Although still a small share of global finance, Islamic finance has grown rapidly over the past decade and is projected to continue to expand. The growth of Islamic finance presents opportunities to improve access to finance for the large underserved Muslim populations, and for small- and medium-sized enterprises, opportunities to facilitate investment in public infrastructures and to promote financial stability. However, for the potential to be realized and to safeguard financial stability, a number of challenges will need to be addressed. In their IMF Staff Discussion Note (SDN 15/05), entitled “Islamic Finance: Opportunities, Challenges and Policy Implications,” the authors discuss the macroeconomic and financial stability implications of Islamic finance and the policy options. This article provides brief answers to seven commonly asked questions about Islamic finance, drawing on the findings of recently completed analytical work.