The system of finance based on Islamic law, also known as "Sharia," is referred to as Islamic microfinance. It combines the elements of "Islamic Finance" and "Microfinance." The key feature of Islamic finance that differentiates it from conventional finance is the non-existence of a fixed, pre-determined interest in any financial transaction. Islamic microfinance is increasingly playing a major role in poverty alleviation in underdeveloped nations across the world. A huge segment of the Islamic population is reluctant to use conventional financial products because of their incompatibility with Islamic principles. As a result, Islamic microfinance promotes financial inclusion among this population.