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This timely guide to Islamic financial practice is aimed at banking professionals and corporate investors worldwide. With similarities to 'ethical investment' in the West, Islamic investment is based on socially-responsible principles excluding areas such as gambling, alcohol, weapons and products that are high-risk / high-return.
Islamic and conventional banking have converged in recent years and investors and asset managers have become increasingly attracted to financial products and the institutions that adhere to Shari'a principles. This important book aims to support and inform investors by providing an accessible guide to the principles and current practice of Islamic banking and Shari'a-compliant finance.
This guide to Islamic finance covers the religious foundations that affect banking and lending practices, trade finance, working capital, credit, commercial real estate investment banking and regulatory issues so that financial professionals and global investors can be Shari'-a compliant. Editor Anwar (European and international commerce law, The College of Law, London) has enlisted the help of international bankers and analysts from firms such as the Bank of London and the Middle East, Credit Suisse and the Islamic Bank of Britain to explain the fundamentals of Shari'-a compliance, and how investors take advantage of banking products that do not pay interest and yet still offer low risk and high returns. Human resources and financial training for Islamic banking institutions is also discussed.