In Understanding Islamic Finance Muhammad Ayub introduces all the essential elements of this growing market by providing an in-depth background to the subject and clear descriptions of all the major products and processes associated with Islamic finance. Key features include: _ Discussion of the principles of Islamic finance; _ Introduction to the key products and procedures that International Financial Institutions are using or may adopt to fund a variety of clients ensuring Shar+´ah compliance; _ Discussion of the role Islamic finance can play in the development of the financial system…mehr
In Understanding Islamic Finance Muhammad Ayub introduces all the essential elements of this growing market by providing an in-depth background to the subject and clear descriptions of all the major products and processes associated with Islamic finance.
Key features include: _ Discussion of the principles of Islamic finance; _ Introduction to the key products and procedures that International Financial Institutions are using or may adopt to fund a variety of clients ensuring Shar+´ah compliance; _ Discussion of the role Islamic finance can play in the development of the financial system and of economies; _ Practical and operational examples that cover deposit and fund management by banks involving financing of various sectors of the economy, risk management, accounting treatment, and working of Islamic financial markets and instruments.
This book is not only an important text for all banks and financial institutions entering this particular market with a commitment to building Islamic financial solutions, but is also essential reading for undergraduate and postgraduate students of Islamic finance.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
MUHAMMAD AYUB is Director Training, Development and Shari'ah Aspects at IIBI, London. Formerly, he was with the State Bank of Pakistan (central bank) where he headed the Islamic Economics Division and Shari'ah Compliance Division as Senior Joint Director in the Research and Islamic Banking Departments. He also served as Head of Islamic Banking at NIBAF, the training wing of SBP. Besides contributing a large amount of material, he has been serving as Master Trainer on theory and practice of Islamic finance. For last two decades, he has been involved in R&D for facilitating I.B. Industry, Products Development, IB Prudential regulations, Risk management and Shari'ah related controls and audit of Islamic banking institutions. This, along with his association with various Commissions set up from time to time on application of Islamic banking system, has lent him a pragmatic and balanced approach, a prerequisite for presenting such a book.
Inhaltsangabe
List of Boxes and Figures
Foreword
Preface
Acknowledgements
PART I FUNDAMENTALS
1 Introduction
2 Distinguishing Features of the Islamic Economic System
3 The Main Prohibitions and Business Ethics in Islamic Economics and Finance
4 The Philosophy and Features of Islamic Finance
PART II CONTRACTUAL BASES IN ISLAMIC FINANCE
5 Islamic Law of Contracts and Business Transactions
6 Trading in Islamic Commercial Law
7 Loan and Debt in Islamic Commercial Law
PART III ISLAMIC FINANCE - PRODUCTS AND PROCEDURES
8 Overview of Financial Institutions and Products: Conventional and Islamic
9 Murabaha and Musawamah
10 Forward Sales: Salam and Istisna'a
11 Ijarah - Leasing 279
12 Participatory Modes: Shirkah and its Variants
13 Some Accessory Contracts
14 Application of the System: Financing Principles and Practices
Appendix: The Major Functions of a Shar+´ah Supervisory Board in the Light of the AAOIFI'S Shar´ah Standard
15 Sukuk and Securitization: Vital Issues in Islamic Capital Markets
16 Takaful: An Alternative to Conventional Insurance
Appendix: Fatwa (Juristic Opinions) on Different Aspects of Insurance
17 An Appraisal of Common Criticism of Islamic Banking and Finance
2 Distinguishing Features of the Islamic Economic System
3 The Main Prohibitions and Business Ethics in Islamic Economics and Finance
4 The Philosophy and Features of Islamic Finance
PART II CONTRACTUAL BASES IN ISLAMIC FINANCE
5 Islamic Law of Contracts and Business Transactions
6 Trading in Islamic Commercial Law
7 Loan and Debt in Islamic Commercial Law
PART III ISLAMIC FINANCE - PRODUCTS AND PROCEDURES
8 Overview of Financial Institutions and Products: Conventional and Islamic
9 Murabaha and Musawamah
10 Forward Sales: Salam and Istisna'a
11 Ijarah - Leasing 279
12 Participatory Modes: Shirkah and its Variants
13 Some Accessory Contracts
14 Application of the System: Financing Principles and Practices
Appendix: The Major Functions of a Shar+´ah Supervisory Board in the Light of the AAOIFI'S Shar´ah Standard
15 Sukuk and Securitization: Vital Issues in Islamic Capital Markets
16 Takaful: An Alternative to Conventional Insurance
Appendix: Fatwa (Juristic Opinions) on Different Aspects of Insurance
17 An Appraisal of Common Criticism of Islamic Banking and Finance
18 The Way Forward
Acronyms
Glossary
References
Arabic/Urdu References
Suggested Further Reading
Index
Rezensionen
"Muhammad Ayub has provided the most comprehensive treatment to date of the contracts, products and systems used in Islamic finance. He explores how the concepts are rooted in the Islamic economic system in a way that will appeal to academics while at the same time giving a coherent account of the products that finance practioners should find helpful." - Professor Rodney Wilson, Director of Postgraduate Studies, Durham University.
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