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This book contains 25 articles on various aspects of Islamic finance written by some of the leading authorities in the field. The main topics addressed are (1). A comprehensive and fully up-to-date introductory textbook to Islamic finance and banking Islamic finance and banking is being used increasingly globally. Introduction to Islamic Banking and Finance is a succinct guide to the key characteristics of Islamic banking highlighting how these differ from.

Islamic Banking Book

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pixia-club.info: The Art of Islamic Banking and Finance: Tools and Techniques for Community-Based Banking (): Yahia Abdul-Rahman: Books. Discover librarian-selected research resources on Islamic Banking from the Questia online library, including full-text online books, academic journals. Introduction to Islamic Banking and Finance: Principles and Practice. Book · January with 33, Reads. Publisher:

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This mode of financing is called mudaraba in Islamic literature. Mudaraba is one of the pillars of Islamic banking. The other is musharaka, which is a mode of financing based on equity participation. In this mode, the partners use their capital jointly in a bid to generate a surplus.

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They will share the profits or losses on the basis of an agreed formula, depending on the equity ratio. The musharaka principle is similar to the concepts of partnership and joint stock ownership and is invoked in the equity structure of Islamic banks.

Islamic banks operate a two-tier mudaraba system under which a bank acts both as the mudarib when it comes to savings and as the rabbul-mal on the investment portfolio side.

Such institutions typically operate three broad categories of account, mainly current, savings and investment accounts. The current account is essentially a safe-keeping al-wadiah arrangement between a depositor and the bank, allowing the depositor to withdraw his or her money at any time and permitting the bank to use the depositor's money.

The savings account also operates on an al-wadiah basis, but the bank may pay the depositor a positive return periodically, depending on its profitability. Such a payment is not a condition for lending by the depositors to the bank and is not predetermined, so is considered lawful in Islam.

The investment account is based on the mudaraba principle, while the deposits are term deposits and cannot be withdrawn before they mature.

Different banks offer a different profit-sharing ratio, which also depends on the supply and demand conditions. Islamic banks employ a variety of instruments for investment, preferring less risky modes of financing. The most commonly used one is the "mark-up" device, which is called murabaha.

Under the transaction, the bank buys a good or asset on behalf of a client and adds a mark-up before reselling it to the client on a "cost-plus" basis. Islamic banks also purchase and sell properties on a deferred payment basis, a process called bai' muajjal.

Islamic Banking and Finance

Another frequent practice of Islamic banks is leasing, or ijara, as part of which they purchase the equipment or machinery and lease it out to a client who may buy the items eventually. The main topics addressed are 1 foundations of Islamic finance, 2 operations of Islamic banks, 3 markets and instruments, 4 Islamic banks and development, and 5 globalization of Islamic finance.

The recent attention that Islamic finance has received in the news media—for reasons that include its rapid growth—has led to the publication of numerous books on the subject.

Nevertheless, there is neither a standard textbook on Islamic finance nor a book that provides the relevance, comprehensiveness, and rigor that generalists in the finance profession might reasonably expect. In the Handbook of Islamic Banking, M.

Kabir Hassan, a professor of economics and finance, and Mervyn K. Lewis, a professor of banking and finance, have assembled 25 articles on various aspects of Islamic finance written by some of the leading authorities in the field. Most of the authors of the articles in this book are academics, and some have published extensively on the subject.

Spanning areas such as banking, capital markets, and Takaful Islamic insurance , the Handbook of Islamic Banking traces Islamic finance from its foundations to current practice. Although the book is fairly comprehensive, it does not directly address Islamic private wealth. The articles offer intellectually stimulating analysis to finance professionals at the intermediate or advanced level.

For example, Lewis notes that although Hinduism, Judaism, Christianity, and Islam all opposed usury in the past, Islam remains the only major religion to prohibit the charging of interest. Habib Ahmed and his colleagues examine the nature of risks e. These devices, which include parallel contracts, have arisen because certain conventional risk management tools e. Said M.

Elfakhani and his coauthors explain the governance, marketing, and distribution of Islamic funds. They state that the risk-adjusted performance of Islamic funds does not differ significantly from that of conventional funds.He has been involved in academia related to Islamic finance for nearly a decade.

Search this Guide Search. Role of Islamic Banking in Financial Inclusion: Modern Islamic Banking gives you a solid understanding of the fundamentals and expert insight into modern practical applications.

Fundamentals of Islamic Finance and Banking

He envisages an industry in which Islamic banks are much smaller and a less contentious feature on a landscape dominated by more sharia-compliant asset management firms, co-operatives and insurance companies. Many Muslims are simply agnostic on Islamic finance. Author Bios Brian Kettell has a wealth of practical experience in the area of Islamic banking and finance.

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