Education & Protection
Islamic finance, the honest way · التمويل الإسلامي
Mizanek puts Islamic finance side by side with conventional — neither replaces the other, and it's open to everyone. Flip the Conventional / Islamic switch (top bar, or on any calculator) and the tools recompute using AAOIFI-standard structures. Same Mizanek honesty: we show you the real cost, because Sharia-compliant doesn't automatically mean cheaper.
The core structures (AAOIFI)
Murabaha مرابحة
AAOIFI Shari'ah Standard No. 8What it is: Cost-plus sale: the bank buys the asset (or a commodity, for personal finance via Tawarruq) and sells it to you at cost plus a fixed, disclosed profit, repaid in instalments.
The honest bit: No interest and the price is locked — but the profit can still be priced like a conventional rate. Sharia-compliant doesn't mean cheaper; compare the real cost.
Diminishing Musharaka مشاركة متناقصة
AAOIFI Shari'ah Standard No. 12What it is: Co-ownership for home finance: you and the bank co-own the property; you gradually buy the bank's share while paying rent on the share it still owns.
The honest bit: A genuinely different structure from a mortgage, but the total rent paid over the term is comparable to mortgage interest. Run the numbers.
Ijara إجارة
AAOIFI Shari'ah Standard No. 9What it is: Leasing: the bank owns an asset and leases it to you for rent; with Ijara muntahia bittamleek, ownership transfers to you at the end.
The honest bit: You're renting until the final transfer — responsibilities and what happens on early exit differ from a loan. Read the lease terms.
Mudarabah & Wakala مضاربة / وكالة
AAOIFI Shari'ah Standard No. 13What it is: Profit-sharing deposits and investment accounts: the bank invests your money and shares the actual profit with you, by an agreed ratio.
The honest bit: Returns are an EXPECTED profit share, not a guaranteed rate — and capital isn't guaranteed the way a conventional deposit implies.
Sukuk صكوك
AAOIFI Shari'ah Standard No. 17What it is: Asset-backed certificates that give you a share in real assets and the income they generate — the Sharia-compliant alternative to interest-paying bonds.
The honest bit: Lower risk than stocks but not risk-free: the issuer can still struggle, and the structure must be genuinely asset-backed to comply.
Takaful تكافل
AAOIFI Shari'ah Standard No. 26What it is: Cooperative insurance: members contribute to a shared pool that pays claims, avoiding the uncertainty (gharar) and interest of conventional insurance.
The honest bit: Covers the same needs as conventional insurance; check that the operator runs a true Takaful pool, not a relabelled product.
Islamic covered card بطاقة مغطاة
AAOIFI guidance (no riba)What it is: A card with no interest: the bank earns through a fixed, disclosed fee or profit, and any late charge is given to charity — it cannot be bank income.
The honest bit: Fees can still add up. The win is no compounding interest spiral — but pay in full and it costs the least, same as any card.
Sharia-compliant investing
For stocks, Mizanek flags whether a company passes Sharia screening — both the AAOIFI financial-ratio screen (limits on interest-based debt, interest income and non-compliant revenue) and the published list from ADIB. You'll see a clear heads-up like "not Sharia-compliant per AAOIFI screening" — but the decision is always yours. We never tell you to buy or sell anything.
Set your portfolio to Sharia-compliant only in the Investment Hub and the guidance and screening adjust accordingly.
Want every calculator in Sharia-compliant mode?
Use the Conventional / Islamic switch in the top bar — it sticks across the whole site.
Try it on a loan →Education only — not a fatwa or financial advice. AAOIFI standards and a qualified Shari'ah board are the authority; confirm anything material with them or your bank.