The fundamental principles of Islamic Banking date back to over 1400 years. They are set out in Shariah law and are enshrined in the Qur’an, the Hadith, and the Sunnah. It revolves around the notion that return on financing (or profit) must be based on ownership and shared profit or loss. This explains the emphasis on partnership and acceptable sales transactions in an Islamic Banking system.
Today, these principles form the basis of iib Islamic Banking. All products and services have been designed to ensure that they conform to Shariah principles.