from…

Sukuk, is one of the most important Islamic capital market instruments. According to the Shariah Standards published by the Accounting and Auditing Organization for Islamic Financial Institutions,…

Islamic banks and conventional banks have different characteristics. One of the distinguished elements is the relationship between the bank and the customer. In an Islamic bank, the relationship…

Ijara refers to leasing whereby the ownership of a usufruct of an asset is transferred to another person for a specified period in exchange of a specified consideration known as rent. This video is…

There are two types of contracts in Islamic banking and finance, which are sale-based (exchange-based) contracts and investment based (equity-based) contracts. Sale-based contracts include murabaha,…

BMT, Baitul Maal wat Tamwil, is an Islamic microfinance institution that originated in Indonesia. Its Baitul Maal unit runs the social function and manages the Islamic social funds such as zakat,…

The contribution of Islamic financial institutions to environmental and social goals would partly depend on how the broader goals of Islamic law are conceptualized and implemented. Promoting the…

Islamic Relief works in over 40 countries – fundraising in the global North and implementing humanitarian and development projects in the Global South, including microfinance in 10 countries in…

A number of self-regulating and standard-setting bodies have been formed to help the consolidation of the Islamic finance industry, as part of its institutional development. This video is licensed…

In addition to Islamic banking based on retail offerings, various financial institutions have emerged to respond to the ever-growing financial needs of the Muslim societies and to the hybrid products…

The objective of Islamic finance is expressed by the higher ethical objectives of Islamic law (maqasid al-Shariah) which emphasizes the well-being of all stakeholders along with society in general.…