Islamic finance—the premises of which prohibits riba, or the payment of interest, requires that economic action be grounded in exchanges of actual, not speculative products, and shared profits and losses—is a booming industry worldwide. Few countries have committed greater financial, institutional, and educational support to its development than Malaysia. Launching its first full-fledged Malaysian Islamic bank, Bank Islam, in 1983, today Malaysia boasts the world’s third largest Islamic finance market (only Saudi Arabia’s and Iran’s are larger).