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The sources of Islamic Finance are the Quran and Sunnah. These are the basic two sources from which conclusions regarding the authenticity of Islamic finance are considered. Islam itself is complete in all respects and therefore it has provided detailed guidelines for Islamic finance, either directly or indirectly, in a variety of different ways.

Islamic finance is as old as Islam itself, but over the course of its history the way of business has changed from the Barter System to the Dirham System and from the Dirham System to the Currency System. The way in which business was financed in earlier periods of trade is totally different from the way in which it is financed today. Islamic finance also remained in papers for many years and a practical, modern shape was only given to it with the establishment of the Dubai Islamic Bank in 1975. Today Islamic finance is emerging not only in Muslim countries but all over the world, irrespective of economic systems prevailing there. Over the course of the next few years Islamic banking is expected to become an expanding and emerging market as it is currently estimated to be increasing at an annual rate of 15 per cent.

The previous chapter focused on a discussion of the different objectives of Islamic finance. These objectives are based on the teaching in the Qur’an and the Sunnah and it is mandatory that they should be followed in Islamic finance.

The information and data collected on the research problem under study through a questionnaire-based survey of the stakeholders in the business of Islamic finance has been presented in the previous chapter. The data were analysed and through the application of statistical tools and a number of conclusions were outlined. The logical inferences drawn have been used to testify the hypothesis formulated for this study. In this chapter we will bring together some important findings and draw some final conclusions. This chapter will also include a number of recommendation as to how it should be possible to improve and strengthen the Riba-free system of Islamic finance and also to overcome the incongruities that currently exist in terms of the compatibility of the objectives and achievements of Islamic finance. A number of suggestions have also been made that will enable Islamic finance to keep pace with the rapid changes taking place worldwide in the financial sector with regard to products and services and the increased use of technology tools in conducting transactions under conditions of Islamic finance.

Islamic Finance is the subject of growing interest as it provides an alternative banking system to the world economy. Islam considers trade a very important component of economic development and, therefore, the notion of investing finance in an ethical way is essential. On the one hand, interest is forbidden in Islam; on the other hand, the management of investment is a must, so Islam has developed an alternative financial system which encourages the promotion of trade without interest. In this system, therefore, risk is shared rather than being transferred while taking the business transactions into consideration.

In the previous chapter, Islamic finance and its background were discussed in order to understand the nature of Islamic finance from a Shari’ah point of view. In order to obtain a thorough understanding of the system of Islamic finance, there was also a discussion of the different types of riba. The present chapter moves on to an explanation of the objectives of Islamic finance. These objectives have been classified into four separate categories: Islamic objectives, social objectives, ethical objectives and economic objectives.