The book outlines origins of Islamic economics Principles in Shari’a, covering its characteristics, economic problem, and government intervention, public versus private property, work ethics, Al-Hisba and social justice. Theories of the demand for money in western economies are presented followed by an analysis of the meaning, nature, characteristics, and role of money in Islam. Factors affecting the demand for money in an Islamic economy are emphasized. The meaning and features of Riba, its types and economic consequences are discussed. Thorough analyses of the objectives of Islamic banking in theory and practice, types and sources of deposits, and various forms of Riba-free financing operations are in order. Monetary and prudential control in both systems is considered emphasizing religious supervisory responsibility and the Central Bank of Kuwait instructions. Islamic money and capital market is acknowledged by dwelling on sukuk instruments. Transition in practice is analyzed shedding light on Kuwait experience and the macro and microeconomic efficiencies of Islamic model compared with conventional one.
The first comprehensive guide to Islamic financial markets Based on the course taught at the International Islamic University Malaysia, this is the first book on Islamic finance to focus exclusively on money and capital markets. Covering basic concepts as well as current practices in Islamic financial markets, the book features case studies from real markets. It outlines the theory of money in terms of value, supply, and demand, while explaining the Islamic capital markets in terms of classifications, types of operations, valuations of securities, Islamic unit trust, ETFs, Islamic stock broking, and much more. Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance The first guide to Islamic finance focused solely on money and capital markets An excellent introduction to money market principles for students in Islamic banking and finance, as well as researchers and current practitioners, Fundamentals of Islamic Money and Capital Markets is a vital resource on the subject.
Introduction to Islamic Banking and Finance is a succinct guide to the key characteristics of Islamic banking highlighting how these differ from conventional banking. This detailed book illustrates how Islamic banking is consistent with the Sharia'a, a key element of which is the prohibition on collecting and paying interest. This central religious precept appears to rule out most aspects of modern finance but it does allow money to be used for trading tangible assets and business, which can then generate a profit. Brian Kettell's book looks at all aspects of Islamic banking, including chapters on its creation and evolution through to detailed discussions of the issues involved in the Sharia'a contracts of Murabaha, Mudaraba, Musharaka, Ijara, Istisna'a, and Salam. Islamic insurance (Takaful) is also covered. Finally the book takes a look at Sharia'a law and Sharia'a boards, indicating the roles and responsibilities that come with membership. Islamic banks have been operating in places such as Bahrain, Saudi Arabia, Malaysia and Dubai for some time. Conventional bankers have traditionally viewed the sector as a small, exotic niche but recent years have seen a dramatic surge in popularity. A number of Western investment banks have started working with Muslim clerics to create new ranges of financial products designed for devout Muslims, a large and growing market. Although estimates of the size of the Islamic finance industry vary greatly, everyone agrees that it is expanding rapidly and this is the perfect book for anyone looking to understand the industry.
Islamic banking and finance has made a significant inroad in the international financial markets that have an achieved growing global awareness. The development of Islamic banking and finance is spread all over the world especially in muslin country. By looking at the Islamic financial infrastructure, the development of this industry in Malaysia is really robust and fast growing. The market has highly diversified players with the Islamic banks, investment banks, takaful companies, development financial institutions, savings institutions, fund management companies, stock brokers and unit trusts. The objective of this research paper is to provide an explanation about growth in Islamic banking and finance in Malaysia in term of its development and future challenges.
The ongoing turbulence in the global financial markets has drawn attention to an alternative system of financial intermediation: Islamic banking and finance. This is now one of the fastest growing sectors within the market place and has, so far, remained on the sidelines of this unrest. Since the inception of Islamic banking thirty years ago the number and reach of Islamic financial institutions worldwide has risen significantly. Institutions offering Islamic financial services constitute a significant and growing share of the financial system in several countries, and market participants everywhere are joining the race to study and be a part of this emerging financial system. The Islamic Banking and Finance Workbook is a one-of-a-kind workbook on the topic, enabling readers to test their understanding of Islamic banking and finance concepts. Although suitable as a standalone learning tool, the book is designed to test the information covered in the companion book, Introduction to Islamic Finance and Banking, and covers the fundamentals of Sharia'a law, the Islamic contracts interpretations and definitions, Murabaha, Mudaraba, Musharaka, Istisna'a, Salam and Ijara modes of finance, Takaful and much more. Emphasis is placed on mini case studies, multiple choice questions and tests of the basic concepts. It also includes a full answer key and brief chapter summaries, as well as learning objectives. The Islamic Banking and Finance Workbook is an essential learning tool for students and practitioners who want to test their knowledge of the rapidly growing world of Islamic banking and finance.
Islamic banking is not a totally new concept in the world. However, there is still a dearth of basic as well advance level literature on different aspects of Islamic banking. This monograph is based on extensive literature review, discussions with eminent scholars and discussion forums on different aspects of Islamic banking. We have tried to cover each related topic in easy an understanding way, so that most of readers can benefit from it. A general concept is added for conventional banking, and detailed concepts and practical implications of Islamic banking are included. We have used terms Islamic banking, shariyya banking, Islamic bank and shariya bank simultaneously, with an operational definition of “a banking system operating on the principles of Islamic economy and teachings.”
This book aims at providing clear and concise view for those who have passion to know about Islamic Banking and Finance. The author welcomes readers' comment and suggestions on firstname.lastname@example.org Author is also a freelance writer of other so many online journal and publications. Author has also written one book on Capital Market and Investment Management with one of the publications in India. This is his third attempt to write a book in the field of finance.
Islamic Banking, the Shariah (Islamic law) compliant banking for Muslims, is unarguably at the nascent stage of its development as a financial competitor and alternative to the conventional interest – based banking system practiced around the world. This research work looks into the principles of Islamic banks of Pakistan and focusing three Islamic Banks in Pakistan. The research work analyzes the findings of three banks made by interviews and compare with the conventional banking system, to check that are the principles different or same. This thesis is qualitative in nature, based on theoretical and empirical findings.
Commercial Bank of God? Islamic Banking and Law & Religion in Kenya introduces Islamic banking generally, a practice growing by leaps and bounds in East Africa. Besides explaining the nuances of Sharia compliant transactions, the book lays out the legal, social and religious context and framework that the (arguably) novel practice must navigate in order to flourish in the region. It explores the question of church (religion) and state relationship, in particular the place of Islamic law in Kenya. This is a good read for the law and business student and teacher, practitioner, banker, business person, and law and policy maker.
The book aims at examining the Islamic Finance and Banking scenario in Indian context. An attempt has been made to present an overview of extent of Islamic baking practices and the awareness and perception about Islamic Banking and Islamic Micro-finance in India. The respondents perceived that the spirit of ‘social welfare’ in Islamic banking would be a motivating factor for them to choose Islamic banking if this comes into existence.As far as awareness on Islamic finance are concerned, study observes that people somewhat know about Islamic finance and feel that it would prove as an expeditious method for economic growth.The study was conducted to examine the risk and return of the S&P CNX Nifty Shariah and S&P CNX Nifty throughout the period from January 2007 to December 2011.The study found that performance of both the indices were under performing relative to risk-free rate of return as per risk-adjusted return, despite of which Nifty Shariah turned out to be less risky than Nifty index. Shariah compliant investment can serve better to those investors who have a cautious outlook and want to take less risk on investment so that their financial needs would be fulfilled.
A detailed look at the fast-growing field of Islamic finance and banking The guiding principle of Islamic finance has existed throughout Islamic history, yet modern Islamic banking has been around for a relatively short period of time. Author Amr Mohamed El Tiby is an expert in this field, and with this new book, he reveals how you can benefit from the use of Islamic banking strategies in your financial endeavors. Engaging and accessible, Islamic Banking shows the impact this approach has made on conventional banking since the 1950s, and why it's such a big player in the current market. It offers a unique look at various aspects of this field, including the salient features of Islamic banking that distinguishes it from non-Islamic banking, the development of the regulatory bodies and supervisory agencies that support the Islamic banking system, and much more. It also explores the nature of risk in Islamic banking and the issues of capital adequacy, corporate governance, transparency, and risk associated with Islamic banking. Discusses the history and development of Islamic finance Offers straightforward strategies for implementing Islamic finance into your business activities Sheds light on the effect of the global economic crisis on Islamic banks versus conventional banks Filled with in-depth insights and expert advice, this detailed analysis of Islamic finance will help you gain a firm understanding of how effective this proven approach can be.
The Term Islamic Banking is now not remained new in Pakistan. Islamic Banking has gained much recognition in Pakistan Financial Market. The conventional banking sector is the major competitor of Islamic banking. Higher competition demands Islamic banks to be more customers oriented and show superiority in their products and service. In order to acquire major market share, Islamic banks must consider their customers approach, satisfaction and awareness level towards it. Among issues covered in the study were customer’s understandings of Islamic banking in Pakistan and also the awareness, usage and satisfaction level with various Islamic banking products. It further analyzes the bank selection criteria of customers and service quality of bank. The study reveals that there is significant relationship between customers’ awareness of Islamic bank products/services and their education level and also there is relationship between customers’ satisfaction with various products/service and their length of relationship with bank.