Riba (usury/interest) is strictly prohibited in Islam as it is considered exploitative.

In Mudarabah, the Rabb-ul-Maal provides the capital while the Mudarib provides the effort/management.

Murabaha is a specific kind of sale where the seller discloses the cost of the goods and adds a profit margin agreed upon by both parties.

Zakat aims to ensure the circulation of wealth and provide social welfare for the needy.

Musharakah is a joint enterprise or partnership structure where partners share the risk and rewards.

Qard-e-Hasan is a loan extended for the sake of Allah without any expectation of interest or return.

Ijara is the Islamic equivalent of leasing where the usufruct of an asset is transferred for a specified period against a rent.

Takaful is the Islamic alternative to conventional insurance based on the principles of mutual assistance (Ta'awun).

Salam is a sale contract where the buyer pays in advance for goods to be delivered at a future date.

Islamic economic theory considers money as a tool for facilitating trade, not a commodity that can be traded for profit in itself.

Bai-al-Muajjal is a deferred payment sale where an actual commodity is sold, whereas a conventional loan is a transfer of money for money with interest.

Qabd (possession) is a mandatory condition in Islamic trade to ensure that the seller assumes the risk of the goods before passing them to the buyer.

Wakala is a common Islamic financial arrangement where the agent acts on behalf of the principal for a defined service or management role.

Ushr is a mandatory Islamic levy (tithe) on agricultural produce, typically 10% on rain-fed lands or 5% on irrigated lands.

Islamic finance prohibits investment in industries that are socially harmful or forbidden by Sharia, such as the production of alcohol or gambling.

Istisna is a contract to manufacture or construct a specific asset where the price is paid either in full or in installments during the manufacturing period.

The Sharia Advisory Board provides oversight to ensure that the institution's products, contracts, and investments strictly adhere to Islamic jurisprudence.

Riba-al-Fadl refers to the surplus or excess taken in the exchange of specific commodities of the same type, which is prohibited to prevent exploitation.

The cornerstone of Islamic finance is Profit and Loss Sharing (PLS), which mandates that providers of capital must share in the risks of the business rather than guaranteeing a fixed return.