Instruments that Facilitate Islamic Financing

  • Mohd Ma’Sum Billah


A non-Islamic government will have no problem as it may always resort interest-bearing credit. However, a government of the people who are keen to remain within the realms of Shari’ah needs and alternate. It is a part of our faith that Islam is suitable for every time and every place because it is the final message for all humanity. It is only because of lack of effort on our part that appropriate Islamic solutions are not found. The purpose of this chapter is to thoroughly examine the framework for musharakah and other financial instruments of the Islamic banks.


  1. Ghifari, N. M., and Muzaffar, M. (n.d.). Ijarah and Islamic Modern Application. Paper Presented at the Seminar on Islamic Financing Technique, Islamabad, pp. 11–12.Google Scholar
  2. Homond, S. H. (n.d.). Islamic Financial Instrument Based on Intermediary Contracts, p. 229.Google Scholar
  3. Islamic Fiqh Academy Resolution No. 5, para 7, issued in respect of Muqaradah bonds and investment certificates in the fourth session of the Academy held in Jeddah during the period 18–23 Jumada II, 1408H (corresponding to 6–11 February 1988).Google Scholar
  4. Osman, R. A. (n.d.). Islamic Financial System, p. 18.Google Scholar
  5. Osman, R. A. (n.d.). Islamic Financial System, p. 20.Google Scholar
  6. Usrah Module. (n.d.). Muamalat, IIUM, p. 30.Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Mohd Ma’Sum Billah
    • 1
  1. 1.Islamic Economics InstituteKing Abdulaziz UniversityJeddahSaudi Arabia

Personalised recommendations