Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka. •Ijara is a leasing agreement whereby the bank buys an item for a customer and then leases it back over a specific period. • Mudaraba offers specialist investment by a financial expert in which the bank and the customer shares any profits. Customers risks losing their money if the investment is unsuccessful, although the bank will not charge a handling fee unless it turns a profit. • Ijara-wa-Iqtina is a similar arrangement, except that the customer is able to buy the item at the end of the contract.

• Murabaha is a form of credit which enables customers to make a purchase without having to take out an interest bearing loan. The bank buys an item and then sells it on to the customer on a deferred basis.

• Musharaka is a investment partnership in which profit sharing terms are agreed in advance, and losses are pegged to the amount invested.