Conventional cores assume interest
Sale, lease and partnership contracts are forced into loan objects, so ownership, rent and profit-sharing events are lost or hand-coded.
Open infrastructure for Islamic finance
Build the Islamic finance product
before every integration is in place.
Model the contract, the Shariah approval and the evidence first. Connect cores and rails when you are ready.
Murabaha, ijarah, musharakah and mudarabah, sukuk, takaful, zakat and waqf, on one model.
- Contract models
- Sample data
- Simulator
- API
- SDK
- CLI
- Shariah workflow
- Connectors
No live core-banking or payment connection is needed to start.
ProductMurabaha home appliances financing
Sandbox · active
- 1Customer requestReady
- 2Asset purchase (ownership)Ready
- 3Murabaha saleReady
- 4Instalment scheduleReady
- 5Early settlement (ibra')Ready
- 6Closure and evidenceReady
0terminal views
0lab missions
0sectors
Built for the Islamic finance value chain
Islamic banksIslamic windowsTakaful and retakaful operatorsSukuk issuers and arrangersIslamic fund managersFintechsShariah boardsRegulators and supervisorsZakat and waqf institutionsCorporates
The problem
Islamic finance products still wait on systems built for something else.
Most teams building an Islamic finance product spend their first months adapting infrastructure rather than building the product: cores that assume interest, approvals kept in email threads, and a different rulebook in every market. The product waits, the Shariah review happens late, and the audit trail is rebuilt by hand.
Shariah approvals live in email
Product requests, board resolutions and their conditions sit in documents that the systems executing the contract never see.
Every market has its own rulebook
Regulators apply AAOIFI or IFSB standards fully, partially or as guidance, and add their own rules; the product has to follow each one.
Evidence is assembled after the fact
Proof of asset ownership, disclosed cost and profit, consent and approval is collected at audit time rather than recorded as each step happens.
The IslamicOpenFinance™ approach
Model the contract and the approval first;
connect cores and rails later.
IslamicOpenFinance™ separates the product from the provider. The contract's steps, the Shariah approval, profit allocation, data, interfaces and evidence are modelled first; then each capability runs in one of three modes:
- 1Simulator
- 2Provider sandbox
- 3Live connection
- Idea
- Contract model
- Data and scenarios
- Shariah review
- Simulation
- Board resolution
- Live connection
- Pilot
- Production
Outcomes
What actually improves
Fewer Shariah non-compliance events
Steps a contract depends on, such as ownership before sale, are enforced by the model instead of by a checklist.
Faster product approval
The Shariah board reviews a working simulation and a structured request, and its resolution is recorded against the product.
One audit trail
The board, internal Shariah audit and the regulator read the same evidence for every contract.
Replaceable providers
The product core stays the same when a core-banking system, commodity platform or payment rail changes.
One vocabulary across teams
Product, engineering, Shariah, risk and operations work from the same contract model and the same terms.
Reusable connectors
Each connector built for one product is available to the next.
Value for each audience
Each team gets a concrete result from day one.
Choose your role.
For Islamic banks and windows
Contract-typed products, a sandbox and starter packs to launch financing and deposit products without bending a conventional core.
For takaful and retakaful operators
Contributions split between the participants' risk fund and the operator, claims paid from the fund, and surplus handled as your model defines.
For sukuk issuers and arrangers
Issuance steps, asset transfer, subscription book, periodic distribution dates and maturity, with the evidence each step needs.
For fintechs
Build and demonstrate an Islamic finance product before a partner bank's integration is final.
For Shariah boards and Shariah officers
Structured product requests, a working simulation to review, and resolutions with their reference numbers and conditions attached to the product.
See governanceFor regulators and supervisors
A shared vocabulary and evidence model for sandboxes and supervisory reviews, mapped to the relevant AAOIFI and IFSB standards.
For zakat and waqf institutions
Collection, eligibility and disbursement workflows with a clear record of every step, and an illustrative zakat estimator for your users.
For corporates
Treasury, trade and supply-chain financing on murabaha, ijarah and wakalah structures, connected to the systems you already run.
One model, many products
One platform for Islamic finance products and markets
Choose a domain to see its lifecycle and the path to build it.
From idea to launch
Four steps, one path
Choose the contract behind the product.
Each contract family comes with its entities, states and lifecycle, including the steps the relevant AAOIFI Shariah Standard requires in order.
ExampleMurabaha for household appliances
OutputContract modelLifecycleRequired steps
Simulate with realistic data.
Run the product with fictional customers, assets and schedules, and test the failure paths before anyone relies on it.
ExampleSale attempted before the bank owns the asset
OutputSuccessBlocked stepLate paymentEarly settlementEvidence
Get Shariah approval inside the workflow.
The product request, supporting documents and simulation go to the Shariah board; the resolution, its reference and its conditions unlock the launch.
ExampleResolution with two conditions on late-payment charity
OutputRequestReviewResolutionLaunch unlocked
Connect the real systems.
Replace the simulator with a provider sandbox or a live connector for the core, the commodity platform and the payment rail; the product core does not change.
ExampleCore banking, commodity platform and instant payments
OutputSandbox→Pilot→Production
Do not start from a blank page
Every project starts from five starter packs.
Defines which financing products are built.
MurabahaIjarahIMBDiminishing musharakahTawarruq (where approved)Qard
Defines how funds are taken and how profit is allocated.
Qard current accountWadiahMudarabah PSIAWakalah investmentProfit equalisation reserveInvestment risk reserve
Defines how risk is shared among participants.
ContributionParticipants' risk fundWakalah feeMudarabah shareClaimSurplusRetakaful
Defines how certificates are issued and serviced.
Sukuk al-ijarahSukuk al-musharakahSukuk al-wakalahSPVSubscription bookPeriodic distributionRedemption
Defines how zakat and waqf are handled end to end.
Zakat assessmentNisab checkHawl dateCollectionEligibilityDisbursementWaqf income
The same product takes a different shape in each sector.
Retail
Murabaha at checkout, takaful at the point of sale, instalment schedules and early settlement.
Manufacturing
Istisna for production, murabaha for raw materials, ijarah for equipment.
Agriculture and food
Salam for harvests, murabaha for inputs, supply-chain finance that follows the goods.
Logistics
Ijarah for fleets, wakalah for services, trade finance for shipments.
Energy and infrastructure
Project sukuk, istisna during construction, ijarah once assets are in service.
Public sector
Sovereign sukuk, Islamic treasury operations and zakat administration.
An empty sandbox is not enough
Start with data from day one.
IslamicOpenFinance™ ships every project with fictional but realistic data, so the sandbox is usable on the first day.
A product is a lifecycle, not a feature list
Every contract has a real journey.
A murabaha, from the customer's request to the asset purchase, the sale, the instalments, the early-settlement rebate (ibra') and closure. Choose a step to see what happens in it.
Simulation first
Find the failure before production does.
Choose a run mode and a failure scenario, and see how the product responds.
Failure scenario
- Choose a scenario and press "Run scenario".
Worked examples
Two examples, from request to collection
Home finance
Layla Haddad finances a home with Qantara Islamic Bank by diminishing musharakah (demo).
- Request
- Valuation
- Joint purchase
- Shariah conditions checked
- Lease of the bank's share
- Monthly unit purchase
- Rent recalculated
- Final transfer
- Product pack
- Diminishing musharakah
- Sector
- Real estate
- Seed data
- Customers, properties, valuations
- Provider
- Simulator + core banking
- Governance
- Resolution + consent + evidence
SME stock finance
Khuzama Foods finances inventory by murabaha (demo).
- Purchase order
- Bank buys the stock
- Ownership recorded
- Murabaha sale
- Delivery
- Instalments
- Collection
- Product pack
- Murabaha
- Sector
- Food supply chains
- Seed data
- Suppliers, stock, invoices
- Provider
- Simulator + trade platform
- Governance
- Ownership proof + approval
From API to app
See the end-customer experience today
Three demo apps built on the same interfaces. Tap the buttons inside the phone or press autoplay; every action shows its API call and event as it happens.
Murabaha checkoutBawsala Electronics: SAR 6,000 over 12 months, first instalment 15 November 2026
9:41
Takaful claimHisn Takaful: AED 3,200 motor claim paid from the risk fund
9:41
Zakat assessmentRifd Zakat Fund: illustrative estimate in MYR, hawl date 2 Shaban 1448 AH
9:41
Tap any call in the list under the phone to open the same request in the API console. All data is demonstration data.
Embedded Islamic finance
Ready widgets, one line of code in your product
Murabaha schedule, takaful contribution, zakat estimator, readiness self-test, payment tracker and consent card, each running on the same platform capabilities and styled to your brand. The zakat estimator is illustrative and is not a fatwa.
The IslamicOpenFinance™ calendar
A calendar that knows business days, settlement and the Hijri month
Hijri (Umm al-Qura) and Gregorian dates side by side; business days per market with the right weekend; Islamic holidays shown as expected, subject to official announcement, until the authority confirms them. Settlement dates, instalment schedules and distribution dates are calculated on real business days.
One engine, every channel
One calendar engine behind every part of the platform
The interface, the API, the SDK, the CLI, the agents' MCP server and the calendar feed all use the same engine, so no two parts of the platform disagree about a business day, a settlement date or a due date.
- APIPublic, read-only, no key; with an OpenAPI description
- SDKEmbedded engine and typed HTTP client
- CLIThe
islamicopenfinancecommand for scripts and operations - MCPRead-only tools for AI agents
- iCalHoliday feeds per market for phone and email calendars
curl 'https://islamicopenfinance.com/api/calendar/settlement?market=sa&date=2026-10-15&t=2'
# → the second business day after the trade date in Saudi Arabia,
# with the Hijri date and any expected holiday flagged
# OpenAPI 3.1
https://islamicopenfinance.com/api/calendar/openapi.jsonimport { settlement, schedule } from "@islamicopenfinance/calendar";
settlement("2026-10-15", { market: "ae", t: 2 }); // embedded engine
schedule("2026-11-15", { market: "my", count: 12 }); // monthly due dates on business days$ isof settle 2026-10-15 --market sa --t 2
$ isof schedule 2026-11-15 --market my --count 12
$ isof holidays 1448 --market bh --jsonclaude mcp add --transport http \
isof-calendar \
https://islamicopenfinance.com/mcp
# read-only tools:
# calendar_day
# calendar_business_days
# calendar_settlement
# calendar_schedule
# calendar_holidayswebcal://islamicopenfinance.com/calendar/sa.ics
# One feed per market (sa, ae, bh, qa, kw, om, my, id, pk, uk)
# Islamic holidays are marked "(expected)" and STATUS:TENTATIVE until officially announcedNotifications and customer communication
One event, through the right channel.
Instalment due, periodic distribution paid, takaful claim settled, Shariah resolution issued: app push, SMS, email, in-app and webhook from one rule, with consent, quiet hours, business days and a fallback channel, and a delivery receipt for every message. Demo data
Agentic Islamic finance
An agent can act,
but only within its authority.
An agent acts only when:
- its identity is known,
- it holds the authority required,
- policy and the approved Shariah conditions allow it,
- limits are respected,
- and the result can be recorded and proven.
Financing agentCollections agentTakaful claims agentSukuk servicing agentTreasury agentSettlement agent
Zakat agentTrade finance agentPurification agentReconciliation agentCompliance agentEvidence agent
Request from the treasury agent of Qantara Islamic Bank (demo)Place USD 5,000,000 in a one-month commodity murabaha with Hadiqa Islamic Finance, value date 15 October 2026 (4 Jumada al-Ula 1448 AH)
- Intent
- Identity
- Authority
- Capability
- Shariah conditions
- Policy
- Plan
- Approval
- Action
- Evidence
- Reconciliation
When an agent goes beyond its authority, a person decides.
DemoAll institutions, people, amounts and dates are fictional. Nothing here is a Shariah ruling, an offer or advice; product approval is a matter for each institution's own Shariah board and regulator.
Shariah governance workflow
From product request to board resolution, in one workflow.
Each node is a person, a committee, a policy or a system step. The product request goes to Shariah review, then to the board; the resolution is recorded with its reference number and conditions, and only then is the launch unlocked. The steps follow the roles described in AAOIFI's Governance Standards and IFSB-31.
Control and visibility
Every product has a Shariah compliance surface.
Open approvals, the purification queue and audit findings, next to the operational picture. Demo data
Open Shariah approvals02 due this week
Contracts in force0▲ 36
Purification queue0▼ 1
Open audit findings0No change
Contract events over the last seven days
SundayMondayTuesdayWednesdayThursdayFridaySaturday
Recent lifecycles
- Murabaha, household appliancesAsset owned, sale pending
- Diminishing musharakah, homeUnits on schedule
- Takaful motor claimPaid from risk fund
- Sukuk periodic distribution, 1 December 2026 (21 Jumada al-Akhirah 1448 AH)Next business day
- Late-payment amountAwaiting charity transfer
The IslamicOpenFinance™ terminal
Contracts, governance and rails, in one environment.
Find, build, test, run and prove, for people and agents, from one place: murabaha, ijarah, musharakah, tawarruq, sukuk, takaful, zakat, the Shariah board, profit-rate routing and treasury. Demo data
Connect→Observe→Build→Automate→Run→Govern
DemoAll institutions, people, amounts and dates are fictional. Nothing here is a Shariah ruling, an offer or advice; product approval is a matter for each institution's own Shariah board and regulator.
For developers
API, SDK, CLI and MCP on one contract-typed model
A murabaha, a lease or a takaful claim is defined once and exposed through every channel. Resources are typed by contract, so a murabaha sale cannot be created before the ownership event exists, and a product cannot go live without a recorded Shariah resolution.
Create a murabaha quote
POST/v1/murabaha/quotes
Interactive API console
Try the interfaces here
Choose an endpoint, such as a murabaha quote, a takaful claim or a zakat assessment, change the request and send it. You see the path from gateway to provider, the response, headers, webhook events and ready code in four languages. Responses come from the simulator and are not connected to any real account.
POST
Press "Send" to see the response.
This session's history
- No requests sent yet.
Product architecture, not plumbing
Every layer an Islamic finance product needs
Choose a layer to see its role.
Experience and channels
WebMobileDashboardWidgetsAgent interface
Contracts
MurabahaIjarahMusharakahMudarabahWakalahSalam and istisnaTakafulSukuk
Shariah governance
Product requestShariah reviewBoard resolutionConditionsInternal Shariah auditPurification
Ledger and profit allocation
Ownership eventsDeferred profitProfit allocationReservesCharity account
Access
APISDKCLIWebhooksMCP
Rails and integration
Core bankingCommodity platformsPayment railsRegistrarsConnector marketplace
Evidence
ConsentApprovalOwnership proofEvent logExport
Choose a layer.
Ecosystem
Every player in Islamic finance, one shared vocabulary
Standard setters, regulators, Islamic banks and windows, takaful operators, sukuk issuers, fintechs, Shariah boards, zakat and waqf institutions and corporates meet through one standard model. The directory lists the public bodies from official sources.
- Standard setters
- Regulators
- Islamic banks
- Islamic windows
- Takaful operators
- Sukuk issuers
- Fintechs
- Shariah boards
- Zakat and waqf bodies
- Corporates
- Developers
- AI agents
Private financial networks
Your own financial network, within and across borders.
A group of institutions shares policies and routes in a private network, for example interbank commodity murabaha placements between banks, with a shared record of each leg. Demo data
DemoAll institutions, people, amounts and dates are fictional. Nothing here is a Shariah ruling, an offer or advice; product approval is a matter for each institution's own Shariah board and regulator.
Connect once, reuse many times
Turn every integration into a reusable asset.
Providers differ; your product should not.
An adapter maps the IslamicOpenFinance™ standard model to each provider's own contract. The product stays the same; only the connection changes.
Standard murabaha modelcanonical.murabaha.v1
Adapter
Provider APOST /v2/deferred-sale
Every provider in one view
Providers, capabilities, versions, environments and health status in one registry.
| Provider | Capability | Environment | Status |
|---|---|---|---|
| IslamicOpenFinance™ simulator | Contracts and payments | Simulation | Ready |
| Qantara Islamic Bank (demo) | Accounts and murabaha | Sandbox | Connected |
| Demo commodity platform | Commodity purchase and sale | Sandbox | Active |
| Hisn Takaful (demo) | Contributions and claims | Sandbox | Mapping |
One request, several providers
One financing request; the best route, by rule.
The same request is quoted by several providers and routed by the disclosed expected profit rate, fees and the product's Shariah approval status. If a provider does not respond, the next route is chosen by the same rule, and each step is recorded with its time. Demo data
DemoAll institutions, people, amounts and dates are fictional. Nothing here is a Shariah ruling, an offer or advice; product approval is a matter for each institution's own Shariah board and regulator.
Governance from the start, not at the end
Every contract step approved, recorded and traceable.
- Request
- Identity
- Authority
- Shariah resolution
- Policy
- Execution
- Evidence
IdentityConsentAuthorityBoard resolutionResolution conditionsLimitsApprovalEvidenceEvent logInternal Shariah auditRetention
Compared with the alternatives
Why scattered tools are not enough
| Approach | Strength | Limitation |
|---|---|---|
| In-house build | Full control | Starts from zero; every contract and market rule is rebuilt |
| Islamic window on a conventional core | Reuses existing systems | Contracts are forced into loan objects; ownership and profit events are hand-coded |
| Spreadsheets and email approvals | Quick to start | No link between the resolution and what the system executes; evidence is rebuilt at audit |
| IslamicOpenFinance™ | Contract models + Shariah workflow + simulation + developer tools + evidence + connectors | Needs the right configuration for each product and market; Shariah approval stays with your board |
Business value
The aim is not only to build faster: change should cost less and stay under control.
Less time to market
The product is built and reviewed before live connections are ready.
Less rework
Demo, Shariah review, pilot and production stay on one product model.
Less provider lock-in
A provider can change without redesigning the product core.
Less compliance risk
Required steps and approval conditions are enforced, and failures surface before production.
More reuse
Connectors, adapters, packs and workflows carry over between projects.
Your Islamic finance product should not wait for someone else's interface.
Continue here
Try it, learn it, build it with us.
LabTry the API in your browser.
Seven guided missions: own the asset, then sell; replay safely; see a sale-before-ownership fail; submit for Shariah approval; run a zakat estimate; call the real calendar API.
Enter the lab SectorsOne infrastructure, sixteen sectors.From retail and home finance to sukuk issuers, takaful, food supply chains and zakat institutions.
See sectors AcademyLearn Islamic open finance step by step.Six tracks, from contracts as APIs to Shariah governance workflows, plus workshops.
Enter the academy PartnersBuild open infrastructure for Islamic finance with us.Islamic banks, takaful operators, integrators, connector builders, Shariah advisory firms and universities.
Become a partnerBlog
Guides, analysis and the Hijri month report
Practical guides for product and engineering teams, analysis of standards and regulation from official sources, and a report on business days and holidays per market on the first day of each Hijri month.
Podcasts
Islamic finance in one and two minutes
Short shows: "Islamic Finance in a Minute", one glossary term every day; "Two Minutes of IslamicOpenFinance™" on Mondays; "Standard by Standard" on AAOIFI and IFSB standards on Tuesdays; "The Regulator's Desk" on Wednesdays, from official sources only; "Sectors in Two Minutes" on Thursdays; and "Licences, Plainly" on Sundays. Every episode has a full transcript and an RSS feed.
Glossary
The Islamic finance glossary
Terms across fourteen categories, with their common transliterations, from riba and gharar to sukuk, takaful, zakat, Shariah governance and open finance, each with its official source. One term is explained every day in a minute.
Events
Webinars, workshops and sessions
Hands-on workshops on the lab, walkthroughs of Shariah governance workflows and sessions with bank, takaful and fintech teams. Times are shown in Gulf Standard Time and in your own time zone, with registration, reminders and add-to-calendar.
Hear about new events
We email you when a new event is announced or an important guide is published.
FAQ
Questions we are often asked
Do we need a live core-banking connection to start?
No. A product can be modelled and tested first with the simulator, sample data and defined contracts.
Is this a fatwa? Does IslamicOpenFinance™ approve products?
No. IslamicOpenFinance™ does not issue Shariah rulings and does not certify products. It models contracts and runs the approval workflow; whether a product may be offered is decided by the institution's own Shariah board and, where one exists, the national Shariah authority and the regulator.
Which standards do you follow?
Content and contract models refer by name and number to the AAOIFI Shariah Standards, Financial Accounting Standards and Governance Standards, to IFSB standards and guiding principles, and to the rules of the relevant regulator. We cite them and link to the official source; we do not reproduce their copyrighted text. AAOIFI and IFSB do not certify software, and we make no such claim.
How do you handle structures on which scholars differ, such as organised tawarruq?
The platform models the steps of a structure; it does not decide whether the structure may be used. The glossary sets out the positions of the bodies that have addressed it, such as the International Islamic Fiqh Academy and AAOIFI, with their sources. Your Shariah board decides.
Is it only for open banking?
No. Open banking is one domain. Financing, deposits and investment accounts, takaful, sukuk, funds, trade, treasury, zakat and waqf are built on the same model.
Can AI agents use it?
Yes. Agents use the same capabilities, within identity, authority, policy, limits and the conditions of the approved Shariah resolution, and every action leaves evidence.
How is the information I enter in the forms used?
Only to respond to that request. Read the details in the .
Start from a real product
Model the contract first;
then choose the best connection.
Contracts, lifecycles, data, scenarios, the Shariah workflow, interfaces, SDK, CLI, dashboards, governance and connectors on one path.
Start with one product; extend to other contracts, providers and markets later.