Book description
A comprehensive look at the innovations, applications, and best practices of Islamic finance
Islamic-compliant finance is transacted in every major world financial center, and the need for information on the topic in light of its global reach has grown exponentially. As an expert in this field, author Karen Hunt-Ahmed understands the intricacies of this area of the capital markets. Now, along with the help of a number of experienced contributors, she skillfully addresses Islamic finance from the perspective of practitioners, examining issues in wealth management, contract law, private equity, asset management, and much more.
Engaging and accessible, Contemporary Islamic Finance skillfully explains the practices and innovations of Islamic finance in everything from banking and real estate to private equity, asset management, and many other areas. It is intended to be the go-to resource for both Muslims as well as non-Muslims with an interest in the subject. Divided into three comprehensive parts, it will put you in a better position to understand, and excel at, this important endeavor.
Introduces you to the history, legal structures, and basic financial contracts in the industry
Highlights the various issues facing contemporary Islamic finance practitioners, and details their significance in the contemporary financial and cultural environment
Includes case studies of United States-based transactions and related challenges and successes
Filled with in-depth insights and expert advice, this detailed analysis of Contemporary Islamic Finance will help you gain a firm understanding of how effective this proven approach can be.
Table of contents
- Cover Page
- Title Page
- Copyright
- Dedication
- Contents
- Acknowledgments
- CHAPTER 1: Introduction
-
PART I: The Contemporary Islamic Finance Landscape
- CHAPTER 2: Contemporary Islamic Economic Thought
-
CHAPTER 3: The Legal Framework of Islamic Finance
- ISLAMIC LEGAL THEORY
- SOURCES OF ISLAMIC LAW
- SECONDARY PRINCIPLES OF ISLAMIC JURISPRUDENCE
- THEORETICAL LEGAL SYSTEMS
- BASIC RULES OF ISLAMIC FINANCE
- PROPERTY, TRADE, AND FINANCIAL ETHICS
- PROHIBITION OF RIBA
- PROHIBITION OF GHARAR
- LIMITATIONS ON FREEDOM OF CONTRACT
- STRUCTURES OF ISLAMIC FINANCE PRODUCTS
- SOCIAL AND ECONOMIC DEVELOPMENT
- INTERPRETATION OF ISLAMIC LAW
- DUAL REGULATORY SYSTEMS
- CHALLENGES IN CLOSING TRANSACTIONS
- ENFORCEABILITY OF CONTRACTS
- CONCLUSION
- NOTES
- CHAPTER 4: Globalization and Islamic Finance
- CHAPTER 5: Islamic Science and the Critique of Neoclassical Economic Theory
- CHAPTER 6: Juristic Disagreement
-
CHAPTER 7: Managing Liquidity Risk in Islamic Finance
- INTRODUCTION
- LIQUIDITY MANAGEMENT AND THE CRISIS
- CAUSES OF LIQUIDITY RISK
- CURRENT SOLUTION
- MAIN EXISTING LIQUIDITY MANAGEMENT INSTRUMENT: COMMODITY MURABAHAH
- SALAM SECURITIES AS MONEY MARKET INSTRUMENT
- SHORT-TERM IJARAH SUKUK AS MONEY MARKET INSTRUMENT
- INVESTMENT AGENCY AND LIQUIDITY MANAGEMENT
- MUSHARAKAH CERTIFICATES AS MONEY MARKET INSTRUMENT: THE SUDANESE EXPERIENCE
- MALAYSIAN ISLAMIC INTERBANK MONEY MARKET
- ISLAMIC INTERBANK MARKET AND RECIPROCAL LOANS
- ISLAMIC REPO
- THE WAY FORWARD AND REGULATORS' CONCERNS
- CONCLUSION
- NOTES
- REFERENCES
- CHAPTER 8: Elements of Islamic Wealth Management
- CHAPTER 9: Sukūk and the Islamic Capital Markets
- CHAPTER 10: Shari'a-Compliant Mutual Funds
- CHAPTER 11: The Evolution of Shari'ah-Compliant Indexes and Why They Outperform Conventional Indexes over the Long Term
- CHAPTER 12: Takaful
- CHAPTER 13: Islamic Human Resources Practices
- CHAPTER 14: An Integrated Islamic Poverty Alleviation Model
- CHAPTER 15: How Does an Islamic Microfinance Model Play the Key Role in Poverty Alleviation?
-
PART II: Case Studies
- CHAPTER 16: Islamic Finance in an Almost Postcrisis and Postrevolutionary World
- CHAPTER 17: Stepping Forward, Backward, or Just Standing Still?
- CHAPTER 18: Islamic Mortgages
- CHAPTER 19: Shari'a Quality Rating
- CHAPTER 20: Islamic Mutual Funds' Performance in Saudi Arabia
- CHAPTER 21: Shari'ah -Compliant Real Estate Investment in the United States
- CHAPTER 22: Risk and Derivatives in Islamic Finance
- CHAPTER 23: Islamic Microfinance
- About the Editor
- Index
Product information
- Title: Contemporary Islamic Finance: Innovations, Applications and Best Practices
- Author(s):
- Release date: January 2013
- Publisher(s): Wiley
- ISBN: 9781118180907
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