---
title: "Retail Islamic banking | IslamicOpenFinance™"
description: "Customers expect instant, app-first banking; the contracts behind it still run on systems built for interest. Murabaha personal financing, Qard and wadiah current accounts, Profit-sharing investment accounts and more for Retail Islamic banking on IslamicOpenFinance™."
url: https://islamicopenfinance.com/sectors/retail-banking/
lang: en-GB
source: "IslamicOpenFinance"
---

> Customers expect instant, app-first banking; the contracts behind it still run on systems built for interest. Murabaha personal financing, Qard and wadiah current accounts, Profit-sharing investment accounts and more for Retail Islamic banking on IslamicOpenFinance™.

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2. [Sectors](https://islamicopenfinance.com/sectors/)
3. Retail Islamic banking

Consumer

# Retail Islamic banking

Customers expect instant, app-first banking; the contracts behind it still run on systems built for interest.

Islamic banks and windows serve retail customers with current accounts, investment accounts and personal financing, each resting on a different contract. When the core system only knows loans and deposits, ownership, profit-sharing and rebate events are handled outside it. IslamicOpenFinance™ models each contract directly and exposes it through the same APIs a digital channel needs.

[Request a demo for this sector](https://islamicopenfinance.com/#start) See the live demo

Financial products

## What you build on IslamicOpenFinance™

1

### Murabaha personal financing

The bank buys the goods, records its ownership, then sells them to the customer at cost plus a disclosed profit, with the schedule generated on business days.

2

### Qard and wadiah current accounts

Current accounts carry their contract basis, so statements, fees and any gifts follow the rules the product's Shariah resolution sets.

3

### Profit-sharing investment accounts

Mudarabah or wakalah accounts show the profit-sharing ratio or fee, the pool and the distribution, with reserves applied under the approved policy.

4

### Account information with consent

Customers let a third party read balances for a stated purpose and expiry, and revoke it in one step.

5

### Early settlement with ibra'

The outstanding amount and any rebate granted under the institution's policy are quoted and recorded as one event.

Value chain

## The actors in this chain

IslamicOpenFinance™ connects them with one contract model, one policy and one evidence trail.

Customer Islamic bank or window Shariah Supervisory Board Merchants and suppliers Third-party providers Payment rail

[Standard setters and regulators in the directory](https://islamicopenfinance.com/directory/?sector=retail-banking)

Typical flow

## A typical flow, step by step

1. **Customer request**
2. **Affordability check with consent**
3. **Bank buys the asset**
4. **Ownership recorded**
5. **Murabaha sale**
6. **Instalments**
7. **Closure and evidence**

Live demo

## See it in the terminal

Layla buys appliances through Qantara Islamic Bank (demo): the bank owns them first, then sells at cost plus a disclosed profit over twelve months. Demo data

**Demo** All institutions, people, amounts and events are fictional demonstration data. Nothing here is a Shariah ruling, an offer or advice; approving a product is for each institution's own Shariah board and regulator.

Glossary

## Key terms for this sector

[Murabaha](https://islamicopenfinance.com/glossary/murabaha) [Qard](https://islamicopenfinance.com/glossary/qard) [Wadiah](https://islamicopenfinance.com/glossary/wadiah) [Profit-sharing investment account (PSIA)](https://islamicopenfinance.com/glossary/profit-sharing-investment-account) [Open finance](https://islamicopenfinance.com/glossary/open-finance)

Other sectors

## Related sectors

[Consumer Home finance The longest contract a household signs, with ownership changing hands every month. - Diminishing musharakah - Ijarah muntahia bittamleek - Valuation and title evidence See the sector](https://islamicopenfinance.com/sectors/home-finance/) [Consumer Auto finance Dealers want a decision at the showroom; the lessor has to own the car before the lease starts. - Ijarah at the dealer - Murabaha car finance - Lessor maintenance and takaful See the sector](https://islamicopenfinance.com/sectors/auto-finance/) [Consumer Hajj and Umrah travel and savings Pilgrims save for years; travel packages, quotas and dates all depend on the Hijri calendar. - Goal-based savings - Operator payments - Hijri-aware schedule See the sector](https://islamicopenfinance.com/sectors/hajj-umrah/)

## Build Retail Islamic banking on IslamicOpenFinance™.

[Request a demo for this sector](https://islamicopenfinance.com/#start) [All sectors](https://islamicopenfinance.com/sectors/)