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The Foundations of Islamic Economics and Banking

Author: Abdulrahman Haitham Shoukat Kabbara

Publisher: Partridge Publishing Singapore

Published: 2014-05-23

Total Pages: 221

ISBN-13: 1482899248

The first part of this book is designed to display the sources and principles of economics and trade transactions in the Islamic community. It analyzes the judicial injunctions against riba and proves that riba including interest is prohibited. Basing the argument on theoretical (Quran and Sunna) as well as the customary practice during the life of the messenger of God in Mekka and Al-Madina. Notably, the Islamic teachings covers both the worldly and religious affairs. This is a very revealing indication that Islam does not only regulate the relations of the human beings with God, but also extends to regulating (i) the relationship of the ruler with the ruled through al-shura, and (ii) economic and financial transactions in the market. Notable among these transactions: a) the abolition of riba and instigating interest-free economy, (b) providing the basic needs of society, (c) achieving social justice by applying zakat levy and other ordinances, and last but not least inheritance law and redistribution of State land for public benefits. The second and third part of the book explains and proves that prohibition of riba does not circumvent trade or paralyze the economy. On the contrary by eliminating injustice inherent in riba, the banking system will be liberated from discrepancies and the economy will perform more efficiently by mitigating the evils of riba.

The Foundations of Islamic Economics and Banking

Author: Abdulrahman Haitham Kabbara

Publisher: LAP Lambert Academic Publishing

Published: 2015-01-12

Total Pages: 232

ISBN-13: 9783659551864

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The book outlines origins of Islamic economics Principles in Shari'a, covering its characteristics, economic problem, and government intervention, public versus private property, work ethics, Al-Hisba and social justice. Theories of the demand for money in western economies are presented followed by an analysis of the meaning, nature, characteristics, and role of money in Islam. Factors affecting the demand for money in an Islamic economy are emphasized. The meaning and features of Riba, its types and economic consequences are discussed. Thorough analyses of the objectives of Islamic banking in theory and practice, types and sources of deposits, and various forms of Riba-free financing operations are in order. Monetary and prudential control in both systems is considered emphasizing religious supervisory responsibility and the Central Bank of Kuwait instructions. Islamic money and capital market is acknowledged by dwelling on sukuk instruments. Transition in practice is analyzed shedding light on Kuwait experience and the macro and microeconomic efficiencies of Islamic model compared with conventional one.

The Foundations of Islamic Banking

Author: Mohamed Ariff

Publisher: Edward Elgar Publishing

Published: 2011-01-01

Total Pages: 297

ISBN-13: 1849807930

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After barely half a century of experience, Islamic banking has become established as a new niche industry across the world offering new and sophisticated financial products designed to be compliant with the principles of Islamic legal principles and common law. This comprehensive book explores the theory, principles and practices underpinning this rapidly expanding sector of banking. Expert contributors ¿ including eminent scholars and senior practitioners in the field ¿ examine the roots of the principles of ethical Islamic financial transactions, which have evolved over several millennia, on issuesincluding usury, interest rates, financial contracting for funding enterprises, for mortgages, for leasing and other financial transactions. Regulatory and governance issues are discussed, and the practice and operation of Islamicfinancial institutions are explained via three distinct case studies. Importantly, the final chapter looks at what steps are being taken to provide professional accreditation to Islamic banking professional personnel, and prescribes requirements for training in this growing industry.

Fundamentals of Islamic Finance and Banking

Author: Syeda Fahmida Habib

Publisher: John Wiley & Sons

Published: 2018-10-08

Total Pages: 327

ISBN-13: 1119371007

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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.

New Issues in Islamic Finance and Economics

Author: Hossein Askari

Publisher: John Wiley & Sons

Published: 2011-12-19

Total Pages: 268

ISBN-13: 1118179641

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New Issues in Islamic Finance & Economics: Progress and Challenges provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.

Islamic Finance

Author: Hans Visser

Publisher: Edward Elgar Publishing

Published: 2009-01-01

Total Pages: 197

ISBN-13: 184844947X

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'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 Economics

Author: Abul Hassan

Publisher: Routledge

Published: 2019-01-10

Total Pages: 356

ISBN-13: 0429777922

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This book is a comprehensive study, which provides informed knowledge within the field of Islamic economics. The authors lay down the principal philosophical foundation of a unique and universal theory of Islamic economics by contrasting it with the perspectives of mainstream economics. The methodological part of the theory of Islamic economics arises from the ethical foundations of the Qur'an and the Sunnah (tradition of the Prophet) along with learned exegeses in an epistemological derivation of the postulates and formalism of Islamic economics. This foundational methodology will be contrasted with the contemporary approaches of the random use of mainstream economic theory in Islamic economics. The book establishes the methodological foundation as the primal and most fundamental premise of the study leading to scientific formalism and the prospect of its application. By way of its Islamic epistemological explanation (philosophical premise) in the form of logical formalism and the use of simple real-world examples, the authors show the reader that the scientific nature of economics in general and Islamic economics in particular rests on the conception of the scientific worldview. With its uniquely comparative approach to mainstream economics, this book facilitates a greater understanding of Islamic economic concepts. Senior undergraduate and graduate students will gain exposure to Islamic perspectives of micro- and macroeconomics, money, public finance, and development economics. Additionally, this book will be useful to practitioners seeking a greater comprehension of the nature of Islamic economics. It will also enable policymakers to better understand the mechanism of converting institutions, such as public and social policy perspectives.

Notes on Islamic Economics

Author: Monzer Kahf

Publisher: CreateSpace

Published: 2014-06-01

Total Pages: 478

ISBN-13: 9781512247039

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This is the third book of the series of Notes on Islamic Economics. It studies the Islamic finance and banking part of Islamic economics in eighteen chapters. chapter 1 foundation of islamic finance chapter 2 principles of islamic finance chapter 3 introduction to islamic finance contracts chapter 4 overview of islamic finance contracts chapter 5 characteristics of islamic finance chapter 6 maqasid al shari'ah in the prohibition of riba chapter 7 islamic financial intermediation chapter 8 comparison of islamic finance with conventional finance chapter 9 islamic banking and development chapter 10 success factors of islamic banks chapter 11 the rise of a power alliance of wealth and shari'ah scholarship chapter 12strategic trends in islamic banking and finance chapter 13 risk management in islamic banking chapter 14innovation in liquidity management instruments chapter 15sukuk: islamic alternative to bonds chapter 16service sukuk for financing public utilities chapter 17cooperative micro finance: an islamic approach chapter 18ethical values in conventional and islamic finance

Theoretical Foundations of Islamic Economics

Author: International Institute of Islamic Thought

Publisher:

Published: 2002

Total Pages: 192

ISBN-13: 9789960321233

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