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Islamic Finance and Banking

William and Anita Newman Library resources, and other sources, on Islamic finance and Islamic banking to supplement Robert Zicklin Center for Financial Integrity and Baruch Muslim Student Association program: American Business and the Islamic World.

About This Guide


  Guide is prepared to supplement the program American Business and the Islamic World on February 26, 2013, co-sponsored by the Robert Zicklin Center for Financial Integrity and the Baruch Muslim Students Association.

About the Program: American Business and The Islamic World

Some terms to know to help with searches of Newman Library resources

Books, databases, and journals may use variant spellings.  By using an "or" search, and searching for each spelling, you will retrieve more results. For example search: Shari'a or Sharia.


Qur'an or Quran or Koran or Al-Qur'an refers to the central religious text of Islam.

Shari'a or Sharia refers to the moral code and religious law of Islam.

Under Shari'a, charging interest (riba or Al-riba) is forbidden as it is thought to be exploitive. Interpretations vary, with some thinking that riba may refer only to excessive interest (also known as usury).

Sometimes "Shariah-compliant" or "Shari'ah-compliant" is used to describe a company. "Rules-based screens for Shari´ah compliance" is a term sometimes used in referring to specific financial products or services.

Gharar, from its  Arabic root means deception.  Islam forbids  tadlis (cheating in business) and ghabn (deception.) More broadly, gharar encompasses uncertainty, risk, and hazard, which occur in all businesses, and a certain level is tolerated.

Sukuk is the Arabic name for financial certificiates but the term commonly refers to the Islamic equivalent of bonds, which are Shariah-compliant.

Takaful is the term that describes mutual insurance that is fully-compliant with Shariah principles.

 For additional help, please consult: