In Singapore, Islamic finance products tend to be marketed, risk-managed and priced as analogous competitors to conventional instruments. For instance, takaful is marketed as 'Islamic insurance', sukuk is 'Islamic bonds', and AITAB or Al-Ijarah Thumma al Bai is 'Islamic hire purchase', writes Paul Ng in Singapore’s The Business Times. Ng, a former legal practitioner with experience in Islamic finance, now teaches law and economics at Ngee Ann Polytechnic.
