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| islamic finance questions and answers: Frequently Asked Questions in Islamic Finance Brian Kettell, 2010-10-28 In Frequently Asked Questions in Islamic Finance, industry expert Brian Kettell answers some of the most frequently asked questions from his many years experience in working and teaching in Islamic finance and banking. From knowledge of the Qu'ran and Sharia'a Law, to new and old Islamic financial concepts, Islamic terms, and Islamic financial instruments and services, this book covers all the key areas that practitioners need to Islamic finance. The book addresses individual questions such as “what is Takaful?”, and provide answers with a clear overview of the product or service, and an example, or illustration where appropriate, of how they work in practice. The book also features a question and answer section for readers to test and build their knowledge of the area. Light, entertaining and varied in its approach, Frequently Asked Questions in Islamic Finance will prove popular for experienced practioners and novices alike. |
| islamic finance questions and answers: Case Studies in Islamic Banking and Finance Brian Kettell, 2011-08-15 Based around 13 individual cases, this book will stimulate discussion and develop the reader's understanding of Islamic finance by contrasting their existing theoretical knowledge against practical examples. |
| islamic finance questions and answers: Islamic Banking Mabid Ali Jarhi, Munawar Iqbal, 2001 |
| islamic finance questions and answers: Principles of Islamic Accounting Nabil Baydoun, Maliah Sulaiman, Roger J. Willett, Shahul Ibrahim, 2018-09-12 Your introduction to Islamic accounting Principles of Islamic Accounting is the first and only text that covers the fundamentals of Islamic accounting in English. A comprehensive guide, this groundbreaking reference offers both insight into Islamic accounting best practices and disclosure for Shariah-compliant instruments. Covering everything from basic transaction analysis to the preparation of financial statements, this reference serves as a broad framework around which undergraduate students can build their understanding of the Islamic business environment by offering context and showcasing how Islamic values can influence the disclosure of financial information. Islamic accounting is becoming an increasingly important aspect of the business field as globalization results in a surge in business partnerships and transactions around the world. Today's students need to understand Islamic accounting principles in order to effectively work with professionals who adhere to these standards—and accessing this information via text in English was not possible until this revolutionary reference. Review the basics through an introduction to Islamic accounting Understand the recording process, and how to complete the accounting cycle and adjust accounts as necessary Explore accounting for assets, liabilities, equity, and sukuk, as well as zakat and takaful accounting Discover details regarding Islamic commercial law, accounting for Islamic financial institutions, and Islamic corporate governance and sustainability, and look at auditing from an Islamic perspective Principles of Islamic Accounting is an essential text for first-year university students who are studying Islamic accounting, as well as professional societies and organizations that support the use of Islamic accounting principles, such as The Islamic Finance Professionals Association. |
| islamic finance questions and answers: Fundamentals of Islamic Finance and Banking Syeda Fahmida Habib, 2018-07-19 A comprehensive and fully up-to-date introductory textbook to Islamic finance and banking Islamic finance and banking is being used increasingly globally — especially in the regions of Middle East and North Africa, South East and South Asia. To cater to the need of trained Islamic finance staff, a large number of Educational institutions are beginning to offer courses, majors and minors in Islamic finance and banking. The major challenge faced by these institutions are suitable textbooks for both undergrad and post-grad levels and especially with the relevant instructor resources (PPTs, test bank, practice activities and answer keys). Luckily, Fundamentals of Islamic Finance and Banking is here to cover the most important topics related to Islamic finance and banking (IF&B) that are relevant for students of business, finance and banking. Offers an historical background of Islamic finance Covers the principles of Sharia Law as pertinent to finance and banking Provides in-depth discussion of the six key Islamic banking products: Murabaha, Mudaraba, Musharaka, Ijara, Salam and Istisna Discusses the Islamic insurance (Takaful) Gives an overview of Islamic investment, especially Sukuks Concludes with the global standing of the Islamic Finance and Banking industry Would-be colleges and universities offering this subject as a course within their finance and/or banking program can’t be without this invaluable guide. |
| islamic finance questions and answers: Islamic Finance Mahmoud A. El-Gamal, 2006-07-03 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. |
| islamic finance questions and answers: Risk Analysis for Islamic Banks Hennie van Greuning, Zamir Iqbal, 2008 Islamic finance is emerging as a rapidly growing part of the financial sector in the Islamic world and is not restricted to Islamic countries, but is spreading wherever there is a sizable Muslim community. According to some estimates, more than 250 financial institutions in over 45 countries practice some form of Islamic finance, and the industry has been growing at a rate of more than 15 percent annually for the past several years. The market's current annual turnover is estimated to be $70 billion, compared with a mere $5 billion in 1985, and is projected to hit the $100 billion mark by the turn of the century. Since the emergence of Islamic banks in the early 1970s, considerable research has been conducted, mainly focusing on the viability, design and operations of a deposit-accepting financial institution, which operates primarily on the basis of profit and loss partnerships rather than interest. This publication provides a comprehensive overview of topics related to the assessment, analysis, and management of various types of risks in the field of Islamic banking. It is an attempt to provide a high-level framework (aimed at non-specialist executives) attuned to the current realities of changing economies and Islamic financial markets. This approach emphasizes the accountability of key players in the corporate governance process in relation to the management of different dimensions of Islamic financial risk. |
| islamic finance questions and answers: Monetary Policy, Islamic Finance, and Islamic Corporate Governance Toseef Azid, Murniati Mukhlisin, Nashr Akbar, Muhammad Tahir, 2021-06-16 Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International overview explores the interrelationships between corporate governance from the perspective of shari’ah, banking industry and monetary policy and is a must-read for students and professionals. |
| islamic finance questions and answers: Islamic Finance Tom Spoors, 2014-02-18 A short introduction to Islamic Finance covering the history of money and finance, a short history of Islam and a description of the main elements of the Islamic Financial system. The book asks and tries to answer 9 questions about the global financial system and how a Shari'ah-based approach may have some useful elements that we can use globally in the future |
| islamic finance questions and answers: Islamic Finance and Sustainability Farhad Taghizadeh-Hesary, Hassanudin Mohd Thas Thaker, M. Ishaq Bhatti, Mohamed Asmy Mohd Thas Thaker, 2025-03-03 This book offers a comprehensive overview of Islamic finance and sustainability, showcasing how Islamic financial instruments can support environmentally sustainable initiatives. It delves into recent efforts to develop a Shariah-compliant financial and banking system that is sustainable, efficient, and stable. Contributors focus on Islamic financial products and tools, highlighting their potential to advance environmental sustainability. The discussions are organized around key themes, including the principles of sustainability in Islamic finance, risk assessment and mitigation, the Islamic stock market and sustainability, Green Fintech in Islamic banking and finance, and Green Sukuk in developing and emerging markets. The book addresses how Islamic finance can bridge the gap in green financing globally. Particular emphasis is placed on Green Sukuk, a Shariah-compliant bond created to fund environmentally sustainable projects, including those aimed at combating climate change and promoting ecological conservation. This comprehensive volume on Islamic finance and sustainability will be invaluable for policymakers, researchers, and academics interested in Islamic economics and finance, sustainable finance, and the green economy. |
| islamic finance questions and answers: Islam: Questions And Answers - Schools of Thought, Religions and Sects Muhammad Saed Abdul-Rahman, 2003-12-01 This book, Schools of Thought, Religions and Sects, is the eighth volume of a series of authoritative Islamic books entitled Islam: Questions And Answers. The overall series discuss issues relevant to Islam, and present accurate and reliable information based on the true beliefs and practices of the Prophet (Peace and Blessings of Allaah be upon Him) and his companions. The objectives of the various books include: to teach and familiarize Muslims with various aspects of their religion to be a source for guiding people to Islam to assist in solving the social and personal problems of the Muslims in an Islamic context The books are directed towards Muslims and non-Muslims alike. Subject areas include, but are not limited to, Islamic fiqh and jurisprudence, Islamic history, Islamic social laws (including marriage, divorce, contracts, and inheritance), Islamic finance, basic tenets and aqeedah of the Islamic faith and tawheed, and Arabic grammar as it relates to the Qur'an and Islamic texts. The books are compilations of questions and responses about Islam, from both Muslims and Non-Muslims. The responses are handled mainly by internationally re-nowned Islamic shaykhs and scholars, including Shaykh al-Islam Ibn Taymiyah, Ibn Katheer, al-Albaani, Shaykh Ibn Baaz, Ibn al -Jawzi, Ibn al-Qayyim, Al-'Izz ibn 'Abd al-Salaam, al-Nawawi, Shaykh 'Abd al-Kareem, al Khudayr, Al-Dhahabi, al -Qurtubi, Al-Sindi, al- Shawkaani and al-Bastawi using only authentic, scholarly sources based on the Qur'an and sunnah. References are provided where appropriate in the responses. The book provides the reader with cross references of other pertinent responses not necessarily in the same volume, but also in othervolumes of the series. However, each volume is complete in itself. The book records accurately the answers the contributing Sheikhs and scholars gave to the questions put to them. |
| islamic finance questions and answers: An Introduction to Islamic Finance Mufti Muhammad Taqi Usmani, 2021-10-18 Although the principles of Shari'ah require banks and financial institutions to be structured on an interest-free basis, this does not mean that such institutions are charitable concerns. As long as a person advancing money expects to share in the profits earned (or losses incurred) by the other party, a stipulated proportion of profit is legitimate. The philosophy is enshrined in the traditional Islamic concepts of musharakah and mudarabah, along with their specialized modern variants murabahah, ijarah, salam, and istisna'. This invaluable guide to Islamic finance clearly delineates the all-important distinctions between Islamic practices and conventional procedures based on interest. Justice Usmani of Pakistan, who chairs several Shari'ah supervisory boards for Islamic banks, clearly explains the various modes of financing used by Islamic banks and non-banking financial institutions, emphasizing the necessary requirements for their acceptability from the Shari'ah standpoint and the correct method for their application. He deals masterfully with practical problems as they arise in the course of his presentation, and offers possible solutions in each instance. |
| islamic finance questions and answers: A Modern Perspective of Islamic Economics and Finance Ahmet Suayb Gundogdu, 2019-02-05 This book aims to develop a blue print for Islamic economics and finance by starting at the grass roots of trade and commerce. It positions Islamic finance within the economic priorities of Islam while providing a cohesive understanding of Islamic economics and finance in a clear and practical manner. |
| islamic finance questions and answers: Islamic Finance in the Global Economy Ibrahim Warde, 2014-03-11 A second edition of Islamic Finance in the Global Economy, substantially revised and updated to take into account the recent developments in the field. |
| islamic finance questions and answers: Harnessing Technology for More Inclusive and Sustainable Finance in Asia and the Pacific Asian Development Bank, 2018-10-01 Asia and the Pacific continues to embrace financial technology advances that are reshaping the traditional banking and financial services industry. This is being done through the digitalization, decentralization, and disintermediation of economic transactions. This report tracks the progress of financial innovation in the region, and discusses its implications for financial inclusion and stability as well as its challenges. It also identifies key policy issues for central banks, financial regulators, and international financial institutions. |
| islamic finance questions and answers: Islamic Commercial Law Muhammad Yusuf Saleem, 2012-11-09 A concise study of the practices in Islamic commercial law Filling a gap in the current literature, Islamic Commercial Law is the only book available that combines the theory and practice of Islamic commercial law in an English-language text. From the experts at the International Islamic University Malaysia, the book examines the source materials in the Qur'an and Hadith, and highlights the views and positions of leading schools of Islamic law, without burying the reader in juristic minutia. It combines theory with practice to address the needs of students while providing a pragmatic treatment of Islamic contracts. It provides diagrams for individual contracts to reveal the type and nature of the contractual relationships between parties and discusses all types of fundamental transactions, including sales, loans, debt transfers, partnerships, and more. Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance Closes a vital gap in the English-language literature on Islamic commercial law Features end-of-chapter questions to enable self-testing and provoke critical thinking An ideal guide for current students, researchers, and practitioners, Islamic Commercial Law offers a concise yet comprehensive coverage of the subject. |
| islamic finance questions and answers: Strategic Management in Islamic Finance Alexander Pock, 2007-12-05 Alexander von Pock develops a holistic conceptual framework for identifying and testing key success factors of Islamic financial institutions. The framework integrates insights into the current practices of Islamic finance, a variety of theories – namely the market-based view, the resource-based view, and, to some extent, New Institutional Economics approaches – as well as previous research from the fields of strategic management and economics. The author is testing the theoretical framework empirically in a survey of 36 major Islamic financial institutions based in the Gulf Cooperation Council area and in Malaysia. |
| islamic finance questions and answers: Islamic Finance and the New Financial System Tariq Alrifai, 2015-03-23 Can Islamic finance save the global system? Islamic Finance and the New Financial System describes how the adoption of Islamic finance principles in future regulatory decisions could help prevent future shocks in the global financial system. Using illustrations and examples to highlight key points in recent history, this book discusses the causes of financial crises, why they are becoming more frequent and increasingly severe, and how the new financial system will incorporate elements of Islamic finance – whether deliberately or not. With an introspective look at the system and an examination of the misconceptions and deficiencies in theory vs. practice, readers will learn why Islamic finance has not been as influential as it should be on the larger global system. Solutions to these crises are thoroughly detailed, and the author puts forth a compelling argument about what can be expected in the future. Despite international intervention and global policy changes, the financial system remains in a fragile state. There is an argument to be made about integrating Islamic finance into the new system to facilitate stronger resilience, and this book explains the nuts and bolts of the idea while providing the reader with a general understanding of Islamic finance. Understand the key principles of Islamic finance Examine the history of the current financial system Discover how Islamic finance can help build a new debt-free economy Learn how Islamic finance theory doesn't always dictate practice Although Islamic finance is a growing market, it is still a foreign concept to many. Those within the Islamic finance circles wonder why the system has yet to gain broader appeal despite its ability to create a strong and well-balanced economy. Islamic Finance and the New Financial System provides clever analysis and historical background to put the issues into perspective. |
| islamic finance questions and answers: Islamic Finance and Corporate Governance Muhammad Ali, Syed Ali Raza, Nor Shaipah Abdul Wahab, Chin-Hong Puah, Hanudin Amin, Abadullah, 2025-04-23 Islamic Finance and Corporate Governance addresses matters related to technology, Islamic ventures, risk management, compliance with regulations, and societal responsibility, while advocating for inclusive governance methods. It promotes sustainable development in Islamic finance through efficient corporate governance. |
| islamic finance questions and answers: The Art of Islamic Banking and Finance Yahia Abdul-Rahman, 2009-12-09 A detailed look at the fast-growing field of Islamic banking and finance The Art of Islamic Banking and Finance is a modern American take on what it means to incorporate Islamic finance principles into everyday banking and investment techniques by introducing a new brand of banking for all people of all faiths: The Riba-Free (RF) banking. The author is considered the father of RF (Islamic) banking in America. He has been a banker and an Imam/scholar for over 40 years in America since 1968. He started the tedious process with a finance company, LARIBA, in Pasadena, California in 1987. This is the first book ever in the field to trace the origins of prohibiting the renting of money at a price called interest rate and over-indulging in debt. The book reviews in great details the theological foundations of prohibiting interest in the Jewish Bible, the Christian Bible, and the Qur'aan. The author then discusses money and how fiat money is created, the role of the Federal Reserve, and the banking system in America. The book also discusses for the first time ever how to include an important aspect of RF (Islamic) finance using commodity indexation and marking the items to be financed to market in order to avoid participating in economic bubbles. The author discusses how these rules work, how they affect consumer behavior, and how they change the role of the banker/financier. Covers a new pioneering model that is based on the Law (Shari'aa) and how it is applied in every transaction from joint ventures and portfolio management to home mortgages and personal financing Shows how to incorporate the Law (Shari'aa) into American financing and banking systems Points to RF (Islamic) finance and banking as a way to emphasize socially responsible investing The Art of Islamic Banking and Finance also includes a discussion on the emergence of a culture of RF (Islamic) banking and finance today, which is based on the real Judeo-Christian-Islamic spirit and very effective when compared to twentieth-century models that use financial engineering and structuring techniques to circumvent the Law (Shari'aa). The book also includes case studies based on the actual experience of the author and detailed analysis of the superior results realized by applying this new brand of banking to financing. |
| islamic finance questions and answers: Dispute Resolution in Islamic Finance Adnan Trakic, John Benson, Pervaiz K Ahmed, 2019-01-22 Dispute Resolution in Islamic Finance addresses how best to handle disputes within Islamic finance. It examines how they can be resolved in a less confrontational manner and ensure such disagreements are settled in a just and fair way. There has been little focus on how disputes within Islamic finance are resolved. As a result, many of these disputes are resolved through litigation, notwithstanding that the various jurisdictions and court systems are generally poorly equipped to handle such matters. This book addresses this gap in our knowledge by focusing on five centres of Islamic finance: the United Kingdom, the United States of America, Malaysia, the Kingdom of Saudi Arabia and the United Arab Emirates. Before exploring these countries in detail, the book considers the issues of the choice of law within Islamic finance as well the prevailing forms of dispute resolution in this form of finance. The book brings together a group of leading scholars who are all specialists on the subject in the countries they examine. It is a key resource for students and researchers of Islamic finance, and aimed at lawyers, finance professionals, industry practitioners, consultancy firms, and academics. |
| islamic finance questions and answers: An Introduction to Islamic Finance Muḥammad Taqī ʻUs̲mānī, 1998 |
| islamic finance questions and answers: Contemporary Islamic Finance Karen Hunt-Ahmed, 2013-01-14 A comprehensive look at the innovations, applications, and best practices of Islamic finance Islamic-compliant finance is transacted in every major world financial center, and the need for information on the topic in light of its global reach has grown exponentially. As an expert in this field, author Karen Hunt-Ahmed understands the intricacies of this area of the capital markets. Now, along with the help of a number of experienced contributors, she skillfully addresses Islamic finance from the perspective of practitioners, examining issues in wealth management, contract law, private equity, asset management, and much more. Engaging and accessible, Contemporary Islamic Finance skillfully explains the practices and innovations of Islamic finance in everything from banking and real estate to private equity, asset management, and many other areas. It is intended to be the go-to resource for both Muslims as well as non-Muslims with an interest in the subject. Divided into three comprehensive parts, it will put you in a better position to understand, and excel at, this important endeavor. Introduces you to the history, legal structures, and basic financial contracts in the industry Highlights the various issues facing contemporary Islamic finance practitioners, and details their significance in the contemporary financial and cultural environment Includes case studies of United States-based transactions and related challenges and successes Filled with in-depth insights and expert advice, this detailed analysis of Contemporary Islamic Finance will help you gain a firm understanding of how effective this proven approach can be. |
| islamic finance questions and answers: Economic Development and Islamic Finance Zamir Iqbal, Abbas Mirakhor, 2013-08-05 Although Islamic finance is one of the fastest growing segments of emerging global financial markets, its concepts are not fully exploited especially in the areas of economic development, inclusion, access to finance, and public policy. This volume is to improve understanding of the perspective of Islamic finance on economic development, social and economic justice, human welfare, and economic growth. |
| islamic finance questions and answers: Handbook of Ethics of Islamic Economics and Finance Abbas Mirakhor, Zamir Iqbal, Seyed Kazem Sadr, 2020-04-20 Since the financial crisis of 2007/2008, a renewed discussion on the ethics and finance is being examined from different dimensions – finance for good society, responsible finance, ethical finance, financial crimes, and financial repression. The principal objective of this Handbook on Ethics of Islamic Economics and Finance is to provide a deeper understanding of the ethical underpinning of Islamic economics and finance. The reader will notice that the Handbook reflects a diversity of views on the subject of economic and business ethics in Islam across the intellectual spectrum of Muslim thought over the globe. Handbook attempts to find answers to some questions concerning the definition and characteristics of the ethical system in Islam. What is its goal and how do its rules and practices ensure welfare for individuals and society? Are the moral principles universal and invariable or do they change and adapt with the social changes of communities and progress in science and technology? Is the present generation accountable for the welfare of future generations? Where is the boundary between law and ethics and who guarantees their adoption and implementation? |
| islamic finance questions and answers: Management of Islamic Finance M. Kabir Hassan, Mamunur Rashid, 2018-11-23 In this issue, we have presented issues relevant to the most recent debate on the performance, practices, and principles of the Islamic finance industry as a whole, covering eleven distinct issues. |
| islamic finance questions and answers: Islamic Finance Tina Harrison, Essam B. Ibrahim, 2016-09-20 This book demonstrates how the global market for Islamic financial services has shown strong growth in recent years and shown remarkable resilience during the global financial crisis. Drawing on a range of international perspectives from the Gulf Cooperation Council countries, Malaysia, Pakistan, Australia and Europe, this book explores the characteristics and performance of Islamic finance and banking and discusses future prospects. It offers a comprehensive theoretical framework for Shariah governance in Islamic financial institutions, explores Shariah-compliant equities, as well as issues in productivity, technology and efficiency. It includes a number of comparative studies on Islamic and conventional banks, Islamic and conventional unit trusts, and Islamic and conventional banks’ product mixes. The challenges and opportunities for the expansion of Islamic finance and banking into Europe are explored through the contexts of the UK, Germany and Italy. |
| islamic finance questions and answers: Islamic Finance For Dummies Faleel Jamaldeen, 2012-08-03 A detailed look at the fast-growing field of Islamic banking and finance The global Islamic finance market is now worth about $700 billion worldwide. Islamic Finance For Dummies helps experienced investors and new entrants into Islamic finance quickly get up to speed on this growing financial sector. Here, you'll find clear and easy-to-understand information on how you can incorporate Islamic finance products into your investment portfolio. You'll quickly and easily: become acquainted with the theory, practice, and limitations of Islamic banking; understand how to develop products for the Islamic financial industry; grasp the objectives and sources of Islamic law and the basic guidelines for business contacts; learn about Islamic fund management and insurance; and much more. Coverage of the role Islamic finance can play in the development of the financial system and of economies Addresses the risks and rewards in Islamic banking The future prospects and opportunities of the Islamic finance industry With the help of Islamic Finance For Dummies, you'll discover the fast and easy way to tap into the booming Islamic finance arena. |
| islamic finance questions and answers: The Future of Islamic Finance Edib Smolo, Mohamed Mahees Raheem, 2024-11-07 This exhaustive collection presents an all-encompassing account of the current status of Islamic finance, accentuating its ethical, technological, and sustainable facets. |
| islamic finance questions and answers: Islamic Finance Hans Visser, 2009-01-01 'Islamic Finance is a welcome critical contribution to the growing body of literature on Islamic economics, banking and finance. As one would expect from an eminent and respected scholar, Visser has provided the reader with much food for thought. This stimulating book raises some serious questions which need to be addressed and provides valuable source material for researchers and students of Islamic finance.'– Abul Hassan, The Muslim World Bank Review'Since its development, the study of Islamic finance has been enriched by the insights of Western scholars of banking and finance. Here, Hans Visser provides a comprehensive analysis of the principles of Islamic finance, the main instruments, and the operation of Islamic institutions and markets. This thoughtful and well written study confirms Professor Visser's place in the group of Western writers able to comprehend and evaluate the essence of Islamic finance, while reinforcing Edward Elgar's position as the leading Western publishing house in this field.'– Mervyn K. Lewis, University of South Australia and Academy of the Social Sciences in AustraliaHans Visser presents a fascinating study of both the foundations of Islamic finance and its recent developments. This highly topical book explores the products and practices of Islamic finance, specifically targeting the tensions that may arise between the ideology and the practices. The author describes the forms Islamic finance has taken, analyzes the problems that it faces, and confronts the practice of Islamic finance with the principles it is based upon. He presents a dispassionate discussion of the problems facing Islamic forms of finance, including the question of how to reconcile activities such as liquidity management, monetary policy and government finance with Islamic principles.Islamic finance is an especially momentous phenomenon, and this book will prove an essential read for students with an interest in money and banking, and particularly Islamic finance. It will also be highly influential for bankers and staff in financial institutions, as well as financial journalists, politicians and civil servants dealing with the financial industry. |
| islamic finance questions and answers: Islamic Finance as a Complex System Haider Ali Khan, Karamo N.M. Sonko, 2020-07-24 Islamic Finance as a Complex System is a unique collection which provides theoretical, empirical and policy insights into Islamic finance. The authors are theorists and practitioners from prominent institutions, including the world’s biggest Islamic and non-Islamic financial institutions, and well-known academic/research institutions. |
| islamic finance questions and answers: The Paradox of Islamic Finance Ryan Calder, 2024-08-06 How the booming Islamic finance industry became an ultramodern hybrid of religion and markets In just fifty years, Islamic finance has grown from a tiny experiment operated from a Volkswagen van to a thriving global industry worth more than the entire financial sector of India, South America, or Eastern Europe. You can now shop with an Islamic credit card, invest in Islamic bonds, and buy Islamic derivatives. But how has this spectacular growth been possible, given Islam’s strictures against interest? In The Paradox of Islamic Finance, Ryan Calder examines the Islamic finance boom, arguing that shariah scholars—experts in Islamic law who certify financial products as truly Islamic—have made the industry a profitable, if controversial, hybrid of religion and markets. Critics say Islamic finance merely reproduces conventional interest-based finance, with the shariah scholars’ blessing. From an economic perspective, they are right: the most popular Islamic products act like conventional interest-bearing ones, earning healthy profits for Islamic banks and global financial heavyweights like Deutsche Bank and Goldman Sachs. Yet as Calder shows by delving into the shariah scholars’ day-to-day work, what seem like high-tech work-arounds to outsiders carry deep and nuanced meaning to the scholars—and to the hundreds of millions of Muslims who respect their expertise. He argues that shariah scholars’ conception of Islamic finance is perfectly suited to the age of financialization and the global efflorescence of shariah-minded Islam. |
| islamic finance questions and answers: Catalyzing Green Finance Asian Development Bank, 2017-08-01 A large financing need challenges climate-adjusted infrastructure in developing Asia, estimated at $26 trillion till 2030. This necessitates crowding-in private sources to meet financing, efficiency, and technology gaps. However, a lack of bankable projects is a major hurdle. This publication suggests one possible innovative financing approach. The Green Finance Catalyzing Facility (GFCF) proposes a blended finance framework for governments and development entities to better leverage development funds for risk mitigation, generate a pipeline of bankable green infrastructure projects, and directly catalyze private finance. The GFCF provides useful inputs for the current debate on mainstreaming green finance into country financial systems. |
| islamic finance questions and answers: A Socially Responsible Islamic Finance Umar F. Moghul, 2017-02-07 This book explores how, through spirituality and the development of character, Islamic financial institutions and Muslim communities can integrate their businesses with contemporary social responsibility initiatives to produce positive social and environmental impact. From the looming environmental crisis to the divide between mainstream and extremist interpretations of Islam, the book addresses significant questions facing Muslim communities – and humanity – and demonstrates why Islam should sit ‘at the table’ with other faiths and ethical traditions discussing humanity’s great obstacles. Unlike existing literature, this work explores the intersections between classical Islamic ethics and spirituality, contemporary Islamic finance and economic markets, and select sustainability and impact initiatives (such as the Equator Principles and UN Principles of Responsible Investment) designed to make the worlds of business and finance responsible for the environments in which they operate and the communities that support them. Drawing on his years of experience in Islamic banking, Moghul addresses these applications in light of real-world practices and dilemmas, demonstrating how Islamic organizations and Muslim communities should embrace the broad range of stakeholders countenanced by the Shari’ah in conversations that affect them. By situating his exploration of Islamic finance in the light of the much larger critical issues of balance, justice, and moderation in Islamic praxis, Moghul creates an interdisciplinary book that will appeal to academics and researchers in economics, finance, business, government and policy, and law. |
| islamic finance questions and answers: Intermediate Islamic Finance Nabil Maghrebi, Abbas Mirakhor, Zamir Iqbal, 2016-01-08 Explore Islamic finance at a deeper level Intermediate Islamic Finance: Theory and Practice fills the gap for students and professionals who are already familiar with the fundamentals of Islamic finance, but would like to gain an enhanced understanding of Islamic finance theories and practices. This comprehensive text provides you with coverage of global developments and describes the role of Islamic finance within the global finance community to guide you in your understanding of this important aspect of the international financial landscape. The book references advance concepts and specific problems in the practice of Islamic finance, provides suggested further readings for each chapter, offers details of advanced analysis, and presents key data in visual form via graphs, figures, and tables. Profound changes have taken place in the financial landscape over the past few decades, including major innovations in financial instruments and substantial changes in regulation. With global financial markets becoming increasingly important players in the industry, it is critical that today's financial professionals understand the essence and implications of key Islamic finance theories and practices. Build upon your fundamental understanding of Islamic finance Explore some areas of convergence and conflict between Islamic finance and conventional finance Strengthen the harmony between Islamic and conventional finance theories and their applications Prepare for a well-rounded career in finance by better understanding how Islamic finance principles apply Intermediate Islamic Finance: Theory and Practice is an essential text for graduate and post-graduate finance students, economists, researchers, bankers, financial regulators, policymakers, and members of the business community who want to develop a deeper understanding of Islamic finance theories and practices. |
| islamic finance questions and answers: Doing Business with Saudi Arabia Anthony Shoult, 2006 This third edition of Doing Business with Saudi Arabia is the definitive English language guide to business practice and commercial opportunity in the Kingdom, the largest economy in the Middle East. This authoritative guide provides an up-to-date appraisal of the current economic and investment climate, a review of market potential in the key sectors, and unique âbest practiceâ advice on all aspects of commercial engagement with Saudi Arabia. Also included are detailed regional and sectoral profiles. |
| islamic finance questions and answers: Theory and Practice of Modern Islamic Finance Abu Umar Faruq Ahmad, 2009-12 ... 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. |
| islamic finance questions and answers: Disruptive Innovation in Business and Finance in the Digital World J. Jay Choi, Bora Ozkan, 2019-10-21 This volume contains fourteen articles split across four parts, exploring the debate around the topics of fintech, AI, blockchain, and cryptocurrency. Featuring a cast of global contributors, this is an unmissable volume exploring the most current research on digital innovation in the financial and business worlds. |
Islam - Wikipedia
Muslims believe that Islam is the complete and universal version of a primordial faith that was revealed many times through earlier prophets and messengers, including Adam, Noah, …
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Jan 4, 2025 · Islam is one of the world’s major monotheistic religions, with over 1.9 billion followers worldwide. Founded in the 7th century CE by the Prophet Muhammad in the Arabian …
The Islamic Bulletin - A One Stop For All Your Islamic Needs!
We offer many free resources such as Introduction to Islam, free eBooks, Muslim Funeral guide, Hajj guide, Last Will and Testament, Quran studies, Newsletter, videos on How to become …
What is Islam? - IslamiCity
Commonly, Islam refers to the monotheistic religion revealed to Muhammad ibn (son of) Abdullah between 610 and 632 of the Common Era. The name Islam was instituted by the Qur’an, the …
Islam: History, Beliefs, And Modern Significance - WorldAtlas
Jun 3, 2019 · Muslims believe that their sacred text, the Quran, is the absolute word of God as it was revealed to the prophet Muhammad. In the Arabic language Muslim means, “one who …
Islam - Wikipedia
Muslims believe that Islam is the complete and universal version of a primordial faith that was revealed many times through earlier prophets and messengers, including Adam, Noah, …
Islam | Religion, Beliefs, Practices, & Facts | Britannica
6 days ago · Islam, major world religion promulgated by the Prophet Muhammad in Arabia in the 7th century ce. The Arabic term islām, literally “surrender,” illuminates the fundamental …
Islam - Five Pillars, Nation of Islam & Definition | HISTORY
Jan 5, 2018 · Mosques are places where Muslims worship. Some important Islamic holy places include the Kaaba shrine in Mecca, the Al-Aqsa mosque in Jerusalem, and the Prophet …
Islam - World History Encyclopedia
Nov 25, 2019 · Islam is an Abrahamic-monotheistic religion based upon the teachings of Prophet Muhammad ibn Abdullah (l. 570-632 CE, after whose name Muslims traditionally add “peace …
Islam web - English Fatwa | Articles | Quran Recitation | Prayer …
Islamweb - the largest Islamic and cultural content on the Internet for the users contain fatwa, quran, articles , fiqh , lectures , prayer times , about islam etc
What do Muslims believe and do? Understanding the 5 pillars of …
Aug 30, 2021 · There are five pillars – or basic tenets – of Islamic faith. Each of these pillars is an important part of being Muslim.
Religious Beliefs & History of Islam Religion - Islamic Info Center
Jan 4, 2025 · Islam is one of the world’s major monotheistic religions, with over 1.9 billion followers worldwide. Founded in the 7th century CE by the Prophet Muhammad in the Arabian …
The Islamic Bulletin - A One Stop For All Your Islamic Needs!
We offer many free resources such as Introduction to Islam, free eBooks, Muslim Funeral guide, Hajj guide, Last Will and Testament, Quran studies, Newsletter, videos on How to become …
What is Islam? - IslamiCity
Commonly, Islam refers to the monotheistic religion revealed to Muhammad ibn (son of) Abdullah between 610 and 632 of the Common Era. The name Islam was instituted by the Qur’an, the …
Islam: History, Beliefs, And Modern Significance - WorldAtlas
Jun 3, 2019 · Muslims believe that their sacred text, the Quran, is the absolute word of God as it was revealed to the prophet Muhammad. In the Arabic language Muslim means, “one who …
