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

By Zamir Iqbal

The first booklet to supply complete assurance of Islamic finance and banking and its purposes to the remainder of the realm, now totally revised and updated

The ongoing foreign monetary difficulty has reignited debate over the advance of a risk-sharing economic climate, corresponding to that required in Shariah legislations. An creation to Islamic Finance: concept and perform, moment Edition highlights the middle rules of probability sharing in Islam, arguing risk-sharing economic climate is strictly what we have to advertise larger monetary stability.

Providing accomplished insurance of the elemental concept at the back of Islamic finance and banking, in keeping with the middle thoughts of Shariah legislation, authors Zamir Iqbal and Abbas Mirakhor essentially clarify the unique positive factors of an Islamic economic climate and the way it compares with conventional monetary versions. Addressing the myriad very important advancements that experience taken position lately, this moment version seems to the long run, addressing rising matters guaranteed to impact destiny advancements in Islamic finance.

  • Explores the original gains of an Islamic economy, how they evaluate to extra conventional monetary structures, and the way they can increase them
  • Discusses all of the most up-to-date advancements and rising matters in Islamic finance
  • Updated with the newest advancements, developments, suggestions, and records, this new version positive factors extra chapters at the monetary drawback, globalization, non-bank monetary associations, and up to date advancements in Takaful (Islamic insurance)

The first version of An advent to Islamic Finance tested the e-book because the industry chief, and this newly revised and up to date moment version contains the newest advancements during this booming monetary region, together with monetary balance, globalization, and non-banking monetary institutions.

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Extra info for An Introduction to Islamic Finance: Theory and Practice

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10. Wilson (2007). 11. Ibid. 12. Oakley, David, ‘‘Capital Takes a Leading Role,’’ FT Report—Islamic Finance, May 23, 2007, Financial Times (London, UK). 13. RedMoney 2007. Introduction 27 14. Oakley, David, ‘‘Capital Takes a Leading Role,’’ FT Report—Islamic Finance, May 23, 2007, Financial Times (London, UK). 15. Martin, op. cit. 16. Financial Times, February 5, 2008. 17. aid=1696 18. For further details, see IDB (2005). 19. Alchaar (2006). 20. Kerr, Simon, Financial Times reports: Islamic Finance, May 24, 2007.

2. Chapra (2000). 3. ” 4. The verses emphasizing the principle of unity include: “And indeed this is my straight path therefore follow it—and do not follow other ways because that will lead to disunity amongst you” (6:153) “Grab hold of the rope of Allah collectively and do not disunite” (3:103) “Cooperate with one another unto righteousness and piety and do not cooperate with one another unto unrighteousness and enmity” (5:2). 5. The abbreviation “pbuh” (“peace be upon him”) invokes the peace and blessings of Allah (swt) on the Prophet, and is a sign of respect.

It is expected that because of prudent practices such as holding excessive liquidity and adequate equity capital, Islamic banks will weather this storm and will continue to grow their assets and deposits base. Islamic capital markets which grew rapidly were also impacted by the financial crisis. This is evident from the drop in the issuance of Islamic bonds (sukuk) in the post-crisis period. There were also several cases of legal disputes concerning sukuk which sent negative signals in the market and put downward pressure on demand.

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