Islam is a religion of scholarly inquiry and robust debate over how Shariah principles are to be interpreted in the modern world. These interpretations may vary across Islamic branches and among scholars. Islamic standard-setting authorities continue to emphasize Shariah values and provide guidance for religious investing. Founded in 1991, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has issued standards that codify philosophical teachings as a set of Shariah guidelines for Islamic financial institutions and investors.. These include negative-screening methodologies for Shariah-compliant investments, allowing investors to select Shariah-compliant stocks with de minimis revenue from haram activities.

While AAOIFI provides guidelines that have been adopted as mandatory by several central banks, such as those in Bahrain and Oman, it is nevertheless one of many standards, leaving room for interpretation depending on the teachings and preferences of specific organizations and individuals and their unique financial objectives and investment constraints.