Question: What are the major modes of Islamic banking and finance?

Answer: The following are the modes of finance which are or three categories:

1) Participatory modes of Finance

a) Mudarabah

b) Musharakah

2) Sub contracts

a) Wakalah

b) Kafalah

c) Rahn

3) Non Participatory modes of Finance

a) Murabaha

b) Musawamah

c) Salam

d) Istisna

e) Ijarah

f) Ijarah wa Iqtina (Ijarah Muntahiyyah Bittamleek)