Islam is viewed by Muslims as a way of life, where every aspect of life is regarded as worship of God. Thus, Muslims seek guidance from God, through the revelation in the Qur'an and the legacy of the Prophet Muhammad, to conduct their lives. In economic and financial matters also Muslims follow a number of principles as well as some injunctions and prohibitions.

Owning a home is regarded as one of the important aspects of a family's financial goals. Since most people cannot buy homes with full payment in cash, the role of financing is critical. As buying and owning homes has become more common than ever, Muslims either had to turn to conventional financial institutions for mortgage financing, or forego purchasing a house and live in a rented property and come up with resources from family and friends to accomplish that goal.

Exposure to risk of catastrophes and disasters involving accidents, loss of vital body parts, destruction of property/business/wealth and even death is an unavoidable reality of our life. Islam does enjoin belief in qadr (God's measures), but also provides guidance for minimizing such risk as much as possible. In the conventional framework buying an insurance policy to cover specific risk addresses such problems.

Asset/wealth management is very important in the modern, complex world of finance. Even though generally it involves professional management of a diversified portfolio for institutional investors (for example, insurance companies, pension funds, corporations, etc.) or high net worth individuals, increasingly investors of all financial capacities, including non-high-net-worth ones, are taking interest in professional asset/wealth management. Such management is commonly to meet specified goals or targets of the respective investors.