Tools of the islamic finance ecosystem

Abstract

At the moment, the development of modern Islamic financial instruments is becoming more and more in demand, in addition, the orientation of economic relations to the east, a significant proportion of which is represented by the Islamic world, increases the relevance of this study. The article discusses the basics, types and current situation of the development of Islamic finance, highlights the issues of standards, prohibitions and opportunities. Existing instruments such as Islamic banking, Islamic indices, investment funds, leasing companies, mortgage companies and fintech products, the degree of their development in the world, in Russia and the CIS countries, the possibilities of developing these mechanisms are assessed. Particular attention is paid to the development of financial technologies, their industry structure, prospects and opportunities. The article focuses on the quality of Shariah analysis and the presence of advice for each organization providing these services, describes the importance of this aspect as one of the foundations of Islamic finance.