For a number of years, Islamic financing has been offered by both Islamic financial institutions (IFIs), as well as conventional banks. The principle of profit and loss sharing is a fundamental concept in Islamic finance as it is rooted in one of Sharia's main principles: risk taking. The primary reason is that Islamic finance deems any financing method based on riba to be non-Sharia-compliant due to the fact that contractors or parties (together the Partners) do not share in the elements of profit and loss, meaning that there is no element of equitable risk sharing in such a venture (with one party assuming more risk than the other).