Synopses & Reviews
A detailed look at the fast-growing Islamic banking and finance sector
Here, you'll find clear and easy-to-understand information on how the Islamic finance industry works. You'll quickly and easily: become acquainted with the theory, practice, and limitations of Islamic banking; understand how Islamic financial firms develop products; grasp the objectives and sources of Islamic law and the basic guidelines for business contracts; learn about Islamic fund management, sukuk, and insurance; and much more.
- Islamic finance 101 get a crash course on the fundamentals and key principles of the Islamic finance industry
- Get to know sharia discover how Islamic law, known as "sharia," influences Islamic business practices and commercial contracts
- Eye up the operations find out how an Islamic commercial bank's function, structure, supervision, and products differ from those of a conventional bank
- Filter funds by Islamic criteria grasp the fairly recent development of Islamic capital markets that feature sharia-compliant equity products (and the screening process that ensures assets are compliant)
- Consider corporate governance get the 4-1-1 on the governance typically found at Islamic financial institutions and how it compares to a conventional firm
Open the book and find:
- The concepts and principles of Islamic finance
- What you need to know about Islam and the role of sharia
- Islamic ethics in the finance industry
- The relationship between conventional and Islamic banks
- Financial products available from Islamic banks and other firms
- Managing risk in Islamic financial institutions
- Plain-English guidance on Islamic insurance
Learn to:
- Compare and contrast this financial sector to the Western model
- See how concepts of social justice apply to Islamic financial products
- Grasp Islamic fund management and insurance
Synopsis
A detailed look at the fast-growing field of Islamic banking and financeThe 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
With the help of Islamic Finance For Dummies, you'll discover the fast and easy way to tap into the booming Islamic finance arena.
About the Author
Faleel Jamaldeen, DBA, is the founder and editor of the Islamic Finance Expert website (ifinanceexpert.wordpress.com). He is an Assistant Professor at Effat University, Jeddah, Saudi Arabia, where he teaches courses in conventional finance, Islamic finance, and accounting.
Table of Contents
Introduction 1
Part I: The Basics of Islamic Finance 9
Chapter 1: Easing into Islamic Finance 11
Chapter 2: Getting to Know Islam and the Role of Sharia 27
Chapter 3: The History of Islamic Finance 43
Chapter 4: Touring the Islamic Finance Industry 55
Part II: Introducing Islamic Commercial Law 73
Chapter 5: Adhering to Islamic Commercial Ethics 75
Chapter 6: Focusing on Contracts 87
Part III: Eyeing Islamic Banking Operations 99
Chapter 7: Contrasting Conventional and Islamic Commercial Banking 101
Chapter 8: Charting the Relationship between Conventional and Islamic Banks 117
Chapter 9: Tracing the Sources and Uses of Funds in Islamic Banks 129
Chapter 10: Familiarizing Yourself with Islamic Financial Instruments 145
Part IV: Islamic Investment Markets: Equity and Bonds 163
Chapter 11: Introducing the Islamic Capital Market 165
Chapter 12: Managing Assets in Islamic Investments 187
Chapter 13: Investing in Islamic Bonds: Sukuk 207
Part V: Reporting, Corporate Governance, and Supervision 229
Chapter 14: Issuing Financial Statements 231
Chapter 15: Considering Corporate Governance 245
Chapter 16: Supervising Operations: The Sharia Board 261
Chapter 17: Managing Risk in Islamic Financial Institutions 275
Part VI: Islamic Insurance: Takaful 291
Chapter 18: Takaful: Exploring the Fundamentals of Islamic Insurance293
Chapter 19: Takaful and Retakaful Products, Structures, and Governance 305
Part VII: The Par t of Tens 323
Chapter 20: Ten Reasons the West Should Pay Attention to Islamic Finance 325
Chapter 21: Ten Economic Benefits of Following Islamic Principles 331
Appendix: Glossary 339
Index 349