An introduction to islamic finance theory and practice pdf

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an introduction to islamic finance theory and practice pdf

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Abdul Rahim is actively involved in teaching, curriculum development and research in Islamic accounting and finance. His current research interests include accounting for Islamic financial institutions; zakat accounting; shariah auditing; and corporate governance.

Introduction to Islamic Finance Theory and Practice (Revised)

The first book to offer comprehensive coverage of Islamic finance and banking and its applications to the rest of the world, now fully revised and updated The ongoing international financial crisis has reignited debate over the development of a risk-sharing financial system, such as that required in Shariah Law. An Introduction to Islamic Finance: Theory and Practice, Second Edition highlights the core principles of risk sharing in Islam, arguing that a risk-sharing financial system is exactly what we need to promote greater financial stability. Providing comprehensive coverage of the fundamental theory behind Islamic finance and banking, according to the core concepts of Shariah law, authors Zamir Iqbal and Abbas Mirakhor clearly explain the distinct features of an Islamic financial system and how it compares with traditional financial models. Addressing the myriad important developments that have taken place in recent years, this second edition looks to the future, addressing emerging issues sure to influence future developments in Islamic finance. Explores the unique features of an Islamic financial system, how they compare to more traditional financial systems, and how they could improve themDiscusses all the most recent developments and emerging issues in Islamic financeUpdated with the latest developments, trends, innovations, and statistics, this new edition features additional chapters on the financial crisis, globalization, non-bank financial institutions, and recent developments in Takaful Islamic insurance The first edition of An Introduction to Islamic Finance established the book as the market leader, and this newly revised and updated second edition incorporates the most recent developments in this booming financial sector, including financial stability, globalization, and non-banking financial institutions. Search For A Course. Description Reviews 0 Description The first book to offer comprehensive coverage of Islamic finance and banking and its applications to the rest of the world, now fully revised and updated The ongoing international financial crisis has reignited debate over the development of a risk-sharing financial system, such as that required in Shariah Law.

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An Introduction to Islamic Finance: Theory and Practice

It seems that you're in Germany. We have a dedicated site for Germany. Authors: Iqbal , Zamir, Mirakhor , Abbas. This book provides an introductory theoretical foundation of the ethics embedded in Islamic economics and finance, and it shows how this ethical framework could pave the way to economic and social justice. It demonstrates how Islamic finance—a risk-sharing and asset-backed finance—has embedded universal values, ethical rules, and virtues, and how these qualities may be applied to a supposedly value-neutral social science to influence policy-making. This book argues that ethical and responsible finance, such as Islamic finance, could lead the efforts to achieve sustainable economic development. JavaScript is currently disabled, this site works much better if you enable JavaScript in your browser.

The Qur'an prohibits riba , which literally means "increase". Technically riba is the increase when liquid or fungible assets cash, debt, grains, etc. In the late 20th century, as part of the revival of Islamic identity, [4] [Note 1] a number of Islamic banks formed to apply these principles to private or semi-private commercial institutions within the Muslim community. The industry has been lauded for returning to the path of "divine guidance" in rejecting the "political and economic dominance" of the West, [4] and noted as the "most visible mark" of Islamic revivalism, [13] its most enthusiastic advocates promise "no inflation, no unemployment, no exploitation and no poverty" once it is fully implemented. Although Islamic finance contains many prohibitions—such as on consumption of alcohol, gambling, uncertainty, librarism, etc. According to Islamic economists Choudhury and Malik, the elimination of interest followed a "gradual process" in early Islam, "culminating" with a "fully fledged Islamic economic system" under Caliph Umar CE.

An Introduction to Islamic Finance Theory and Practice Second Edition

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Many countries have recently seen a rise in demand for islamic banking services, causing the sector to experience international expansion. There are basically three types of business organizations and for every sort of business organization sources of finance are really important to have. Through these sources of finance, business meets its basic and day to day needs. An introduction to islamic finance theory and practice second edition zamir iqbal and abbas mirakhor.

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