Download e-book for iPad: An Introduction to Islamic Finance: Theory and Practice, by Zamir Iqbal

By Zamir Iqbal

ISBN-10: 0470828080

ISBN-13: 9780470828083

ISBN-10: 1118390474

ISBN-13: 9781118390474

The first e-book to supply finished assurance of Islamic finance and banking and its functions to the remainder of the area, now totally revised and updated

the continued overseas monetary hindrance has reignited debate over the improvement of a risk-sharing economic system, comparable to that required in Shariah legislation. An advent to Islamic Finance: idea and perform, moment Edition highlights the center rules of chance sharing in Islam, arguing risk-sharing economic climate is strictly what we have to advertise better monetary stability.

delivering complete assurance of the basic concept in the back of Islamic finance and banking, based on the middle options of Shariah legislation, authors Zamir Iqbal and Abbas Mirakhor basically clarify the specific positive factors of an Islamic economic climate and the way it compares with conventional monetary types. Addressing the myriad vital advancements that experience taken position in recent times, this moment variation seems to be to the longer term, addressing rising concerns certain to effect destiny advancements in Islamic finance.

  • Explores the original gains of an Islamic economic climate, how they examine to extra conventional monetary structures, and the way they can enhance them
  • Discusses all of the newest advancements and rising matters in Islamic finance
  • Updated with the most recent advancements, tendencies, thoughts, and facts, this new version beneficial properties extra chapters at the monetary obstacle, globalization, non-bank monetary associations, and up to date advancements in Takaful (Islamic insurance)

the 1st version of An creation to Islamic Finance demonstrated the publication because the industry chief, and this newly revised and up-to-date moment version contains the latest advancements during this booming monetary quarter, together with monetary balance, globalization, and non-banking monetary institutions.

Chapter 1 advent (pages 1–27):
Chapter 2 the commercial procedure (pages 29–56):
Chapter three Riba vs. expense of go back (pages 57–74):
Chapter four monetary tools (pages 75–98):
Chapter five chance Sharing as a substitute to Debt (pages 99–112):
Chapter 6 The Islamic economic system (pages 113–136):
Chapter 7 the steadiness 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 chance administration (pages 275–298):
Chapter 14 legislation 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 matters and demanding situations (pages 365–392):

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Extra info for An Introduction to Islamic Finance: Theory and Practice, Second Edition

Example text

In Islam, faithfulness to the terms of all contracts entered into is linked to the fulfillment of obligations incurred under the Primordial Covenant. 5 As directed in the Qur’an, Muslims put their contracts in writing in order to reduce the possibility of any misunderstanding or ambiguity concerning the responsibilities of the parties to the contract. Shari’ah scholars often point out that one of the reasons why the Islamic system of muamalat (transactions) is so highly articulated is that it is based on solid principles of contracts and the rights and obligations of the parties to the contract.

In this view, property is not a means of exclusion but inclusion, in which the rights of those less able are redeemed in the income and wealth of the more able. The result would be a balanced economy without extremes of wealth and poverty. 5 percent on wealth), khums (20 percent of income), and payments referred to as sadaqat. Distribution takes place after production and sale, when all factors of production are given what is due to them commensurate with their contribution to production, exchange and sale of goods and services.

Redistribution refers to the post-distribution phase when the charges due to the less able are levied.

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An Introduction to Islamic Finance: Theory and Practice, Second Edition by Zamir Iqbal

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