Defining 'Islamic Finance'

8 Pages Posted: 4 Jan 2021 Last revised: 18 Jan 2022

See all articles by Husam Suleiman

Husam Suleiman

Inland Empire Zakat Cooperative

Date Written: October 29, 2020


The mainstream definition of Islamic Finance is problematic; often shallow and missing the point. The mainstream definitions focus on the idiosyncrasies and not the very essence of Islamic Finance. This paper serves to better define Islamic Finance by incorporating concepts such as desires, scarcity, greed and competition.

Keywords: Islamic Finance, Definition, Finance, Islam, Desires, Scarcity, Greed, Competition

JEL Classification: G02, N20, N25, p49, A11, B19, B41

Suggested Citation

Suleiman, Husam, Defining 'Islamic Finance' (October 29, 2020). Available at SSRN: or

Husam Suleiman (Contact Author)

Inland Empire Zakat Cooperative ( email )

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