Domain Overview
This domain covers 9 Islamic finance standards that govern banking services, payment systems, financing operations, and institutional governance.
Key Themes in This Domain
- Fee-based services (not interest-bearing)
- Syndicated partnerships with conventional banks (with conditions)
- Customer protection and dispute resolution
- Institutional transformation and governance
- Liquidity and regulatory compliance
How This Domain Connects to Foundational Standards
| Concept | How It Applies in This Domain |
|---|---|
| Agency | Banking services rely heavily on agency relationships — custodian services, payment collection, subscription services. |
| Guarantees | Suretyship services, syndication guarantees, and bank commitments are explicitly regulated. |
| Mudarabah/Musharakah (the Musharakah standard-13) | Syndicated financing is structured through partnership and profit-sharing arrangements. |
| Promise | Credit agreements and syndication commitments rely on binding unilateral and bilateral promises. |
| Fatwa Governance | All banking products require Shari'ah board approval; conversion requires structured oversight. |