Cover; Title Page; Copyright; Contents; List of Figures; List of Tables; Acknowledgements; About the Author; Preface; About the Website; Chapter 1 Introduction to Islamic Finance and Islamic Economics; Introduction; Creation of Money and Conventional Finance and Banking; Definition of Islamic Finance and Banking; Distinctive Features of Islamic Finance; Economics and Islam; Economics in Ancient Times; Modern Economics; Islamic Economics; History of Islamic Economic Thought; Principles of Islamic Economics; Islam's Solution to the Classic Economic Problem; Islam and the Welfare Economy.
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Prohibition of Speculative Behaviour or MaysirShariah Supervisory Board (SSB); Introduction to the SSB; Formation of the SSB; Status of the SSB Within the Industry; Functions of the SSB; Corporate and Shariah Governance; Shariah Governance Process; Key Terms and Concepts; Chapter Summary; Chapter 3 Islamic Banking versus Conventional Banking; Introduction to Islamic Banking; Islamic Banking versus Conventional Banking; Similarities Between Conventional and Islamic Banks; Differences Between Conventional and Islamic Banking; Relationship with the Central Banks.
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Property Ownership in Islamic EconomicsZakat and Sadaqah; Ban on Interest versus Cost of Capital in Islam; Conventional Economics versus Islamic Economics; Evolution of Islamic Finance; Early Days; Birth of Modern Islamic Finance; Institutional Developments During the Revival of Modern Islamic Finance; The Mit Ghamr Experiment; Tabung Haji; Islamic Development Bank; Dubai Islamic Bank; Rapid Growth of the Islamic Finance and Banking Industry; Islamic Finance and Banking in Muslim Communities and Countries; Islamic Finance and Banking in Non-Muslim Countries.
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Risks of Banks -- Generic and Specific to Islamic BanksGeneric Risks; Risks Specific to Islamic Banks; Financial Intermediation; The Definition of Financial Intermediation; Conventional Financial Intermediation; Islamic Financial Intermediation; Islamic Financial Intermediation Models; Distribution of Islamic Banking Products; Conventional versus Islamic Financial Intermediation; Balance Sheet of an Islamic Bank -- Sources and Uses of Funds by an Islamic Bank; Sources of Funds; Application of Funds; Contracts in Shariah Law; Contracts of Exchange in Shariah-Compliant Commerce and Finance.
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Sub-sectors in the Islamic Finance and Banking IndustryCurrent Status of Modern Islamic Finance and Banking; Timeline of Development of Contemporary Islamic Finance and Banking; Key Terms and Concepts; Chapter Summary; Chapter 2 Shariah Law and the Shariah Supervisory Board; Introduction to the Islamic Law -- Shariah; Sources of Shariah; Schools of Islamic Jurisprudence; Ethics in Shariah-Compliant Business and Finance; Major Shariah Prohibitions and Principles and their Implications; Prohibition of Interest or Riba; Prohibition of Uncertain Dealings or Gharar.
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SUMMARY OR ABSTRACT
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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.