Search results for: 'Sharia'

Mariam Fatima has recently joined Amana Bank as a member of the New Product Initiatives Division. Seeing the need for a Shariah-compliant pawn service (Qard Hasan) in Sri Lanka, Fatima presents this product gap to her team. During two years, she and her team develop a pawn service that complies with Islamic banking principles - finally offering lower-middle-class individuals the opportunity to borrow money more securely.

This case is about Shari’ah compliant project financing in Saudi Arabia. It introduces the four categories of Islamic Finance which are Islamic banks, takaful, Shari’ah compliant asset management and sukuk by providing the definition, history and a summary of each one. It delves into sukuk by describing how a company called Sadara sought out financing and decided to tap into the sukuk market in Saudi Arabia. Students learn about the structure of the sukuk and are introduced to new concepts and vocabulary such as musharaka, istisna and ijara. The case wraps up by describing some of the challenges of using sukuk to help finance large-scale projects.