An Islamic social finance ecosystem has its specific instruments in terms of funding and investment that are in line with Shariah (Islamic law) principles. These include waqf (Islamic endowment), zakat (compulsory alms), ṣadaqah (donation), qarḍ ḥasan (benevolent loan) and others. In this...

This paper discusses the instruments of monetary control in a marketoriented Islamic financial system, highlighting the relative advantages of indirect instruments. In this context, it proposes equity-based government securities with rates of return based on budgetary surplus. Such rates are...