What restrictions does Islamic law impose on financial and business dealings? What does a "sharia-compliant" product or service really mean? How different are Islamic finance and banking institutions from their Western ones? In this study, the author examines Islamic texts and documents governing the practices of some financial institutions serving Muslims around the world to identify the legal and ethical rules that distinguish Islamic practices from their counterparts. Through sample cases and scenarios, the author identifies the limitations of Islamic finance and exchange laws and argues for reform that must take into account the moral and functional depravity inherent in the exploitation of the poor and persons in need.