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Vol 22 No 5 May/June 2017

Book of the Month

Cover of Arlidge, Eady & Smith on Contempt

Arlidge, Eady & Smith on Contempt

Edited by: Patricia Londono, David Eady, A.T.H. Smith, Rt. Hon Lord Eassie
Price: £319.00

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Risk and Regulation of Islamic Banking

ISBN13: 9781783476121
Published: August 2014
Publisher: Edward Elgar Publishing Limited
Country of Publication: UK
Format: Hardback
Price: £90.00

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From a single product offering in 1963, the Islamic financial services industry has grown to an estimated $1.6 trillion in assets. Products must comply with profit and risk-sharing criteria and regulations preventing banks from venturing into activities with high risk and excessive uncertainty.

This timely volume analyses these matters and considers the range of new products, discussing both conceptual and practical dimensions. It connects Islamic finance to the mainstream theoretical literature on financial intermediation while also exploring its differences.

The expert contributors also examine why an ethical foundation is important and why the system requires well-thought-out regulations to ensure outcomes that protect the community’s well-being.

Islamic Law
1. Issues in the Risk and Regulation of Islamic Banking
Mohamed Ariff, Mervyn K. Lewis and Mohamad Shamsher

2. A Theoretical Perspective on Islamic Banking and Financial Intermediation
Mervyn K. Lewis
3. Objectives of Islamic Banking: a Theoretical Discusson
Akram Laldeen
4. Similarities and Differences in Islamic and Conventional Banking
Mohamed Ariff and Mervyn K. Lewis
5. Towards Making ‘Islamic’ Banking Islamic
Munawar Iqbal

Part II: Regulation of Islamic banking
6. Foundations of Risk-Sharing Finance: An Islamic View
Abbas Mirakhor
7. The Role of the Central Bank in Dual Banking Malaysia
Mohamad Shamsher and Veelaiporn Promwichit
8. A Case Study of the Liquidity Management Centre in Bahrain
Sat Paul Parashar

9. Non-interest Financing Arrangements in Three Abrahamic Religions
Ahmad Kaleem and Mervyn K. Lewis
10. Need for Pricing Information to Value Sukuk Securities
Meor Ayeob
11. Major Islamic Banking Products and Markets: A Preliminary Analysis
Mohamed Ariff and Mesam Safari
12. Financial Market Operations in the United States: Ethical Issues and Lessons for Islamic Banking
Raquibuz Zaman

13. Challenges in Rating Islamic Financial Institutions
Yeoh Kim Leng and M.Z. Othman
14. Islamic Norms, Excel Time Value Formula and Housing Finance Models
Zubair Hasan
15. Islamic Finance in Australia
Michael Skully
16. Risk Management and Derivatives in Islamic Fnance
I. Bacha Obiyathullah
17. Development Needs of the Islamic Banking Industry
Mohamed Ariff, Mervyn K. Lewis and Mohamad Shamsher