It was this need for a fair financial system that brought about the birth of Islamic banking in the mid 1970s. Its objective was to provide a financial alternative that was fair, transparent and above all, a source of economic upliftment for all those in need.

Islamic banking, enlightened with the guidance of Islamic Sharia principles, emerged as an alternative financial system that neither gave nor took interest, thereby introducing a fair system of social justice and equality, while fulfilling the financial needs of people and maintaining high standards of ethics, transparency and a sense of responsibility.

A banking system in which millions around the world, irrespective of religious beliefs, are putting their faith in.

A banking system to which even the world’s leading conventional banks are turning to.

A banking system which is governed by a resilient code of ethics in all its practices and functions.

And, a banking system where ‘no interest’ is just one of the many aspects you’ll find interesting to follow for your own benefit.

Islamic banks provide an opportunity to the individuals and the businesses to build various assets which contribute to the development of the economy. Apart from this, the Islamic banks encourage the investment process through adopting innovative Sharia structures in all spheres of the economy, except in a few activities which are considered unethical.

Due to their very nature of complying with the Sharia principles, the Islamic banks are forbidden from indulging in any such practice, which may prove harmful to a customer.

Islamic banking is also the first where a customer, whether individual or corporate, isn't just a customer, but is a partner with the bank or owner of goods or assets. This means they share the risks, as well as the profits of such a partnership or ownership. And this unique arrangement is done in accordance with the laws of Sharia, which ensures complete transparency at all times.

Islamic banking therefore offers a portfolio of innovative, Sharia-compliant financial models that formalize this unique arrangement between customers and the bank. These are Murabaha, Musharaka, Mudaraba, Istisna, Salam and Ijara, to name a few.

Another unique aspect of Islamic banking is the special status it accords to female customers. It was the first banking system to provide women with separate and specialized banking facilities for them to conduct their financial transactions in utmost privacy and comfort.

And last but not least, Islamic banking is perhaps the only financial system to forbid the use of its finances or services for misleading, dishonorable, immoral and other purposes that would be harmful to society.