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Vol 23 No 4 April/May 2018

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Williams, Mortimer and Sunnucks: Executors, Administrators and Probate

Edited by: Alexander Learmonth, Charlotte Ford, Julia Clark, John Ross Martyn
Price: £295.00

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Mastering Islamic Finance: A Practical Guide to Sharia-Compliant Banking, Investment and Insurance

ISBN13: 9781292001449
Published: March 2015
Publisher: FT Prentice Hall
Country of Publication: UK
Format: Paperback
Price: £65.00

Despatched in 4 to 6 days.

A practical and accessible guide to Islamic finance that helps demystify the differences with conventional banking, enabling practitioners to develop Sharia compliant products for customers.

The Islamic Finance industry is estimated to be worth $1.2 trillion and is growing globally at over 10% per year. Mastering Islamic Finance will give practitioners an understanding of Islamic finance, from the basic techniques, through to advanced applications.

Helping to demystify and clarify the differences with conventional banking, it will enable practitioners to develop Sharia compliant products for customers. According to Sharia law there are strict rules on how financial services and products can be designed; in Islamic Finance money cannot make money and the subject of the finance must be an asset or a verifiable, real trade or business activity.

Sharia compliant financial instruments have been devised to enable Muslims to abide by the principles of Islam and still make the most of their money. Mastering Islamic Finance will equip readers with an understanding of Islamic financial instruments so they can sensibly apply them in practice.

For each instrument there is a definition of the concept and how it differs from its equivalent in conventional banking. There are also examples and case studies to highlight practical applications.

Banking and Finance, Islamic Law
About the author
Publisher's acknowledgements

Part 1: Background
1. The Islamic Finance Phenomenon Why does Islamic Finance exist? Why is it now a sizeable and growing market? Key Challenges Facing the Industry
2. Islam - key beliefs, principles & practices Belief system Key practices - the five pillars Importance of the Qur'an and Sunnah Interpretation of the Sharia The role of scholars/the Sharia Supervisory Board in Islamic Finance
3. How Islamic Finance differs from conventional banking The Islamic Economic model Key Islamic Finance principles
4. Valid Commercial Contracts in Islamic Finance Key conditions for validity of contracts Integrity of Contractual Arrangements Status and use of Promises

Part 2: Islamic Finance in Practice
5. Key Transaction Types in IF Equity type transactions: Musharaka (Partnership
both parties contribute capital) Mudaraba (Partnership
one party contributes capital) Asset finance: Murabaha (Sale of an asset at a known profit mark up) Ijara (Leasing of an asset) Istisn'a (Sale of an item to be constructed or manufactured) Salam (Sale of fungible item yet to be produced) Other key transaction types: Wakala (Agent providing services to a Principal) Hawalah (Transferring a debt) Rahn (Providing security) Kafalah (Providing a guarantee)
6. Sukuk Definition Types of sukuk Mechanics of a sukuk transaction Sukuk and the secondary market A strong future for sukuk
7. Sharia Compliant Wealth Management Sharia compliant investments Zakat by Iqbal Nasim Sharia compliant estate distribution and Islamic Wills by Haroon Rashid
8. Takaful - Islamic Insurance Sharia perspective on conventional insurance Takaful - the Islamic alternative Takaful models Types of takaful policy The future of the takaful industry
9. The future of Islamic Finance The Christian view of usury by Robert Van De Weyer The future of Islamic Finance by Dr Sayd Farook The secret to long term success: get the direction of travel right by Faizal Karbani

Series: FT Mastering

£60.00 - Unavailable at Publisher