Last edited by Moogule
Wednesday, January 29, 2020 | History

2 edition of Islamic banking and finance found in the catalog.

Islamic banking and finance

Islamic banking and finance

  • 122 Want to read
  • 16 Currently reading

Published by Routledge in Abingdon, New York, NY .
Written in English

    Subjects:
  • Banks and banking -- Religious aspects -- Islam,
  • Finance -- Religious aspects -- Islam,
  • Banks and banking -- Islamic countries,
  • Banking law (Islamic law)

  • Edition Notes

    Includes bibliographical references and index.

    Statementedited by Amer Al-Roubaie & Shafiq Alvi.
    SeriesCritical concepts in economics
    ContributionsAl-Roubaie, Amer., Alvi, Shafiq.
    Classifications
    LC ClassificationsHG3368.A6 I85123 2009
    The Physical Object
    Paginationp. cm.
    ID Numbers
    Open LibraryOL23919377M
    ISBN 109780415485760, 9780415488747, 9780415488730, 9780415488723, 9780415488716
    LC Control Number2009045678

    Contracts of safety and security are often used by Islamic banks; these contracts help individual and business customers keep their funds safe: Wadia: A property owner gives property to another party for the purpose of safeguarding. In total, more than Islamic financial institutions have been established worldwide since the s, including about Islamic banks. Islamic insurance Takaful is also covered. The musharaka principle is similar to the concepts of partnership and joint stock ownership and is invoked in the equity structure of Islamic banks.

    The source is an almost page long detailed examination of Islamic economics and finance by one Muhammad Akran Khan, "The author's expertise isn't what I'd hoped. It is interesting to note that similar initiatives exist in other faiths—the STOXX Index for example only selects companies that respect Christian values. Hence, the owner of capital has the legitimate right to share the profits made by the entrepreneur. It's fairly academic and no-nonsense.

    For example, investments involving alcohol, gambling, pork, and other forbidden items is prohibited. Rahn: A property is pledged against an obligation. Mudaraba is one of the pillars of Islamic banking. The musharaka principle is similar to the concepts of partnership and joint stock ownership and is invoked in the equity structure of Islamic banks.


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Islamic banking and finance book

Key principles that Islamic firms follow Based on the core concepts of Islamic economics, Islamic finance institutions adhere to certain principles that distinguish them from conventional finance. 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.

However, profit-sharing is permissible in Islam, because only the profit-sharing ratio is predetermined rather than the rate of return itself. El-Gamal ISBN: Publication Date: This book provides an overview of the practice of Islamic finance and the historical roots that define its modes of operation.

By combining legal analysis with statistical description of existing practices and social demand, this book provides an exhaustive account of the current potential of Islamic finance in Europe.

Both parties lack control over that transaction because outside forces such as weather or overfishing may prevent the delivery of all the fish expected per the contract.

However, if there are losses, the rabbul-mal will bear the all. This presents a fantastic opportunity for both new local banks and more established players who would like to enter the market. He acted as an agent for her business, using many of the same principles used Islamic banking and finance book contemporary Islamic banking.

Searching for balance in Islamic finance Islamic economics is based on core concepts of balance, which help ensure that the motives and objectives driving the Islamic finance industry are beneficial to society.

We are here to help, so please contact us if you have any questions! Islam tries to achieve social justice in the economy in many ways, among them Requiring zakat: To promote justice related to the distribution of wealth, Islam imposes a property tax called zakat.

While conventional microfinance institutions have succeeded in reaching impoverished people worldwide, the vast majority of Muslims across the globe refrain from using their products because the element of interest is considered unacceptable to Sharia.

Islamic banks also purchase and sell properties on a deferred payment basis, a process called bai' muajjal. Contracts of exchange are sales contracts that allow for the transfer of a commodity for another commodity, the transfer of a commodity for money, or the transfer of money for money: Murabaha: In this cost plus contract, an Islamic financial institution sells a commodity to a buyer for its cost plus the profit margin, and both parties know the cost and the profit in advance.

It is therefore essential that the solution is sufficiently agile to launch the right new products quickly and easily thus keeping the costs down and passing these on to their customersoffering banks the control to create products themselves through a product builder tool.

Ahmad El Najjar led the first modern experiment with Islamic banking in Egypt inwhich was in the form of a savings bank based on non profit sharing. Hence, the owner of capital has the legitimate right to share the profits made by the entrepreneur. In economic terms, this means lender and borrowers are forbidden from charging or paying interest or riba.

But Islamic finance is evolving rapidly and continues to expand to serve a growing population of Muslims as well as conventional, non-Muslim investors.

Although estimates of the size of the Islamic finance industry vary greatly, everyone agrees that it is expanding rapidly and this is the perfect book for anyone looking to understand the industry. Editors have permission to delete these "External links modified" talk page sections if they want to de-clutter talk pages, but see the RfC before doing mass systematic removals.

Gharar exists when two parties enter a contract and one party lacks complete information or when both parties lack control over the underlying transaction.

This mode of financing is called mudaraba in Islamic literature.In this book the Author told about Tools and Techniques for Community-Based Banking. This book is a strong effort to introduce this new brand of banking, which is based on the Judeo-Christian-Islamic value system while upholding the laws of.

Islamic banking, also known as non-interest banking, is a banking system that is based on the principles of Islamic or Sharia law and guided by Islamic economics. The Islamic Banking and Finance Workbook Step-by-Step Exercises to Help You Master the Fundamentals of Islamic Banking and Finance Brian Kettell A John Wiley and Sons, Ltd., Publication.

Jul 05,  · The Islamic Banking and Finance Workbook book. Read reviews from world’s largest community for readers. The ongoing turbulence in the global financial ma /5.

Islamic Finance المالية الإسلامية

confusing the Islamic financing with the conventional system based on interest. The present book is a revised collection of my different articles that aimed at providing basic information about the principles and precepts of Islamic finance, with special reference to the modes of financing used by the Islamic banks and non-banking financial.

Support move to "Islamic banking and finance". GregKaye has convinced me. Also, Google Books search gets about 1, results for "Islamic banking and finance" and about 2, resuls for "Islamic finance". So "Islamic banking and finance", as a phrase, is common enough in usage, and it .