Download e-book for iPad: An Introduction to Islamic Finance: Theory and Practice, by Zamir Iqbal

By Zamir Iqbal

ISBN-10: 0470828080

ISBN-13: 9780470828083

ISBN-10: 1118390474

ISBN-13: 9781118390474

The first e-book to provide finished insurance of Islamic finance and banking and its functions to the remainder of the realm, now absolutely revised and updated

the continuing overseas monetary difficulty has reignited debate over the advance of a risk-sharing economic system, corresponding to that required in Shariah legislation. An creation to Islamic Finance: concept and perform, moment Edition highlights the center ideas of danger sharing in Islam, arguing risk-sharing economic system is strictly what we have to advertise higher monetary stability.

offering finished insurance of the basic concept in the back of Islamic finance and banking, in accordance with the middle techniques of Shariah legislations, authors Zamir Iqbal and Abbas Mirakhor basically clarify the special gains of an Islamic economic system and the way it compares with conventional monetary versions. Addressing the myriad vital advancements that experience taken position in recent times, this moment version seems to be to the longer term, addressing rising concerns bound to effect destiny advancements in Islamic finance.

  • Explores the original beneficial properties of an Islamic economy, how they examine to extra conventional monetary structures, and the way they can enhance them
  • Discusses all of the latest advancements and rising concerns in Islamic finance
  • Updated with the newest advancements, developments, thoughts, and records, this re-creation beneficial properties extra chapters at the monetary challenge, globalization, non-bank monetary associations, and up to date advancements in Takaful (Islamic insurance)

the 1st variation of An advent to Islamic Finance tested the ebook because the industry chief, and this newly revised and up-to-date moment variation accommodates the latest advancements during this booming monetary region, together with monetary balance, globalization, and non-banking monetary institutions.

Chapter 1 creation (pages 1–27):
Chapter 2 the industrial approach (pages 29–56):
Chapter three Riba vs. cost of go back (pages 57–74):
Chapter four monetary tools (pages 75–98):
Chapter five hazard Sharing as a substitute to Debt (pages 99–112):
Chapter 6 The Islamic economic system (pages 113–136):
Chapter 7 the steadiness of the Islamic economic climate (pages 137–149):
Chapter eight Islamic monetary Intermediation and Banking (pages 151–172):
Chapter nine Capital Markets (pages 173–205):
Chapter 10 Non?bank monetary Intermediation (pages 207–224):
Chapter eleven functionality of Islamic monetary companies (pages 225–243):
Chapter 12 monetary Engineering (pages 245–273):
Chapter thirteen threat administration (pages 275–298):
Chapter 14 legislation of Islamic monetary associations (pages 299–322):
Chapter 15 company Governance (pages 323–349):
Chapter sixteen Globalization and its demanding situations (pages 351–363):
Chapter 17 concerns and demanding situations (pages 365–392):

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Additional resources for An Introduction to Islamic Finance: Theory and Practice, Second Edition

Sample text

If absolutes can be compared, it can be safely said that the right of ownership in Muslim law is more absolute than it is in the modern system of law. . The Muslim concept of property and right is less restricted than is the modern concept of these institutions. (Habachy 1962) The Shari’ah outlines the obligations concomitant with property rights. Among the obligations is, first, the responsibility of sharing the proceeds or the use of property—and, secondly, the obligation not to waste, destroy, squander, or to use the property for purposes not permitted by the Shari’ah.

4 which lists growth rates of assets and deposits in selected countries in the Middle East and North Africa (MENA) region. 28 Yemen MENA Region Source: Ali, Syed Salman (2011), Islamic Banking in the MENA Region, Washington, DC, USA. pdf the growth rate was high during the 2006–2007 and 2007–2008 period but there were signs of a slowdown after that. This can be attributed to economic slowdown after the financial crisis. In general, the trend is that competition is increasing for Islamic banks, as conventional banks are also pursuing this business aggressively.

In that case, imposition by fiat of an Islamic economic superstructure, whatever that may mean under the circumstances, will not produce the desired result. But once the rules are known and understood, individuals, the government and society at large all have the duty and the responsibility to ensure compliance and enforcement. More specifically, Islamic economics can be considered as a discipline concerned with: (a) the rules of behavior (institutions) prescribed by Islam as they relate to resource allocation, production, exchange, distribution and redistribution; (b) the economic implications of the operations of these rules and; (c) the incentive structure and policy recommendations for achieving compliance that would allow convergence of the actual economy with the ideal economic system envisioned by Islam.

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An Introduction to Islamic Finance: Theory and Practice, Second Edition by Zamir Iqbal

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