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BookReview
An Introduction to Islamic Finance: Theory and Practice
by Zamir Iqbal, Abbas Mirakhor John Wiley & Sons, 2nd edition/ £28.98
Islamic finance has experienced remarkable growth over the last three decades and the global demand for financial products and services that comply with economic and financial principles of Islam is increasing day by day. For newcomers to this burgeoning market, An Introduction to Islamic
Finance: Theory and Practice offers an excellent overview of the principal concepts from two leading scholars in Islamic finance. This book explains the fundamental principles and functions of an economic, banking and financial system based on principles derived from the basic sources of Islam. Rules constituting the institutional scaffolding of such a system— property rights principles, sanctity of contracts and the requirement of faithfulness to terms and conditions of contracts, trust and trustworthi- ness, risk sharing, and prohibition of interest–rate based debt contracts among others—are discussed with relation to the economic behavior of individuals, society and state.
Dr. Zamir Iqbal, affiliated with the World Bank, and Dr. Abbas Mirakhor, former Dean of Executive Directors at the International Monetary Fund (IMF) and, presently First Holder of INCEIF Chair of Islamic Finance in Kuala Lumpur, bring their theoretical knowledge and experience of eco- nomics, finance, banking, and capital markets to provide valuable in- sights to the fast growing Islamic financial services industry. In the wake of the recent financial crisis, An Introduction to Islamic Finance offers a comprehensive and practical guide for anyone seriously interested in understanding the Islamic finance alternative and the enormous poten- tial it holds.
ISBN-10: 0470828080 ISBN-13: 978-0470828083
Islamic Finance: Principles and Prac- tice, by Hans Visser MM, 1st edition/ £18.95
Hans 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 au- thor describes the forms Islamic finance has tak- en, analyzes the problems that it faces, and con-
fronts 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 phe- nomenon, 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.
78 Global Islamic Finance April 2012
Business News
IIslamic Finance For Dummies By Dr. Faleel Jamaldeen
A detailed look at the fast–growing field of Is- lamic 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
Coming in September 2012
Global Growth, Opportunities and Chal- lenges in the Sukuk Market by Sohail Jaffer Euromoney Trading Inc, 1st edition/ £148.75
This innovative new book is essential to under- stand how the world economy and therefore population whether through governments or corporations can benefit from Islamic bonds. It investigates and reviews the key market chang- es and developments in the sukuk market. This book goes further than any of the general books on sukuk that are available.
It looks at how the sukuk market has evolved and where it is now, but most importantly it looks at regulation of the industry, defaulting sukuk and the implications. This valuable reference tool supplements general sukuk books and is essential for those involved with sukuk and who are looking to learn about how it has changed and what it means for them. The book covers: an overview of Sukuk and latest trends; the various roles of Sukuk in the economy; Sukuk Structuring and Distribution; Su- kuk listing on international stock exchanges; Rating and accounting of Sukuk; the future of Sukuk. Sohail Jaffer, editor of many best-selling ti- tles published by Euromoney Books, has invited leading seasoned prac- titioners to contribute their knowledge and experience. You will find the overall book a useful mine of information to guide you through the Is- lamic capital markets’ intricacies
ISBN-10: 1843747596 ISBN-13: 978-1843747598
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