The Islamic way of financing & investment

Ziad H. Rawashdeh, Manager of the Projects and Trade Finance department for the Islamic Investment Company of the Gulf, is interviewed. His group is a subsidiary of the Dar al-Maal Al Islami Group. The total capital investment involved with Rawashdeh's corporation is over $300 million. The projects funded have been contributing positively to the economies they take place in. Commerce between Muslim countries has been encouraged by company practices. In approving a finance package, the company's first criterion is permissibility by the shari`a. Next, commercial viability is looked at. The financing body also has some socio-economic aims that any funded project ought to be in line with. The business standing of financing applicants is looked at--it is possible that a project be rejected based on a company's financial situation. Islamic banks differ from conventional ones in their operations in that Islamic banks take on more risk. Among the practices of Islamic banks are mudara