The economic and financial arena has recently witnessed a massive shift of many financial organizations, investment houses, individuals and companies to dealings in Sharia-Compatible financial and economic products.

This has happened by the grace of Allah Almighty in the first place and thanks to the efforts of sincere scholars and economists who have been working hard to establish and bring to light the Sharia principles underlying economic activity and financial transactions from the Islamic perspective.

Commercial banks and financial institutions have recently been racing to provide such services on various levels including the provision of funds not only for individuals and corporate ventures but also for government project undertakings.

The economic and investment boom that has been going on in our region during recent years and the concurrent introduction of a variety of funding & investment financial products have prompted a swift and heated competition among financial institutions on the marketing of those products to individuals and commercial businesses with the result that those Islamic tools and products are taking firm root in the community.

Yet a closer look at the actual practices going on in this field, would reveal the fact that there is an urgent and specific need for putting better Sharia based controls to ensure the Compatibility of those products to the Islamic principles on which they were initially based.