Practically, the Islamic industry currently is bank-based. Product diversification, albeit slow, is emerging but returns are engineered to ensure conformity and convergence with conventional industry. Re-engineering and engineering in IF can be grouped as follows: (i)  1  2  Islamic synthetic products. Adopting reverse engineering, a number of Islamic products have been designed as conventional product equivalents.
1 Three core  Zamir Iqbal and Abbas Mirakhor: “An Introduction to Islamic Finance: Theory and Practice.” 2006.