Islamic Finance: Principles and Practices

Abstract

This scholarly article provides an overview of Islamic finance, exploring its principles, practices, and significance in the global financial landscape. It delves into the fundamental concepts of Islamic finance, such as Shariah compliance, risk-sharing, and prohibition of interest (riba), while also examining various Islamic financial instruments and institutions. The article discusses the growth and evolution of Islamic finance, its challenges and opportunities, and its potential contribution to financial inclusion and stability. Through a comprehensive analysis, this article aims to enhance understanding and appreciation of Islamic finance among scholars, practitioners, policymakers, and stakeholders in the financial industry.