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Islamic Capital Market

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What is Islamic financial capital market? Islamic Capital Market (ICM) is one of the Islamic financial market in the framework of Islamic financial system. The Islamic Capital Market is a market in which the transactions are take place in the way that do not interfere with the principles of Islam such as religion of Islam and principles of Muslim. Thus, Islamic Capital Market is prohibited and free from the activities or elements which against the rules of Shariah principles such as prohibition of riba (usury), gahrar (ambiguity) and maisir (gambling). Moreover, Islamic Capital Market works parallel with the conventional capital market but Islamic capital market is compliance with the rulings of shariah. Most of the shariah compliant assets is carry out in Islamic Capital Market which provide opportunities to various investors who seek to invest in the shariah compliant investments. In fact, Islamic Capital Market help to enhance the economy growth of country. This market also do not deny for non-Muslims to take part in the market. Furthermore, Islamic Capital Market is financial market which can be classify into equity and debt capital market. This capital market facilitates the ability of channeling funds from the surplus to deficit among the borrowers which lacks of fund and investors which has excess of fund. Basically, government and business organizations raise fund through the capital market. The examples of equity market shariah compliant securities in Malaysia are Islamic unit trust, Islamic Real Estate Investment Trust (REIT) and Islamic Exchange Traded Fund (IETF).On the other hand, the examples of debt capital market in Malaysia is

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