Conventional Bank treats money as a commodity and lends it against interest as its compensation. Islamic banking products are usually asset-backed and include buying and selling of assets, renting of assets, and participation on a profit & loss basis.

Another essential notion that underpins Islamic finance is that it shouldn’t motivate harm. For that reason, Islamic financial services should not invest in matters like alcohol, tobacco, and gambling.

Islamic finance also encourages partnership. This means that, where possible, each earnings and risk should be shared. This can be between two individuals, an individual and a business, or a business and a business.

Anyone can use Islamic finance products and offerings – you don’t have to be Muslim.