Download or read book Contemporary Issues in Islamic Law Economics and Finance written by Flavia Cortelezzi and published by Taylor & Francis. This book was released on 2022-08-12 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores how Islam can impact the structures and performance of firms, financial institutions and capital markets across a range of countries and industries. The Islamic finance industry represents an important reality not only because of the oil wealth of the Gulf states, which have fueled demand for such financial services, but also for an increased demand from a growing Muslim population in the West that aspires to express a full and all-inclusive religious identity. The increased demand for Muslim financial institutions has prompted Western non-Islamic firms to begin providing these services in an interesting effort of acculturation to the new plural scenario. By adopting a multidisciplinary approach, which also takes into account the theological, legal and geopolitical framework, the book offers a comprehensive picture of Islamic financial tools, contracts and business opportunities. Drawing on different fields of expertise, it deals with various themes, such as the theological roots of Islamic economics and finance and its geopolitical impact; the EU policy of cooperation with MENA and GCC countries; the instruments of Islamic finance, its legal principle and ability to become an instrument for enhancing business opportunities; the functioning of Islamic banks; the development of capital markets within a financial model influenced by religious constraints and, finally, the new relationships of this religious financial system with Western legal systems. The book thus provides a complete and extensive overview of the practice of Islamic finance through the lenses offered by studies of economics and management. Providing a careful analysis and an integrated framework of geo-economic and political issues, the book will be a valuable resource for academics, researchers and professionals in International Business, Entrepreneurship and Small Business Management, Law and Religion and Intercultural Studies.

Download or read book Islamic Finance written by Mahmoud A. El-Gamal and published by Cambridge University Press. This book was released on 2006-07-03 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the practice of Islamic finance and the historical roots that define its modes of operation. The focus of the book is analytical and forward-looking. It shows that Islamic finance exists mainly as a form of rent-seeking legal-arbitrage. In every aspect of finance - from personal loans to investment banking, and from market structure to corporate governance - Islamic finance aims to replicate in Islamic forms the substantive functions of contemporary financial instruments, markets, and institutions. By attempting to replicate the substance of contemporary financial practice using pre-modern contract forms, Islamic finance has arguably failed to serve the objectives of Islamic law. This book proposes refocusing Islamic finance on substance rather than form. This approach would entail abandoning the paradigm of 'Islamization' of every financial practice. It would also entail reorienting the brand-name of Islamic finance to emphasize issues of community banking, micro-finance, and socially responsible investment.

Download or read book Critical Issues and Challenges in Islamic Economics and Finance Development written by Velid Efendić and published by Springer. This book was released on 2017-05-04 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores contemporary issues and trends facing Islamic banks, businesses and economies as presented at the International Conference of Islamic Economics, Banking and Finance. The authors leverage current empirical research and statistics to provide unique and fresh perspectives on the changing world of Islamic finance. They focus specifically on to the implementation of Islamic financial instruments and services in global capital markets and how their success can be evaluated. Chapters feature case studies from all over the world including examples from Afghanistan, Bosnia and Herzegovina and the United Kingdom, to name a few. The breadth and immediacy of the research presented by the authors will appeal to practitioners and scholars alike. The global outlook and rich data-based approach adopted in this book guarantee that it is a timely and valuable addition to the field of Islamic finance.

Download or read book Contemporary Issues in Islamic Social Finance written by Hussain Mohi-ud-Din Qadri and published by Routledge. This book was released on 2021-08-11 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: The development of Islamic banking and finance (IBF) previously centred around three regions of the world: the Middle East, Southeast Asia, and South Asia. However, in recent years, this has expanded, as interest in IBF has gained momentum in Australia, the USA, and Europe, especially in the UK. Several Western market players have established their own Islamic window or subsidiaries to cater to the need of growing Muslim populations in these regions. This book examines the recent developments in IBF, particularly in the context of Islamic social finance instruments, such as Islamic microfinance, halal education, takaful, mutual funds, and waqf. It covers the religiosity, spirituality, and tawhid index, which promotes social well-being and empowerment. The book is interdisciplinary, and theories, practice, and key issues are presented simultaneously, introducing new ideas and techniques to the IBF community. Moreover, the book examines topics such as innovation in Islamic social finance instruments, advanced techniques of risk mitigation in Islamic capital markets, marketing and the halal industry, and shari’ah-compliant instruments, which are critical to Islamic finance. The book is an essential reference text for academics and research students at the master’s and doctorate levels in IBF.

Download or read book Contemporary Issues in Islamic Finance written by Andrew C. Worthington and published by Nova Science Publishers. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance is one of the fastest growing segments in the global financial market. However, while the principles and concepts of Islamic finance date since the founding of Islam, it is only recently that widespread application and practice has developed. Further, while predominately Muslim countries obviously fuel the growth of Islamic finance world-wide, both Islamic and conventional financial institutions in countries with smaller Muslim populations, including the UK, the US, and in Europe, are increasingly providing Shariah-compliant financial products and services. The recent global financial crisis especially has encouraged customers and regulators in many countries to consider Islamic finance as an alternative to conventional financial systems. This book compiles recent and cutting edge research in Islamic finance, including Islamic banking, and provides a useful starting point for discussion and policy formulation for academic, industry and government researchers, practitioners, policymakers, and students alike throughout the world. Contributors to the volume include academics with Islamic finance expertise and practitioners and policymakers with a long history of involvement in the sector from across four countries. This mix ensures that the book has comprehensive coverage of many of the issues involved, is highly accessible to the professional and non-professional reader alike, and that it will serve as an authoritative source of information on Islamic finance for years to come.

Download or read book New Issues in Islamic Finance and Economics written by Hossein Askari and published by John Wiley & Sons. This book was released on 2011-12-19 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Issues in Islamic Finance & Economics: Progress and Challenges provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.

Download or read book Modern Perspectives on Islamic Law written by E. Ann Black and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book presents an invaluable contribution to the debate on the compatibility of Islam and modernity. It is full of arguments and examples showing how Islam can be understood in line with modern life, human rights, democracy, the rule of law, civil society and pluralism. The three authors come from different countries, represent different gender perspectives and have a Shia, a Sunni and a non-Muslim background respectively which makes the book a unique source of information and inspiration.' Irmgard Marboe, University of Vienna, Austria This well-informed book explains, reflects on and analyses Islamic law, not only in the classical legal tradition of Sharia, but also its modern, contemporary context. The book explores the role of Islamic law in secular Western nations and reflects on the legal system of Islam in its classical context as applied in its traditional homeland of the Middle East and also in South East Asia. Written by three leading scholars from three different backgrounds: a Muslim in the Sunni tradition, a Muslim in the Shia tradition, and a non-Muslim woman the book is not only unique, but also enriched by differing insights into Islamic law. Sir William Blair provides the foreword to a book which acknowledges that Islam continues to play a vital role not just in the Middle East but across the wider world, the discussion on which the authors embark is a crucial one. The book starts with an analysis of the nature of Islamic law, its concepts, meaning and sources, as well as its development in different stages of Islamic history. This is followed by accounts of how Islamic law is being practised today. Key modern institutions are discussed, such as the parliament, judiciary, dar al-ifta, political parties, and other important organizations. It continues by analysing some key concepts in our modern times: nation-state, citizenship, ummah, dhimmah (recognition of the status of certain non-Muslims in Islamic states), and the rule of law. The book investigates how in recent times, more and more fatwas are issued collectively rather than emanating from an individual scholar. The authors then evaluate how Islamic law deals with family matters, economics, crime, property and alternative dispute resolution. Lastly, the book revisits certain contemporary issues of debate in Islamic law such as the burqa, halal food, riba (interest) and apostasy. Modern Perspectives on Islamic Law will become a standard scholarly text on Islamic law. Its wide-ranging coverage will appeal to researchers and students of Islamic law, or Islamic studies in general. Legal practitioners will also be interested in the comparative aspects of Islamic law presented in this book.

Download or read book Islamic Finance written by Syed Nazim Ali and published by Debolsillo. This book was released on 2005 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Islamic Finance and Law written by Maha-Hanaan Balala and published by Bloomsbury Publishing. This book was released on 2010-10-30 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic commercial and financial practice has not experienced the trial-and-error style of development that has characterised the development of the common law in the English-speaking world. Many of the principles, rules and practices prevalent in the Islamic law of contract, commerce, finance and property remain the same as those outlined by the Quran and the Prophet Muhammad, and expounded by scholars of jurisprudence as far back as the 13th century, despite the advancement in time and sophistication of commercial interaction. Hanaan Balala here demonstrates how, in order to bridge the gap between the principles outlined by the Quran and the Prophet in the 7th century and commercial practice in the 21st century, Islamic finance jurisdictions need to open themselves to learning from the experience (including the mistakes) of the English common law. 'Islamic Finance and Law: Theory and Practice in a Globalized World' provides an analysis of the fundamental principles underlying the Islamic law of contract and commercial practice in comparison with their equivalents in common law in the English-speaking world. It seeks to draw parallels (and differences where appropriate) to facilitate the growth and development of Islamic commercial and financial law globally.

Download or read book What Is Wrong with Islamic Economics written by Muhammad Akram Khan and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔI read with great interest the current state of Islamic economics and finance as examined by Muhammad Akram Khan, who has given a fresh outlook for the readers to find out its limitations and to search for its solutions. Khan has read widely in the subject matter, and presented his views with reference to literature and thoughtful and logical arguments. While many may not agree with his arguments or will have a better explanation, I find his arguments at least worthy of examination to strengthen the arguments of those who might oppose him. Although Khan is critical of the subject matter, he is very sympathetic to the greater objectives of Islamic economics and provides his own prescriptions to achieve those objectives.Õ Ð M. Kabir Hassan, University of New Orleans, US ÔThis is a very thought provoking book coming at a crucial stage in the development of Islamic economics and finance. Although the reader may not agree with some of the conclusions reached, it is clearly a scholarly and extensively researched piece of work; it should be read by all serious students of the subject area. Amongst other things, it throws light on the reasons why the practical implementation of Islamic economics and finance, particularly in relation to the financial system and financial institutions, has not always conformed to the true theoretical foundations laid down by Islamic scholars.Õ Ð John Presley, Loughborough University, UK and recipient of Islamic Development Bank Prize in Islamic Finance, 2001Ð2002 ÔÒIslamic economic system is a type of capitalism with a spiritual dimensionÓ is a major conclusion of this book. I applaud this insight of Muhammad Akram Khan. The same can be perhaps said of Islamic finance, which, in its hurry to build viable and efficient financial institutions, has ignored the very same need to start with profits-and-risk-sharing principle and no-riba principles to build pricing models to anchor the new sub-discpline. The good news is that, in the course of time to come, AkramÕs advocacy may be realised since such serious works have already begun.Õ Ð Mohamed Ariff, University Putra Malaysia and Bond University, Australia ÔAlthough there are many books on Islamic economics, this critical, but sympathetic, account by Muhammad Akram Khan is worthy of attention. The author has clearly read widely on the subject and appreciates the limitations of much that he has read. Islamic economics is a work in progress and by focusing on its shortcomings, Khan challenges the assumptions of many working in the field. His discussion of methodology is insightful, and even the prohibition of riba, for many the defining characteristic of Islamic finance, is examined from a fresh perspective. While many will not agree with the analysis and the conclusions, even critics should be able to appreciate the strengths of the arguments made. In summary this is a worthwhile, and in many respects an innovative, survey of the state of Islamic economics and finance. It deserves to be widely read.Õ Ð Rodney Wilson, Durham University, UK What is Wrong with Islamic Economics? takes an objective look at the state of the art in Islamic economics and finance. It analyses reasons for perceived stagnation and also suggests a way forward. As well as probing various myths, the book presents several innovative ideas and a methodology for developing the subject on new foundations. It also highlights weaknesses in the conventional position on prohibition of interest, which has led Islamic banks devise a series of legal tricks. The author notes how the original aim of devising a new brand of banking has become less prominent whilst Islamic banks now position themselves more closely to conventional banks. The book also offers insights into how certain traditional thinking has seemingly ignored the egalitarian spirit of the law of zakah and created a scenario where zakah is not able to help the billions of poor people around the globe. This detailed book will appeal to students, professors, researchers, Islamic banks and finance houses, consulting companies, accounting firms, and regulatory bodies. Professional economists, libraries in research and training organizations, as well as anyone with a general interest in the topic will find much to interest them.

Download or read book Risk Sharing Finance written by Saad Bakkali and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-05-10 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contemporary finance deals mainly with multilateral and multi-counterparty transactions. Islamic Jurisprudence (Fiqh) has yet to develop its conceptualization of this modality of financing. Thus far, it has become a norm for large financing projects to rely on a complex structure of interconnected bilateral contracts that in totality becomes opaque, complex and costly. An unfortunate result of the unavailability of an efficient Fiqhi model applicable to modern multilateral and multi-counterparty contracts has been the fact that the present Islamic finance has been forced to replicate conventional risk-transfer (interest rate based) debt contracts thus drawing severe criticisms of duplicating conventional finance. In 2012, a gathering of some of the Muslim world’s most prominent experts in Jurisprudence (Fuqaha) and economists issued the Kuala Lumpur Declaration (Fatwa) in which they identified risk sharing as the essence of Islamic finance. The Declaration opened the door for a new Fiqh approach to take the lead in developing the jurisprudence of multilateral and multi-counterparty transactions. This Declaration (Fatwa) provides a prime motivation to search for a comprehensive model of risk sharing that can serve as an archetypal contract encompassing all potential contemporary financial transactions. From the perspective of Islamic Jurisprudence (Fiqh), the technicalities of the concept of risk sharing in contemporary finance have yet to be defined in Islamic literature. This book attempts to clarify and shed light on these technicalities from the perspective of Fiqh. It is a comprehensive study that relies on the fundamental Islamic sources to establish a theoretical and practical perspective of Fiqh encompassing risk-sharing Islamic finance as envisioned in the Kuala Lumpur Declaration of 2012. This new paradigm should lead to a more efficient approach to multilateral and multi-counterparty Islamic contracts which, here-to-fore has been lacking in the current configuration of Islamic finance.

Download or read book Islamic Finance in the Light of Modern Economic Theory written by Suren Basov and published by Springer. This book was released on 2016-12-01 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides researchers and students with an understanding of the basic legal tenets of the Islamic finance industry, studying the real economic effects of those tenets using the tools of the modern economic theory. Split into four parts, the book begins with an introduction to the history and a legal framework for Islamic banking, covering typical Islamic financial products such as Sukuk and Takaful and examining the structure of Islamic financial institutions. It then analyzes and discusses the Miller-Modigliani Theorem, which is of direct relevance to Islamic banks which are prohibited to charge interest and often have to rely of profit-loss sharing agreements. Part III of the book introduces the reader to modern mechanism design theory, paying particular attention to optimal contracting under hidden action and hidden information, and final part of the book applies the tools of economic theory to understand performance of Islamic financial institutions such as Islamic banks and Takaful operators. Islamic Finance in Light of Modern Economic Theory brings together all the necessary technical tools for analyzing the economic effects of Islamic frameworks and can be used as an advanced textbook for graduate students who wish to specialize in the area, as a reference for researchers and as a tool to help economists improve the design of Islamic financial institutions.

Download or read book Islamic Law of Trade and Finance written by Mohd. Ma'sum Billah and published by . This book was released on 2001 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Theory and Practice of Modern Islamic Finance written by Abu Umar Faruq Ahmad and published by Universal-Publishers. This book was released on 2009-12 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: " ... Seeks to contribute to the existing body of work in the area of Islamic finance through examining the extent of divergence in practice of Islamic financing from the traditional Shari'ah in the Australian context. The author makes a discursive analysis of the regulation of Islamic finance in Australia in terms of (a) the financing instruments used, (b) certainty of transactions between participants in the system, and (c) institutional risk management of Islamc financial institutions."--Back cover.

Download or read book Current Issues in Islamic Banking Finance written by Dr. Saad Al-Harran, Alfred Yong Foh Se and published by Xlibris Corporation. This book was released on 2008-09-27 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance with social responsibility (IFSR) is the new theme of this book. It has been introduced to the general public and is now being promoted by the author through his own writing on Islamic Finance News. I am thankful to its chairman who encourages me to continue writing so those in power in Islamic finance institutions can benefit from my expertise and knowledge in this field. I hope some of my innovative business ideas that I promote in this book will be implemented in order to give hopes to young generation that IFSR is the new vehicle for change for the betterment of mankind in this universe. The main purpose behind introducing the new concept (IFSR) is the food crisis that hurts the poor and needy badly and has now started to adversely affect a wider segment of societies in Asia, Africa, and Middle East due to soaring food costs and the rise of inflation that may trigger civil unrest in many parts of the Muslim world (MW). The cause’s of the surge in food crisis is the massive production of biofuels, which is “a crime against humanity” according to a UN official because of its impact on global food prices that has completely ruined agriculture and will starve millions of people.

Download or read book Current Issues in Islamic Banking and Finance written by Angelo M. Venardos and published by World Scientific. This book was released on 2010 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The phenomenal worldwide development over the past decade of Islamic banking and finance is drawing much attention to South East Asia, which, on the platform of its own economic growth success, is also proving to be the gateway for Middle Eastern petrodollar investments into the two great emerging markets of India and China. This book provides a timely examination of the issues confronting this US$300-US$500 billion market growing at 15 per cent - 20 per cent per annum, with reviews of the different financial markets, be they capital (sukuk), retail or wealth management.It further includes reviews from the various jurisdictions including Malaysia (the front-runner), Singapore (the regional financial hub), Brunei (an offshore Islamic market player) and the sleeping giant, Indonesia, as well as newly emerging participants such as Japan and the United States. Contributors, all well-known leading practitioners in their fields, range from lawyers, accountants, bankers and educators to policy advisors, and come from institutions like CIMB, Kuwait Finance House, OCBC Bank and PricewaterhouseCoopers, among others.This book, the first of its kind, will be of great benefit to those seeking to better understand current developments and issues affecting Islamic banking in South East Asia, from both global and regional perspectives.

Download or read book CONTEMPORARY ISSUES IN FINANCIAL REPORTING OF ISLAMIC FINANCIAL INSTITUTIONS Penerbit UMK written by Zulkarnain Bin Muhamad Sori, Sazali Bin Abdul Wahab, Mahmoud Al Homsi and published by Penerbit UMK. This book was released on 2020-12-01 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents contemporary issues in financial reporting of Islamic financial institutions. Two key areas are covered namely, accounting for Islamic financial transactions and shariah governance. The main motivation to publish this book is to share our understanding on the unique nature of Islamic finance industry and the approach to be taken in accounting and reporting of Islamic financial transactions. Also, the book illustrate the importance of shariah governance in ensuring end-to-end shariah compliance. This book is to provide a practical guidance to researchers, industry practitioners and the others stakeholders.