Intangible assets are regarded as one of the most important asset classes for financial institutions, and their importance and consideration is rapidly increasing. There are existing, well established conventional standards on intangible assets (IA); however the Shariah standard on IA is discussed rather minimally. Thus, this paper attempts to discuss the vital issues related to intangible assets: recognition and measurement, financing and trading, and zakāh, which represents a grey area for

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... Islamic finance industry. The research employs critical analysis. It aims to provide clarification on the concept of intangible assets from the point of view of the Shariah as well as an analysis of pertinent This article is partly based on the authors' publication namely 'ISRA Research Paper A Critical Analysis of Sharīʿah Issues in Intangible Assets,' No. 61/2013, with modification and addition.