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

By Zamir Iqbal

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

the continuing foreign monetary problem has reignited debate over the improvement of a risk-sharing economic climate, similar to that required in Shariah legislations. An creation to Islamic Finance: conception and perform, moment Edition highlights the center ideas of chance sharing in Islam, arguing risk-sharing economic climate is precisely what we have to advertise higher monetary stability.

supplying complete assurance of the basic thought in the back of Islamic finance and banking, in response to the center thoughts of Shariah legislations, authors Zamir Iqbal and Abbas Mirakhor truly clarify the precise positive aspects of an Islamic economy and the way it compares with conventional monetary versions. Addressing the myriad very important advancements that experience taken position lately, this moment version appears to the long run, addressing rising matters certain to effect destiny advancements in Islamic finance.

  • Explores the original good points of an Islamic economic climate, how they examine to extra conventional monetary structures, and the way they can enhance them
  • Discusses all of the latest advancements and rising matters in Islamic finance
  • Updated with the most recent advancements, tendencies, techniques, and information, this new version good points extra chapters at the monetary quandary, globalization, non-bank monetary associations, and up to date advancements in Takaful (Islamic insurance)

the 1st variation of An advent to Islamic Finance verified the ebook because the marketplace chief, and this newly revised and up to date moment variation contains the newest advancements during this booming monetary zone, together with monetary balance, globalization, and non-banking monetary institutions.

Chapter 1 advent (pages 1–27):
Chapter 2 the industrial process (pages 29–56):
Chapter three Riba vs. expense of go back (pages 57–74):
Chapter four monetary tools (pages 75–98):
Chapter five hazard Sharing in its place to Debt (pages 99–112):
Chapter 6 The Islamic economy (pages 113–136):
Chapter 7 the soundness of the Islamic economic system (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 prone (pages 225–243):
Chapter 12 monetary Engineering (pages 245–273):
Chapter thirteen hazard administration (pages 275–298):
Chapter 14 rules 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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Extra resources for An Introduction to Islamic Finance: Theory and Practice, Second Edition

Example text

These efforts to develop institutions are also supported by several stakeholders such as the IMF, central banks of leading Muslim countries, international standard-setting bodies, and financial centers. As mentioned earlier, the IDB was established in 1975 as a regional development institution to promote economic development in Muslim countries through Islamic finance. 18 The Islamic Research and Training Institute (IRTI)—the IDB’s research arm—was established in 1981 to undertake research and training in a range of economic, financial and banking issues.

That same year, IDB members also established a special “solidarity” fund for reducing poverty, eliminating illiteracy, eradicating major communicable diseases and building the human and productive capacities, particularly in the least-developed OIC countries. This fund is organized as an endowment (waqf ) fund, with targeted capital of US$10 billion. The AAOIFI was established as a self-regulatory agency to tackle the problem of Shari’ah compliance and gaps in applying conventional financial reporting standards to Islamic banks.

The ICIEC’s main objectives are to provide Shari’ah-compliant export credit insurance and reinsurance to cover the non-payment of export receivables resulting from commercial (buyer) and non-commercial (country) risks and to provide investment insurance and reinsurance against country risk, emanating mainly from foreign-exchange transfer restrictions, expropriation, war and civil disturbance, and breach of contract by the host government. The Islamic Corporation for the Development of the Private Sector (ICD) was established in 1999 to promote the development of the private sector in member countries.

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