In this episode, Anisa and I discuss the genesis of the Islamic banking and finance industry. We discuss some of the challenges of the profit and loss sharing structures (mushaarakah, muDaarabah etc) and share some of the criticisms of the sale-based muraabahah, commodity muraabahah and ijara muntahia bit-tamleek structures. We try to explain what these Islamic structures are in the simplest of terms.
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Check out:
Book: A Comparative Study of Islamic Finance in Australia and the UK (Routledge, UK, 2022)
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Twitter: Dr Imran Lum