A competitive environment within the dual system caters a special advantage for the promotion
of Islamic wealth management services through product innovation and development. However,
it demands close scrutiny from Shari’ah perspective to ensure the legitimacy of the product. In
many instances, as evidenced in the case of AITAB, the Islamic financial products are
repackaged along the features of conventional financial products, while eliminating elements that
are not in-compliant with the Sharī’ah. While the adaptation will still continue, Islamic financial
products are likely to expose to certain conventional practices that are in conflict with Shari’ah
principles, thus rendering the practice to be invalid. Islamic bankers and Muslim scholars have
attempted to resolve some basic and operational issues in order to make AITAB operation more
viable and acceptable by Shari’ah.