Islamic stock screening bodies are vital due to the increase in the numbers of mixed companies in the world. This creates a dilemma as there is no uniform Islamic stock screening procedure followed by the screening bodies. This has created confusion among the investors to some extent. The objective of this paper is to provide an overview of the criteria used in the screening process and also to examine the different methods and approach used by the different providers of stock screening solutions. The questions addressed in this paper are; whether the different procedures and yardsticks used to screen stocks are acceptable; whether the procedures inhibit the growth of Islamic equities in the global market; and whether there is a need for uniform stock screening procedures worldwide.

This research aims to explore the theoretical nature of salam contract in depth, the extent of its use in the banking arena of Malaysia and to test the theoretical feasibility of its future application by the Islamic banks in Malaysia by suggesting an Islamic banking product structure based on salam contract. Salam contract is more susceptible to risks than the rest of the Islamic commercial contracts used by the Islamic banks in Malaysia and none of the Islamic banks in the country utilize this type of contract as a mode of financing. However, the research indicates that a feasible banking product based on salam contract could be formulated to help poor farmers in the country. To prove this a new model product based on salam contract to help farmers is created by the authors and the pros and cons of the product with the risk mitigating ways are explored. It is found that theoretically, this product is workable. This research will complement the knowledge based on practical applicability of salam and is targeted to the Islamic financial Institutions in Malaysia, who are the prospective beneficiaries.