The realization of resolution(s) made in Workshop on Textbook on Islamic Economics held at the IDB Headquarters, Jeddah on February 27th-28th, as well as Special Workshop on Islamic Economics 2006 in Malacca on April 28th (or known as Malacca Islamic Economists Circle) respectively, i.e Islamic economists have strong-willed to prepare textbooks that can be used to support the Islamic Economics program offered at the university level around the globe. For that reason, InshaAllah, we firmly believe that this textbook is highly relevant to achieve the resolution. This book is organized in two parts: first part will be on theory and concept in the contract of exchange. Second part will be on the application of the theory and concept in the Islamic finance industry.