---
title: "Islamic open finance: the same APIs, different contracts underneath"
type: podcast episode 1
published: 2026-10-05T02:00:00.000Z
url: https://islamicopenfinance.com/podcasts/week-2026-10-05
audio: https://islamicopenfinance.com/podcasts/audio/week-2026-10-05.mp3
voices: synthetic (AI-generated speech)
---

# Islamic open finance: the same APIs, different contracts underneath

> Open finance moves data and instructions the same way for every product. What changes for Islamic finance is what the data describes: ownership, profit ratios and funds that belong to participants. Plus this week's business calendar: 5 business days.

## Transcript

**Amina:** Hi! This is Two Minutes, from IslamicOpenFinance™. I'm Amina, here with Yusuf.

**Yusuf:** Hello everyone!

**Amina:** We're starting a weekly series on Islamic open finance. Is it a different kind of open finance?

**Yusuf:** Not in the plumbing. Consent, licensed providers, APIs and secure messages work the same way. The UAE's regulation, for example, covers data sharing and service initiation for every product.

**Amina:** So where's the difference?

**Yusuf:** In what the data describes. A murabaha is a sale with a fixed price, not a loan balance. An investment account shares profit and loss. A takaful policy touches two funds.

**Amina:** And if the API just calls everything a loan or a deposit?

**Yusuf:** Then customers can be shown promises their contracts don't make, like a guaranteed return. And the evidence Shariah boards need, such as ownership before sale, gets lost.

**Amina:** What will we cover each week?

**Yusuf:** One contract or process at a time: what it requires, what the standard setters say, and what the data should record. Usually that means a few extra fields and steps in the right order.

**Amina:** And this week's business calendar?

**Yusuf:** This week has 5 business days.

**Amina:** The written version and the details are on the IslamicOpenFinance™ blog.

**Yusuf:** Our voices were made with AI. See you next week, bye!