--- title: "IslamicOpenFinance™ | Open infrastructure for Islamic finance" description: "IslamicOpenFinance™ is open infrastructure for Islamic finance: model murabaha, ijarah, musharakah, takaful, sukuk and zakat products, run the Shariah approval workflow, and connect cores and rails when you are ready." url: https://islamicopenfinance.com/ lang: en-GB source: "IslamicOpenFinance" --- > IslamicOpenFinance™ is open infrastructure for Islamic finance: model murabaha, ijarah, musharakah, takaful, sukuk and zakat products, run the Shariah approval workflow, and connect cores and rails when you are ready. 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 Request a demo See use cases No live core-banking or payment connection is needed to start. _Product workspace · demo data_ Product **Murabaha home appliances financing** Sandbox · active 1. 1 Customer request **Ready** 2. 2 Asset purchase (ownership) **Ready** 3. 3 Murabaha sale **Ready** 4. 4 Instalment schedule **Ready** 5. 5 Early settlement (ibra') **Ready** 6. 6 Closure and evidence **Ready** **0** terminal views **0** lab missions **0** sectors Built for the Islamic finance value chain Islamic banks Islamic windows Takaful and retakaful operators Sukuk issuers and arrangers Islamic fund managers Fintechs Shariah boards Regulators and supervisors Zakat and waqf institutions Corporates 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. 1 ### 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. 2 ### Shariah approvals live in email Product requests, board resolutions and their conditions sit in documents that the systems executing the contract never see. 3 ### 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. 4 ### 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: - **1** Simulator - **2** Provider sandbox - **3** Live connection Choose a product See the architecture 1. Idea 2. Contract model 3. Data and scenarios 4. Shariah review 5. Simulation 6. Board resolution 7. Live connection 8. Pilot 9. 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. Islamic bank or window Takaful operator Sukuk desk Fintech Shariah board Supervisor Zakat and waqf body Corporate For Islamic banks and windows Contract-typed products, a sandbox and starter packs to launch financing and deposit products without bending a conventional core. Request a demo 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. Build a sandbox For sukuk issuers and arrangers Issuance steps, asset transfer, subscription book, periodic distribution dates and maturity, with the evidence each step needs. Build a prototype For fintechs Build and demonstrate an Islamic finance product before a partner bank's integration is final. Get sandbox access 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 governance For regulators and supervisors A shared vocabulary and evidence model for sandboxes and supervisory reviews, mapped to the relevant AAOIFI and IFSB standards. Contact us 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. Choose a product For corporates Treasury, trade and supply-chain financing on murabaha, ijarah and wakalah structures, connected to the systems you already run. Add a connector 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. ### Murabaha financing Request, asset purchase, sale at disclosed cost plus profit, instalments, early settlement and closure. See lifecycle ### Ijarah and ijarah muntahia bittamleek Asset purchase, lease, rentals, lessor's maintenance and insurance, transfer of ownership at the end. See lifecycle ### Diminishing musharakah Joint ownership, units bought back over time, rent on the financier's share, final transfer. See lifecycle ### Deposits and investment accounts Current accounts on qard or wadiah, and profit-sharing investment accounts on mudarabah or wakalah. See lifecycle ### Takaful and retakaful Contribution, participants' risk fund, operator fee, claim, surplus and retakaful cession. See lifecycle ### Sukuk Originator, underlying assets, SPV, subscription, allotment, periodic distribution and redemption. See lifecycle ### Islamic funds and asset management Shariah screening, subscriptions, valuation, purification of income and distributions. See lifecycle ### Trade and supply chain Murabaha for stock, salam and istisna for production, wakalah and kafalah services. See lifecycle ### Treasury and liquidity Commodity murabaha placements, liquidity sukuk, maturity ladder and wa'd-based hedging. See lifecycle ### Zakat, sadaqah and waqf Assessment, collection, eligibility, disbursement and endowment income, with every step recorded. See lifecycle ### Embedded Islamic finance Murabaha at checkout, takaful at sale and zakat tools inside marketplaces and business software. See lifecycle ### Agentic Islamic finance Agents that act only within identity, authority, policy, limits and Shariah conditions, and record evidence for every action. See lifecycle From idea to launch ## Four steps, one path 1 Choose the contract 2 Simulate 3 Shariah approval 4 Connect ### 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. Example Murabaha for household appliances Output Contract model Lifecycle Required steps ### Simulate with realistic data. Run the product with fictional customers, assets and schedules, and test the failure paths before anyone relies on it. Example Sale attempted before the bank owns the asset Output Success Blocked step Late payment Early settlement Evidence ### 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. Example Resolution with two conditions on late-payment charity Output Request Review Resolution Launch 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. Example Core banking, commodity platform and instant payments Output Sandbox _→_ Pilot _→_ Production Do not start from a blank page ## Every project starts from five starter packs. Retail financing Deposits and PSIA Takaful Sukuk Social finance Defines **which financing products** are built. Murabaha Ijarah IMB Diminishing musharakah Tawarruq (where approved) Qard Defines **how funds are taken** and how profit is allocated. Qard current account Wadiah Mudarabah PSIA Wakalah investment Profit equalisation reserve Investment risk reserve Defines **how risk is shared** among participants. Contribution Participants' risk fund Wakalah fee Mudarabah share Claim Surplus Retakaful Defines **how certificates are issued** and serviced. Sukuk al-ijarah Sukuk al-musharakah Sukuk al-wakalah SPV Subscription book Periodic distribution Redemption Defines **how zakat and waqf** are handled end to end. Zakat assessment Nisab check Hawl date Collection Eligibility Disbursement Waqf 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. Starter Growth Capital markets Stress test 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. Email me this path Request a demo for this product Simulation first ## Find the failure before production does. Choose a run mode and a failure scenario, and see how the product responds. **Mock** Test contracts and basic responses. **Simulated** Run the stateful lifecycle through its states. **Sandbox** Connect to a provider's sandbox. **Live** Move to a live connection. Failure scenario Sale before ownership Shariah approval missing Duplicate request Late payment (charity) Commodity leg out of order Webhook delay Profit shortfall on PSIA Consent expired Takaful claim rejected Distribution date on a holiday Settlement failure Reconciliation mismatch Run scenario _Run log_ 1. 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). 1. Request 2. Valuation 3. Joint purchase 4. Shariah conditions checked 5. Lease of the bank's share 6. Monthly unit purchase 7. Rent recalculated 8. Final transfer **Product pack** Diminishing musharakah **Sector** Real estate **Seed data** Customers, properties, valuations **Provider** Simulator + core banking **Governance** Resolution + consent + evidence Run the home finance example SME stock finance ### Khuzama Foods finances inventory by murabaha (demo). 1. Purchase order 2. Bank buys the stock 3. Ownership recorded 4. Murabaha sale 5. Delivery 6. Instalments 7. Collection **Product pack** Murabaha **Sector** Food supply chains **Seed data** Suppliers, stock, invoices **Provider** Simulator + trade platform **Governance** Ownership proof + approval Run the stock finance example 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 checkout** Bawsala Electronics: SAR 6,000 over 12 months, first instalment 15 November 2026 9:41 Autoplay Restart **Takaful claim** Hisn Takaful: AED 3,200 motor claim paid from the risk fund 9:41 Autoplay Restart **Zakat assessment** Rifd Zakat Fund: illustrative estimate in MYR, hawl date 2 Shaban 1448 AH 9:41 Autoplay Restart 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. - **API** Public, read-only, no key; with an OpenAPI description - **SDK** Embedded engine and typed HTTP client - **CLI** The `islamicopenfinance` command for scripts and operations - **MCP** Read-only tools for AI agents - **iCal** Holiday feeds per market for phone and email calendars API SDK CLI MCP iCal ``` 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.json ``` ``` import { 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 --json ``` ``` claude mcp add --transport http \ isof-calendar \ https://islamicopenfinance.com/mcp # read-only tools: # calendar_day # calendar_business_days # calendar_settlement # calendar_schedule # calendar_holidays ``` ``` webcal://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 announced ``` [Open the full calendar](https://islamicopenfinance.com/calendar/) [Calendar API docs](https://islamicopenfinance.com/calendar/#api) [Subscribe to holiday feeds](https://islamicopenfinance.com/calendar/#subscribe) Notifications 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. The agent may place treasury funds Run the agent's request Financing agent Collections agent Takaful claims agent Sukuk servicing agent Treasury agent Settlement agent Zakat agent Trade finance agent Purification agent Reconciliation agent Compliance agent Evidence 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)** 1. Intent 2. Identity 3. Authority 4. Capability 5. Shariah conditions 6. Policy 7. Plan 8. Approval 9. Action 10. Evidence 11. Reconciliation ### When an agent goes beyond its authority, a person decides. **Demo** All 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](https://aaoifi.com/issued-standards-2/?lang=en) and [IFSB-31](https://www.ifsb.org/wp-content/uploads/2025/07/IFSB-31-Guiding-Principles-for-Effective-Supervision-of-Shariah-Governance.pdf). 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 approvals **0** _2 due this week_ Contracts in force **0** _▲ 36_ Purification queue **0** _▼ 1_ Open audit findings **0** _No change_ **Contract events over the last seven days** Events Exceptions Sunday Monday Tuesday Wednesday Thursday Friday Saturday **Recent lifecycles** - Murabaha, household appliances _Asset owned, sale pending_ - Diminishing musharakah, home _Units on schedule_ - Takaful motor claim _Paid from risk fund_ - Sukuk periodic distribution, 1 December 2026 (21 Jumada al-Akhirah 1448 AH) _Next business day_ - Late-payment amount _Awaiting charity transfer_ **Shariah review status** Approved: 39 In review: 8 Returned: 3 **Instalment operations** 91% Due: 1,950 Collected: 91% In follow-up: 9% **Provider network** Cores and payments: 5 Commodity platforms: 3 Takaful and registrars: 2 **Purification** 67% Identified: 3 items Transferred: 67% Pending: 33% 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** **Demo** All 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. [Open the full terminal](https://islamicopenfinance.com/terminal/) API console 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. API SDK CLI Webhooks MCP Copy **Developer portal** Overview Contracts API Webhooks SDK CLI MCP Schemas Samples Sandbox Logs #### Create a murabaha quote POST /v1/murabaha/quotes Auth: **Bearer** Version: **1.0** Environment: **Sandbox** Rate limit: **600 per minute** Connector: **Simulator** Status: **Healthy** Sample request Response schema Event history Try it Open the API console Get sandbox access 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. Environment Connector POST Send Parameters Body Headers Schema Simulator scenario Press "Send" to see the response. Response Headers Events Code **This session's history** 1. No requests sent yet. Get a sandbox key Product architecture, not plumbing ## Every layer an Islamic finance product needs Choose a layer to see its role. **Experience and channels** Web Mobile Dashboard Widgets Agent interface **Contracts** Murabaha Ijarah Musharakah Mudarabah Wakalah Salam and istisna Takaful Sukuk **Shariah governance** Product request Shariah review Board resolution Conditions Internal Shariah audit Purification **Ledger and profit allocation** Ownership events Deferred profit Profit allocation Reserves Charity account **Access** API SDK CLI Webhooks MCP **Rails and integration** Core banking Commodity platforms Payment rails Registrars Connector marketplace **Evidence** Consent Approval Ownership proof Event log Export 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](https://islamicopenfinance.com/directory/) lists the public bodies from official sources. ![IslamicOpenFinance™](https://islamicopenfinance.com/brand/app-icon-512.png) - 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 **Demo** All 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. All Core banking Commodity platforms Payment rails Takaful systems Registrars and custody Identity and KYC Messaging Reporting and compliance ### 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. Provider A Provider B Standard murabaha model canonical.murabaha.v1 Adapter Provider A POST /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 **Demo** All 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. 1. **Request** 2. **Identity** 3. **Authority** 4. **Shariah resolution** 5. **Policy** 6. **Execution** 7. **Evidence** Identity Consent Authority Board resolution Resolution conditions Limits Approval Evidence Event log Internal Shariah audit Retention 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. Build a sample product See the architecture Brand guide ## The IslamicOpenFinance™ visual identity Logo, colours, typography, notification samples and usage rules, for teams, partners and media. [See the brand guide](https://islamicopenfinance.com/brand/) Continue here ## Try it, learn it, build it with us. [Lab **Try 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_](https://islamicopenfinance.com/lab/) [Sectors **One infrastructure, sixteen sectors.** From retail and home finance to sukuk issuers, takaful, food supply chains and zakat institutions. _See sectors_](https://islamicopenfinance.com/sectors/) [Academy **Learn Islamic open finance step by step.** Six tracks, from contracts as APIs to Shariah governance workflows, plus workshops. _Enter the academy_](https://islamicopenfinance.com/academy/) [Partners **Build open infrastructure for Islamic finance with us.** Islamic banks, takaful operators, integrators, connector builders, Shariah advisory firms and universities. _Become a partner_](https://islamicopenfinance.com/partners/) Blog ## 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. [All articles](https://islamicopenfinance.com/blog/) [RSS feed](https://islamicopenfinance.com/blog/feed.xml) 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. ![IslamicOpenFinance™ podcast cover](https://islamicopenfinance.com/brand/podcast-cover-600.png) [All episodes](https://islamicopenfinance.com/podcasts/) [Podcast feed (RSS)](https://islamicopenfinance.com/podcasts/feed.xml) 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. [Shariah fundamentals 25](https://islamicopenfinance.com/glossary/#fundamentals) [Sale-based contracts 23](https://islamicopenfinance.com/glossary/#sales) [Lease, agency and service contracts 17](https://islamicopenfinance.com/glossary/#lease) [Partnership and investment 17](https://islamicopenfinance.com/glossary/#partnership) [Deposits and accounts 13](https://islamicopenfinance.com/glossary/#accounts) [Sukuk and capital markets 17](https://islamicopenfinance.com/glossary/#sukuk) [Takaful 15](https://islamicopenfinance.com/glossary/#takaful) [Social finance and zakat 15](https://islamicopenfinance.com/glossary/#social) [Shariah governance 21](https://islamicopenfinance.com/glossary/#governance) [Prudential regulation 11](https://islamicopenfinance.com/glossary/#prudential) [Open finance and APIs 14](https://islamicopenfinance.com/glossary/#open-finance) [Treasury, liquidity and hedging 13](https://islamicopenfinance.com/glossary/#treasury) [Accounting and reporting 10](https://islamicopenfinance.com/glossary/#accounting) [Calendar, settlement and markets 10](https://islamicopenfinance.com/glossary/#calendar) [All terms](https://islamicopenfinance.com/glossary/) [Islamic Finance in a Minute](https://islamicopenfinance.com/podcasts/#daily) 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. Full name Email I agree to the privacy policy. Subscribe [Academy and events](https://islamicopenfinance.com/academy/#workshop) 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 privacy policy. 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. Request a demo Build a sandbox Start with one product; extend to other contracts, providers and markets later.