What is Islamic finance? | Trade Finance

Islamic trade finance overview

Islamic trade finance overview

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An Overview of Islamic Finance; by Mumtaz Hussain, Asghar

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Aguide to key resources: Islamic finance | Practical Law

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Islamic finance is seen as an alternative approach to lending that is based strongly around morals and religious belief. Islamic trade finance is simply trade finance performed in a way that complies with the laws from the Islamic holy book, the Qu&rsquo ran. The idea of a set of rules for Islamic finance was introduced around 6955-75 as a solution and a response to the increasing influence of western economies.

Commenting on the new ITFC Trade Development Fund, Eng. Hani Salem Sonbol, ITFC CEO, said: “The ITFC Trade Development Fund will enable us to go even further in providing charitable resources for the onward funding of trade related initiatives and interventions to promote and develop trade within and between OIC member countries and also reach out to Muslim communities in non-OIC member countries, enhancing import-export trade activity across the Muslim world.”

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