User:Gregora0272/my sandbox

FPinnovation Pty Ltd is a private limited company incorporated in Australia in 2006 and trades as innovatefp.

Innovatefp is a vehicle through which innovative financial products, including Shariah compliant products, may be conceived and brought to market.

Shariah compliant financial products and services, generically refered to as Islamic banking, are those which adhere to rules provided in the Shariah (the body of Islamic law and jurisprudence). The Shariah discourages riba (payment and receipt of interest), speculation and certain industries, pastimes and foods including gambling, pornography, alcohol and pork.

Commercial arrangements and agreements which are structured to be Shariah compliant would include mudarabah (profit and loss sharing/ limited partnership), ijarah (leasing), musharakah (partnership/joint venture), murabahah (cost plus mark-up), bai bithaman ajil (deferred/credit sale), wakalah (agency), takaful (insurance) and sukuk (capital markets bond).

CATEGORIES
Category:Islamic banking Category:riba