mudaraba, thereby enabling the operation of the mudaraba to be properly controlled and its results to be accounted for with precision.

5 – Establish a commercial market for the exchange of commodities among Muslim countries, as an alternative to the international commodity markets that are not free of sharīʿa violations.

6 – Channel surplus liquidity toward the developmental goals of the Muslim world by having Islamic banks cooperate to support joint investment funds and to launch joint projects.

7 – Accelerate the creation of an Islamically acceptable benchmark to replace reliance on the usurious interest rate when determining profit margins in transactions.

8 – Broaden the structural base of the Islamic financial market by having Islamic banks, in cooperation with the Islamic Development Bank, expand the innovation and trading of Islamic financial instruments throughout the various Muslim countries.

9 – Urge the competent legislative bodies to lay down rules governing the Islamic investment modes—such as mudaraba, musharaka, muzaraʿa (share-cropping), musaqa (crop-sharing), salam, istisnaʿ, and ijara.

10 – Call upon Islamic banks to set up an information database that provides adequate data on those who deal with Islamic banks and on businesspeople, so that it can serve as a reference for Islamic banks, encouraging dealings with trustworthy, reliable clients and avoiding others.

11 – Invite Islamic banks to coordinate the activities of their Sharia supervisory boards—whether by renewing the Joint Sharia Supervisory Board for Islamic Banks or by establishing a new body—in order to arrive at unified standards for the work of Sharia boards in Islamic banking. Allah knows best.