This may seem like a silly question, because the apparent answer is that Islamic financial regulations were established thousands of years ago; to be more specific, they began in the 7th century, when Islam first emerged. But the question we're posing is when did modern financial institutions begin to include Islamic finance in their offerings.
In the early 1960s, banks and other financial institutions began formalizing and offering Islamic financial services. Because of the surge in oil riches, there was a greater demand and need for Sharia-compliant services.
