The Islamic Capital Market (ICM) refers to the market where capital market activities are carried out in ways that do not conflict with the conscience of Muslims and the religion of Islam. Transactions are free from the elements such as usury (riba), gambling (maisir) and ambiguity (gharar).
The ICM has functioned as a parallel market to the conventional capital market for capital seekers and providers, and has played a complementary role to the Islamic banking system in broadening and deepening the Islamic financial markets in Malaysia.
Today, Bursa Malaysia has the largest Islamic products listed as compared to exchanges in other Islamic countries.
The Islamic Capital Market (1.29 MB)