From Dawn: Islamic finance signifies financial services, mechanisms, practices, transactions, and instruments that comply with provisions given in the fundamental Islamic texts. Thus, Islamic finance not only includes banking, but also capital formation, capital markets and all types of financial intermediation.
In recent years, Islamic finance has not only increased in size, but has also become complex as finance professionals compete furiously to produce new shariah-compliant transactions and instruments. Becoming a segment within the global financial market, it has gained considerable interest as an alternative model of financial intermediation…. Full Article: Source