Download or read book Islamic Banking A 300 Billion Deception written by Muhammad Saleem and published by Xlibris Corp. This book was released on 2006-01-30 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic banks currently control about $300 billion in assets. This book assesses the underlying rationale of Islamic banking, that the Quran prohibits all forms of interest. The author maintains that, first, a correct interpretation of the Quran, keeping in mind the context, would indicate that what the Quran prohibits is usury -exorbitant interest. Second, Islamic banks do not practice what they preach; they all charge interest, but disguised in Islamic garb. Thus they engage in deceptive and dishonest banking practices. The author also offers some policy recommendations, including the need for Ijtihad, Enlightenment, and critical thinking. Islamic banks, if they wish to practice genuine and authentic Islamic banking, should become more like venture capital firms.

Download or read book The Foundations of Islamic Banking written by Mohamed Ariff and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: After barely half a century of experience, Islamic banking has become established as a new niche industry across the world offering new and sophisticated financial products designed to be compliant with the principles of Islamic legal principles and common law. This comprehensive book explores the theory, principles and practices underpinning this rapidly expanding sector of banking. Expert contributors ¿ including eminent scholars and senior practitioners in the field ¿ examine the roots of the principles of ethical Islamic financial transactions, which have evolved over several millennia, on issuesincluding usury, interest rates, financial contracting for funding enterprises, for mortgages, for leasing and other financial transactions. Regulatory and governance issues are discussed, and the practice and operation of Islamicfinancial institutions are explained via three distinct case studies. Importantly, the final chapter looks at what steps are being taken to provide professional accreditation to Islamic banking professional personnel, and prescribes requirements for training in this growing industry.

Download or read book Product Development in Islamic Banks written by Habib Ahmed and published by Edinburgh University Press. This book was released on 2011-01-27 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book systematically studies the process of developing Islamic financial products for banks.

Download or read book The Objectives of Islamic Law written by Idris Nassery and published by Lexington Books. This book was released on 2020-07-06 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scholars, thinkers, and activists around the world are paying increasing attention to a legal reform method that promises to revolutionize the way people think about Islamic law. Known as “The Objectives of the Sharī‘a” (maqāṣid al-sharī‘a), the theory offers a way to derive and apply new Islamic laws using an ancient methodology. The theory identifies core objectives that underlie Islamic law, and then looks at inherited Islamic laws to see whether they meet those objectives. According to the maqāṣid theory, historical Islamic laws that meet their objectives should be retained, and those that do not—no matter how entrenched in practice or embedded in texts—should be discarded or reformed. Recently, several scholars have questioned the maqāṣid theory, arguing that it is designed not to reform laws, but to support existing power structures. They warn that adopting the maqāṣid wholesale would set the reform project back, ensuring that inherited Islamic laws are never fully reformed to agree with contemporary values like gender-egalitarianism and universal human rights. The Objectives of Islamic Law: The Promises and Challenges of the Maqāṣid al-Sharī‘acaptures the ongoing debate between proponents and skeptics of the maqāṣid theory. It raises some of the most important issues in Islamic legal debates today, and lays out visions for the future of Islamic law.

Download or read book Banking and Financial Institutions written by Benton E. Gup and published by John Wiley & Sons. This book was released on 2011-06-01 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to the evolving world of banking and financial institutions Due to various factors, ranging from the global financial crisis that began in 2007 to new laws such as the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, banks and financial institutions have had to alter the way they operate. Understanding how these institutions function in the face of recent challenges is essential for anyone associated with them. That's why Professor Benton Gup has created Banking and Financial Institutions. Opening with a detailed discussion of the causes of the recent financial crisis, as well as a look at some lessons we can learn from it and other crises, this reliable resource quickly moves on to put modern banking in perspective. Filled with in-depth insights and expert advice, Banking and Financial Institutions examines the essential aspects of this discipline and shows you what it takes to make the most informed decisions possible, whether you're a bank director, investor, or borrower. Explains the economic role of financial intermediaries, including the financial institutions that bring borrowers and savers together Addresses how banks can hedge some of their interest rate and credit risks by using various types of derivatives contracts, options, and futures Analyzes the process of commercial and industrial (C&I) lending, from how banks make loans and the types of C&I loans to the role of collateral Allows you to evaluate a bank's financial statements and performance Explores payments systems, including cash, checks, credit cards, wire transfers, and other means of payment Rounding out this detailed banking guide is an informative chapter on Islamic banking written by Professor Mohamed Ariff of Bond University, as well as a chapter filled with tips for bank directors, borrowers, and investors contributed by John Harrison, the Superintendent of Banks, Alabama State Banking Department.

Download or read book The World Market and Interreligious Dialogue written by Catherine Cornille and published by Wipf and Stock Publishers. This book was released on 2011-09-06 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fair and equitable distribution of wealth and the cultivation of proper attitudes toward material goods and economic development concern all religious traditions alike. In so far as the dynamics of the world market or the global economic system transcend the competency and control of any particular religion, dialogue between religions, as well as between religionists and economists becomes both possible and necessary. This volume brings together religious thinkers from various traditions as well as economists to reflect on the possibilities and the challenges of such dialogue.

Download or read book Islamic Finance in the Global Economy written by Ibrahim Warde and published by Edinburgh University Press. This book was released on 2010-05-15 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance is growing at an astonishing rate and is now a $1200 billion industry, with operations in over 100 countries. This book explains the paradox of a system rooted in the medieval era thriving in the global economy. Coverage is exhaustively comprehensive, defining Islamic finance in its broadest sense to include banks, mutual funds, securities firms and insurance (or takaful) companies. The author places Islamic finance in the context of the global political and economic system and covers a wide variety of issues such as the underlying principles of Islamic finance, the range of Islamic financial products, and country differences. He also discusses a number of economic, political, regulatory and religious concerns and challenges. This second edition has been completely revised and updated to take into account the great changes and developments in the field in recent times. It includes the impact of the 9/11 and 7/7 terrorist attacks on the industry, the new forms of interaction with Western financial institutions, the emergence of innovative products such as sukuk, attempts by a broad range of financial centres - including Kuala Lumpur, London, Singapore, Bahrain and Dubai - to become global hubs of Islamic finance, and the repercussions of the 2008 global financial meltdown on Islamic institutions.

Download or read book Islamic Finance written by David Eisenberg and published by OUP Oxford. This book was released on 2012-03-22 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work is a practical and commercial guide to the fundamental principles of Islamic finance and their application to Islamic finance transactions. Islamic finance is a rapidly expanding, global industry and this book is designed to provide a practical treatment of the subject. It includes discussion and analysis of the negotiation and structure involved in Islamic finance transactions, with relevant case studies, structure diagrams and precedent material supporting the commentary throughout. An introductory section describes the theoretical background and explains the principles (and their sources) of Islamic law which underpin Islamic finance practices, providing an important backdrop to the work as a whole. The work also considers the role of Shariah supervisory boards, Islamic financial institutions and the relevance of accounting approaches. The work adopts an international perspective to reflect the pan-global nature of the industry and accepted practices, with the aim to bring together different schools of thought applied in international Islamic finance transactions. It also highlights any regional differences in accepted practice by reviewing the position in the Gulf states, Asia, the UK and Europe and the USA. The second part of the book concentrates on Islamic financial law in practice and begins with a section on financial techniques. This section explains the basic requirements for Islamic finance contracts both in terms of the underlying asset types and also both the applicability and acceptability of the underlying asset. There is a full discussion of the various types of contractual models such as Mudaraba (trustee finance), Musharaka (partnership or joint venture), Murabaha (sale of goods), and Sukuk (participation securities: coupons etc). The nascent area of Takaful (insurance) is also covered as are matters specific to the important field of project and asset finance.

Download or read book Chasing a Mirage written by Tarek Fatah and published by John Wiley & Sons. This book was released on 2008-05-09 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Chasing a Mirage, Tarek Fatah Writes: Islamists argue that the period following the passing away of Muhammad was Islam's golden era and that we Muslims need to re-create that caliphate to emulate that political system in today's world. I wish to demonstrate that when Muslims buried the Prophet, they also buried with him many of the universal values of Islam that he had preached. The history of Islam can be described essentially as the history of an unending power struggle, where men have killed each other to claim the mantle of Muhammad. This strife is a painful story that started within hours of the Prophet closing his eyes forever, and needs to be told. I firmly believe the message of the Quran is strong enough to withstand the facts of history. It is my conviction that Muslims are mature and secure in their identities to face the truth. This is that story. Advance Praise for Chasing a Mirage "Tarek Fatah has written a provocative and challenging book which is a must read for anyone who cares about these issues." —Janice Gross Stein "Chasing a Mirage is an extremely valuable contributing to the fight by progressive Muslims against Islamist fascism. This book should be required reading for the Left in the West who have mistakenly started believing that Islamists represent some sort of anti-imperialism." —Farooq Tariq "Fatah argues passionatley for universalism instead of exclusivism, integration instead of ghettoism, and makes a powerful appeal for the silent majority of Muslims to speak out before it is too late. This work of courage and daring needs to be read widely." — Pervez Hoodbhoy "This fascinating work by brave and bri8lliant tarek Fatah is simultaneously thought-provoking, instructive and enlightening for laymen and scholars, Muslims and non-Muslim...an invaluable and rare addition to the corpus of Islamic literature in the post-9/11 world, a bold step towards Islamic Reformation and Enlightenment." —Taj Hashmi "Tarek Fatah's is a voice that needs to be heard. Canada needs a healthy, reasoned debate about the issues he is raising, and indeed so does the world." —Bob Rae "This fascinating work by brae and brilliant Tarek Fatah is simultaneously thought-provoking, instructive and enlightening for laymen and scholars, Muslim and non-Muslim... an invaluable and rare addition to the corpus of Islamic literature in the post-9/11 world, a bold step towards Islamic Reformation and Enlightenment." —Taj Hashmi "Tarek Fatah's is a voice that needs to be heard. Canada needs a healthy, reasoned debate about the issues he is raising, and indeed so does the world." —Bob Rae, Member of Parliament, Canada

Download or read book Business in Islam written by Robert J. Stefan and published by Wipf and Stock Publishers. This book was released on 2020-02-23 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: We are pleased to offer this fifth title in our APTS Press Monograph Series. This is the publication of the author’s doctoral dissertation done through the Concordia Theological Seminary in Fort Wayne, Indiana, USA. The purpose of this series is to give our readers broader access to good scholarship that would otherwise be unavailable outside of the academic community. This is part of our ongoing commitment to discipleship through publishing. Christian mission organizations have enthusiastically embraced “business” as a means of entry for Christian workers who might not otherwise be able to get into these nations, especially MMNs. However, the embracing of business raises some immediate concerns. In light of existing tensions between business and Islam, won’t missions-connected businesses be under the same cloud of conflict? More importantly, isn’t the Gospel put under this cloud, thereby negatively impacting the spread of the kingdom of God? Also, if the business-and-mission companies’ expatriate owners and employees are western (especially American) won’t the conflicts inevitably intensify? And if so, are there ways such entities can be operated in order to minimize the conflict with Islamic sensitivities? This book will address these and other related questions.

Download or read book Handbook of Islamic Marketing written by Özlem Sandıkcı and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔThis is an especially timely publication, given the current metamorphosis of politics in the Middle East and North Africa. ...zlem Sandõkcõ and Gillian Rice are to be congratulated for having sensed the need for a Handbook that will alert marketers to the vast market opportunities offered by Muslim consumers. It is essential to become attuned to the values and principles of Islamic cultures that will drive consumption, product and service choices, brand preference, and brand loyalty in coming years. The scholars who have contributed to this Handbook come from many different backgrounds to offer a kaleidoscope of research and recommendations on how best to serve this previously overlooked segment of consumers who make up a quarter of world markets.Õ Ð Lyn S. Amine, Saint Louis University, US ÔThis ambitious and timely collection will be enormously valuable to readers in the practice and study of the growing field of Muslim marketing and branding. Essays range expertly across key sectors (notably finance, food, and fashion) and territories (of Muslim majority and minority population). Contributors elaborate the diversity of Muslim experiences, beliefs, and practices that must be taken into account by marketing professionals seeking to exploit this newly recognized market. Academic authors provide helpful postscripts for marketers, making clear the links between their nuanced historicized understanding of contemporary transnational, global, and local forms of Muslim identity and practice. This book provides an essential guide to those who study and those who participate in Muslim branding and marketing.Õ Ð Reina Lewis, London College of Fashion, UK The Handbook of Islamic Marketing provides state-of-the-art scholarship on the intersection of Islam, consumption and marketing and lays out an agenda for future research. The topics covered by eminent contributors from around the world range from fashion and food consumption practices of Muslims to retailing, digital marketing, advertising, corporate social responsibility and nation branding in the context of Muslim marketplaces. The essays offer new insights into the relationship between morality, consumption and marketing practices and discuss the implications of politics and globalization for Islamic markets. This comprehensive Handbook provides an essential introduction to the newly emerging field of Islamic marketing. It is invaluable for researchers and students in international marketing who are interested in the intersection of Islam and marketing as well as those from anthropology and sociology studying Muslim consumers and businesses. The book also supplies vital knowledge for Muslim and non-Muslim business leaders generating commerce in Islamic communities.

Download or read book American Journal of Islamic Social Sciences 29 4 written by Farhan Chak and published by International Institute of Islamic Thought (IIIT). This book was released on 2012-09-01 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.

Download or read book Ethical Discourse in Finance written by Marizah Minhat and published by Springer Nature. This book was released on 2021-10-25 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ethical discourse is commonly not a priority in a conventional finance syllabus. Moral sentiments often take a back seat to market sentiments, even in shaping the direction of ethical finance business. This anomaly persists despite growing interest in ethical finance. Taking an interdisciplinary and diverse perspective, this book enriches the evolving definition and scope of ethical finance literature by focusing on actors, products and regulation that shape markets. Considering the gap between theory and practice, this book bridges academic and professional knowledge in unpacking ethical and governance issues in the financial industry. In an effort to include as many viewpoints as possible, regardless of popularity or who holds them, the book editors gathered thoughts from diverse fields, including accounting, economics, ethics, finance, governance, law, management, philosophy and religion. Appealing to academic and non-academic stakeholders with an interest in ethics and finance, this book is the result of and a testament to a distinct educational and public engagement project that included different generations and communities, for future reference.

Download or read book Faith Finance and Economy written by Tanweer Akram and published by Springer Nature. This book was released on 2020-03-10 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book seeks to foster a multidisciplinary understanding of the ties between faith, financial intermediation, and economic progress by drawing on research across economics, finance, history, philosophy, ethics, theology, public policy, law, and other disciplines. Chapters in this edited volume examine themes as consequential as economic opportunities, real world outcomes and faith; values and consumerism; faith, financial intermediation and economic development in Western and Islamic societies; and the impact of faith issues on US workers, on the workplace and religion, and on the characteristics of good wealth. Though engaging with difficult questions, this book is written in an accessible style to be enjoyed by laypeople and scholars alike.

Download or read book Foreign Direct Investment in Bahrain written by Lobna Ali Al-Khalifa and published by Universal-Publishers. This book was released on 2010-05 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: A significant volume of literature has been developed that seeks to provide an explanation for the growth of FDI and its impact on less developed countries. The literature is characterized by diversity and controversy. Based on it, a range of reasons for encouraging investment have been proposed including its favorable effects on employment levels, the balance of payments and balance of trade of the host country and also the potential for acquisition of technology and skills (Cave: 1982 and Dunning: 1993). Equally, the potentially negative effects of growing levels of foreign investment on domestic market structures and national sovereignty have long been the focus of attention (Vernon: 1971 and Jenkins: 1987). More recent studies focused on the positive effect FDI can create through the integration of a host country into the global economy and the system of international division of labor based on fragmentation of production (Gereffi and Korzeniewicz: 1994, and Henderson, Decken, Hess, Coe and Yeung: 2002). Little if any research has examined the impact of FDI on the oil monarchies. Conventional expectations persisted that once they enter the post-oil phase of their histories, it will be difficult for them to uphold their political legitimacy and survive intense domestic and international pressures upon their regimes (Taeker: 1998 and O'Reilly: 1999). It has been argued that oil income enable them to pacify opponents by providing their subjects with jobs that pay well and has had detrimental effect on both economic development and political liberalization. These expectations have tended to be contradicted by actual development. The private sector has become remarkably strong in the oil monarchies and their governments were not highly resistant to change as depicted by the rentier state paradigm (Mahdavy: 1970, and Beblawi: 1987). Taking Bahrain as a case study, this thesis argues that despite its limitations as a small nation and the paucity of its oil reserves, Bahrain punched well above its weight due to its open economy and foreign direct investment. Its domestic economy is well integrated into the global market. It was able to exploit some of the opportunities that were presented by economic globalization when niches were opened or vacated within the networks of global production. It has developed energy-intensive industries (aluminium and petrochemicals) and became the major financial centre of the Middle East. Yet in spite of the government incentives, it still faces some challenges in attracting FDI in downstream activities related to oil and aluminium, which suggests that additional reforms are needed.

Download or read book Benchmarking Islamic Finance written by Mohd Ma'Sum Billah and published by Routledge. This book was released on 2021-07-14 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing or benchmarking is a process of evaluating the performance of a financial company’s products and services or systems, against other businesses, considered to be at the top of their field, by applying a measurement of “best in performance.” This book includes contributions from the leading global experts in the field who tackle topics such as whether the Islamic financial system has been dependent on the LIBOR / EURIBOR in its benchmarking exercises to date, and thus, whether it will be affected negatively by the predicted non-existence of the LIBOR / EURIBOR from 2021 onwards. They also address the question of whether the Islamic financial system requires benchmarking of its products and services and consider the emergence of Sharī ͑ah-justified benchmarking in today’s Islamic financial system. Additionally, they look at how benchmarking formulas should be adapted to ensure the satisfaction of customers within the principles of Maqasid al-Sharī ͑ah. It takes a legal and institutional approach to the subject, which readers will find particularly valuable, as there are various forms of Islamic finance institutions that do not conform to established models in the finance industry. Furthermore, there are emerging business models that will benefit from this line of investigation. This book offers a timely analysis of these issues and redresses the existing misconceptions and misinterpretations pertaining to benchmarking, in an Islamic finance context, and, as such, provides guidance and strategies for future directions. It will appeal to researchers of Islamic banking, finance, and insurance, as well as, practitioners, particularly standard setting bodies, regulators, and policy makers.

Download or read book Islamic Economic Studies written by and published by . This book was released on 2008 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: