Islamic banking is by name is not mere a concept but a complete conduct of financial structure. Islamic finance is based on prohibition of riba (interest), gharrar (uncertainty) and maysir (gambling). The core concept of Islamic finance is not new to the world since its foundations were explained in teachings of Holy Quran and Ahadithes of Holy Prophet Muhammad (Sallalahu Ailehe Wasallam). The beginning of formal Islamic financial institutions in 1970s lead the financial world to a new era. Since then financial experts are analyzing products. Main hub of Islamic finance is South East Asia,...