Contemporary Islamic Finance: Innovations, Applications and Best Practices, 1st Edition

  • Published By:
  • ISBN-10: 1118240332
  • ISBN-13: 9781118240335
  • DDC: 332.088
  • Grade Level Range: College Freshman - College Senior
  • 388 Pages | eBook
  • Original Copyright 2013 | Published/Released February 2014
  • This publication's content originally published in print form: 2013

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Contemporary Islamic Finance explains the practices and innovations of Islamic finance in banking, real estate, private equity, asset management, private banking, law, and other areas. It is intended to be the first resource aimed at lay Muslims as well as non-Muslims with an interest in the subject.  The book is divided into three parts. Part I is an introduction to the history, legal structures and basic financial contracts in the industry. Chapters will include developments in the two largest global Islamic finance markets--the Gulf Cooperation Council (GCC) and Southeast Asia Malaysia/Indonesia)--and how evolution of the industry in those markets affects its practice globally.   In particular, this section will discuss how Islamic finance is practiced within a legal systems dominated by US or British legal traditions. Part II will expose the reader to the practicalities and issues facing contemporary Islamic finance practitioners. The Islamic finance is a dynamic industry. Existing literature tends to idealize financial practices without addressing the cultural and political realities of practicing Islamic anything. Chapters in this section will describe current practices and innovations and their significance in the contemporary financial and cultural environment. Part III will include case studies of United States-based transactions and related challenges and successes. Part III will be particularly helpful to both practitioners from outside of North America and for professors to use in the classroom as real world examples.

Table of Contents

Front Cover.
Half Title Page.
Other Frontmatter.
Title Page.
Copyright Page.
Introduction: Islamic Finance in the World Economy.
1: The Contemporary Islamic Finance Landscape.
2: Contemporary Islamic Economic Thought.
3: The Legal Framework of Islamic Finance.
4: Globalization and Islamic Finance: Flows and Consciousness.
5: Islamic Science and the Critique of Neoclassical Economic Theory.
6: Juristic Disagreement: The Collective Fatwā Against Islamic Banking in Pakistan.
7: Managing Liquidity Risk in Islamic Finance.
8: Elements of Islamic Wealth Management.
9: Sukūk and the Islamic Capital Markets: An Introduction.
10: Shari'a-Compliant Mutual Funds.
11: The Evolution of Shari'ah-Compliant Indexes and Why They Outperform Conventional Indexes over the Long Term.
12: Takaful.
13: Islamic Human Resources Practices.
14: An Integrated Islamic Poverty Alleviation Model.
15: How Does an Islamic Microfinance Model Play the Key Role in Poverty Alleviation?: The European Perspective.
16: Case Studies.
17: Islamic Finance in an Almost Postcrisis and Postrevolutionary World: As in Politics, All Islamic Finance Is Local.
18: Stepping Forward, Backward, or Just Standing Still?: A Case Study in Shifting Islamic Financial Structures Offshore.
19: Islamic Mortgages.
20: Shari'a Quality Rating.
21: Islamic Mutual Funds' Performance in Saudi Arabia.
22: Shari'ah-Compliant Real Estate Investment in the United States.
23: Risk and Derivatives in Islamic Finance: A Shariah Analysis.
24: Islamic Microfinance.
About the Editor.