Islamic finance: its history, products, and role in the international capital market

Ijlal Ahmed Alvi, Chief Executive Officer of the International Islamic Financial Market (IIFM) offers his insights into Islamic finance, giving a brief history of modern Islamic banking and an overview of the Islamic financial model. Ijlal discusses the various financial products, the challenges of integrating it in today’s capitalist financial system, and how Islamic finance, which reflects the concept of social benefit and social value, can offer lessons for the markets’ response to the current pandemic.