While the National Treasury is considering issuing Islamic bonds and has asked interested banks to submit bids, some local banks and the JSE already offer Sharia-compliant financial instruments. These include the JSE Sharia All Share index and the JSE Shariah Top 40 (Tradeable).
Other instruments include Mudarabah, a form of investment partnership between banks and businesses that shares the risk and losses. There is also Murabah, a transaction in which the bank buys the asset then immediately sells it to the customer at a pre-agreed higher price, payable by instalments………………………………………..Full Article: Source