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Islamic banking has grown rapidly over the past decade and currently continues to grow, while many conventional banks and financial institutions write off $billions of bad debt. In 30 years Islamic banking has developed from local provision to providers of established international financial products.
This book explains the principles of Islamic banking and finance. It then provides a guide to Islamic finance products such as istisna’a, murabaha, musharaka, mudaraba, ijara, sukuk and salam, so that the reader can understand the key concepts and main vocabulary of Islamic finance. It goes on to discuss the application of Islamic products to a variety of financial contexts (e.g. asset management, treasury, risk management, raising finance, tax).
It also provides guidance on the regulatory frameworks for Islamic finance: the role of the Sharia’a Board, UK regulation, and international financial standards.
This is a paperback version of the hardback published in December 2008.