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Islamic Banking and Finance 2 Volume Set. Introduction to Islamic Banking and Finance and The Islamic Banking and Finance Workbook. The Wiley Finance Series - Product Image

Islamic Banking and Finance 2 Volume Set. Introduction to Islamic Banking and Finance and The Islamic Banking and Finance Workbook. The Wiley Finance Series

  • Published: June 2011
  • Region: Middle East
  • 344 Pages
  • John Wiley and Sons Ltd

Islamic finance is the fastest growing sector within the financial market place, a growth rate which has not been matched by the vast need for educational and training publications.

This set brings together two leading resources for Islamic banking and finance:  An Introduction to Islamic Banking and Finance, and The Islamic Banking and Finance Workbook.  The set provides coverage of a range of key concepts of Islamic finance, and tests readers understanding of the industry, coupled with a purposefully designed workbook featuring questions and answers, chapter summaries and learning objectives, enabling readers to test their understanding of the main principles of Islamic finance.

2VS Contents:

Introduction to Islamic Banking and Finance

Islamic Banking and Finance Workbook

Introduction to Islamic Banking

Preface.

About the Author.

1 Muslim Beliefs.
1.1 Five Pillars of Faith.
1.2 Six Islamic Creeds.
1.3 Belief in Allah and His Attributes.
1.4 Belief in Destiny.
1.5 Belief in Angels.
1.6 Belief in Apostles.
1.7 Belief in the Revealed Books.
1.8 Belief in the Hereafter.

2 Sharia'a Law and Sharia'a Boards: Roles, Responsibility and Membership.
2.1 Definition of the Sharia'a.
2.2 Allah is the Law Giver.
2.3 Objectives of the Sharia'a.
2.4 Sources of the Sharia'a.
2.5 Sharia'a Islamic Investment Principles.
2.6 Conditions for Investment in Shares.
2.7 Sharia'a Supervisory Board (SSB).
2.8 Sharia'a Board Scholar Qualifications.
2.9 State Bank of Pakistan (SBP): Proper Criteria for Appointment of Sharia'a Advisors.

3 Definition of Islamic Banking.
3.1 Conventional Bankers and Islamic Banking.
3.2 Six Key Islamic Banking Principles.
3.3 Definition of Asymmetric Information.
3.4 Origins of Asymmetric Risk within Islamic Banking.
3.5 Riba in the Qur'an and Sunnah or Hadith.
3.6 Five Reasons for the Prohibition of Riba.

4 Murabaha as a Mode of Islamic Finance.
4.1 Murabaha Transactions.
4.2 What Makes Murabaha Sharia'a Compliant?
4.3 Islam Treats Money and Commodities Differently.
4.4 Murabaha and the Sharia'a.
4.5 Practicalities of Implementing Murabaha.
4.6 Sharia'a Rules Concerning Murabaha.
4.7 Reasoning Behind Sharia'a Rules.
4.8 Practical Examples of the Application of Murabaha.
4.9 Key Issues Associated with Murabaha.
4.10 Comparison of Murabaha with Interest-Based Finance.
4.11 Murabaha Differences from the other Islamic Financing Techniques.
4.12 Summary.
Reference.

5 Mudaraba as a Mode of Islamic Finance.
5.1 Definition of Mudaraba.
5.2 What makes Mudaraba Sharia’a Compliant?
5.3 Practicalities of Implementing Mudaraba.
5.4 Sharia'a Rules Concerning Mudaraba.
5.5 Practical Examples of Mudaraba.
5.6 Key Issues Associated with Mudaraba.
5.7 Comparison of Mudaraba with the Conventional Banking Equivalent.
5.8 Mudaraba: Differences from the other Islamic Financing Techniques.
5.9 Summary.
Reference.

6 Musharaka as a Mode of Islamic Finance.
6.1 Definition of Musharaka.
6.2 What makes Musharaka Sharia'a Compliant?
6.3 Practicalities of Implementing Musharaka.
6.4 Sharia'a Rules Concerning Musharaka.
6.5 Practical Examples of Musharaka.
6.6 Problems Associated with Musharaka.
6.7 Comparison of Musharaka with the Conventional Banking Equivalent.
6.8 Summary.
Reference.

7 Ijara as a Mode of Islamic Finance.
7.1 Definition of Ijara.
7.2 What makes Ijara Sharia'a Compliant?
7.3 Practicalities of Implementing Ijara.
7.4 Sharia'a Rules Concerning Ijara.
7.5 Basic Rules of Islamic Leasing.
7.6 Practical Examples of Ijara.
7.7 Key Differences between an Ijara Contract and a Conventional Lease.
7.8 Comparison of Ijara with the Conventional Banking Equivalent.
7.9 Ijara: Differences from the other Islamic Financing Techniques.
7.10 Summary.
Reference.

8 Istisna'a as a Mode of Islamic Finance.
8.1 Definition of Istisna'a.
8.2 What makes Istisna’a Sharia'a Compliant?
8.3 Practicalities of Implementing Istisna'a.
8.4 Sharia'a Rules Concerning Istisna'a.
8.5 Practical Examples of Istisna'a.
8.6 Key Issues Associated with Istisna'a.
8.7 Comparison of Istisna'a with the Conventional Banking Equivalent.
8.8 Istisna'a: Differences from the other Islamic Financing Techniques.
8.9 Summary.
Reference.

9 Salam as a Mode of Islamic Finance.
9.1 Definition of Salam.
9.2 What makes Salam Sharia'a Compliant?
9.3 Practicalities of Implementing Salam.
9.4 Sharia'a Rules Concerning Salam.
9.5 Sharia'a Rules Concerning Parallel Salam.
9.6 Practical Examples of Salam.
9.7 Benefits of the Salam Contract.
9.8 Problems Associated with Salam.
9.9 Comparison of Salam with the Conventional Banking Equivalent.
9.10 Salam: Differences from the other Islamic Financing Techniques.
9.11 Summary.
Reference.

10 Takaful: Islamic Insurance.
10.1 Case for Islamic Insurance.
10.2 Islamic Issues with Conventional Insurance.
10.3 Definition and Concept of Takaful.
10.4 Islamic Origins of Takaful.
10.5 Where Insurance Fits within Islam.
10.6 Definition of the Parties to a Takaful.
10.7 Takaful in Practice.
10.8 Takaful and Conventional Insurance.
10.9 Alternative Models of Takaful.
10.10 Sharia'a Law as Applied by Takaful Operators.
10.11 Takaful Operators.
10.12 Definition of ReTakaful (Reinsurance).
10.13 Retakaful.
10.14 Role of the Sharia'a Board in Takaful.

Appendix 1. Comparative Features of Islamic Financing Techniques.
A.1 Nature of the Financing.
A.2 Role of the Finance Provider in the Management/Use of Funds.
A.3 Risk Bearing by the Finance Provider.
A.4 Uncertainty of the Rate of Return on Capital for the Finance Provider.
A.5 Cost of Capital for the Finance User.
A.6 Relationship Between the Cost of Capital and the Rate of Return on Capital.

Appendix 2. Top 500 Islamic Institutions 1–73.

Glossary.

Bibliography.

Index.

Finance and The Islamic Banking and Finance Workbook

Preface.

About the Author.

1 What Do You Know About Islam?
1.1 Learning Outcomes, Summary Overview and Problems.
1.1.1 Learning Outcomes.
1.1.2 Summary Overview.
1.2 Questions.
1.3 Answers.

2 Sources of Sharia'a Law and the Role of Sharia'a Boards.
2.1 Learning Outcomes, Summary Overview and Problems.
2.1.1 Learning Outcomes.
2.1.2 Summary Overview.
2.1.3 Sharia'a Supervisory Board.
2.2 Questions.
2.2.1 General.
2.2.2 Responsibilities of the Parties to the Sharia'a Contracts.
2.2.3 Islamic Finance Terminology Quiz.
2.3 Answers.
2.3.1 General.
2.3.2 Responsibilities of the Parties to the Sharia'a Contracts.
2.3.3 Islamic Finance Terminology Quiz.

3 Principles of Islamic Banking and Finance.
3.1 Learning Outcomes, Summary Overview and Problems.
3.1.1 Learning Outcomes.
3.1.2 Summary Overview.
3.1.3 History of Islamic Banking.
3.1.4 Islamic Banking Principles.
3.2 Questions.
3.2.1 General.
3.2.2 Islamic Banking Principles.
3.3 Answers.
3.3.1 General.

4 The Murabaha Contract as a Mode of Islamic Finance.
4.1 Learning Outcomes, Summary Overview and Problems.
4.1.1 Learning Outcomes.
4.1.2 Summary Overview.
4.2 Questions.
4.2.1 What are the Features of the Murabaha Contract?
4.2.2 The Murabaha Contract.
4.2.3 Risks with the Murabaha Contract.
4.3 Answers.
4.3.1 What are the Features of the Murabaha Contract?
4.3.2 The Murabaha Contract.
4.3.3 Risks with the Murabaha Contract.

5 The Mudaraba Contract as a Mode of Islamic Finance.
5.1 Learning Outcomes, Summary Overview and Problems.
5.1.1 Learning Outcomes.
5.1.2 Summary Overview.
5.2 Questions.
5.2.1 What are the Features of the Mudaraba Contract?
5.2.2 The Mudaraba Contract.
5.2.3 Musharaka versus the Mudaraba Contract.
5.2.4 Risks with the Mudaraba Contract.
5.3 Answers.
5.3.1 What are the Features of the Mudaraba Contract?
5.3.2 The Mudaraba Contract.
5.3.3 Musharaka versus the Mudaraba Contract.
5.3.4 Risks with the Mudaraba Contract.

6 The Musharaka Contract as a Mode of Islamic Finance.
6.1 Learning Outcomes, Summary Overview and Problems.
6.1.1 Learning Outcomes.
6.1.2 Summary Overview.
6.1.3 Criticism of Musharaka.
6.2 Questions.
6.2.1 What are the Features of the Musharaka Contract?
6.2.2 The Musharaka Contract.
6.2.3 Risks with the Musharaka Contract.
6.3 Answers.
6.3.1 What are the Features of the Musharaka Contract?
6.3.2 The Musharaka Contract.
6.3.3 Risks with the Musharaka Contract.

7 The Ijara Contract as a Mode of Islamic Finance.
7.1 Learning Outcomes, Summary Overview and Problems.
7.1.1 Learning Outcomes.
7.1.2 Summary Overview.
7.2 Questions.
7.2.1 What are the Features of the Ijara Contract?
7.2.2 The Ijara Contract.
7.2.3 The Ijara wa Iqtina Contract.
7.2.4 The Ijara Contract in more detail.
7.2.5 Risks with the Ijara Contract.
7.3 Answers.
7.3.1 What are the Features of the Ijara Contract?
7.3.2 The Ijara Contract.
7.3.3 The Ijara Wa Iqtina Contract.
7.3.4 The Ijara Contract in more detail.
7.3.5 Risks with the Ijara Contract.

8 The Istisna'a Contract as a Mode of Islamic Finance.
8.1 Learning Outcomes, Summary Overview and Problems.
8.1.1 Learning Outcomes.
8.1.2 Summary Overview.
8.2 Questions.
8.2.1 What are the Features of the Istisna'a Contract?
8.2.2 The Istisna'a Contract.
8.2.3 Istisna'a and Salam Contracts.
8.2.4 Risks with the Istisna'a Contract.
8.3 Answers.
8.3.1 What are the Features of the Istisna'a Contract?
8.3.2 The Istisna'a Contract.
8.3.3 Istisna'a and Salam Contracts.
8.3.4 Risks with the Istisna'a Contract.

9 The Salam Contract as a Mode of Islamic Finance.
9.1 Learning Outcomes, Summary Overview and Problems.
9.1.1 Learning Outcomes.
9.1.2 Summary Overview.
9.2 Questions.
9.2.1 What are the Features of the Salam Contract.
9.2.2 The Salam Contract.
9.2.3 Istisna’a and Salam Contracts.
9.2.4 Risks with the Salam Contract.
9.3 Answers.
9.3.1 What are the Features of the Salam Contract.
9.3.2 The Salam Contract.
9.3.3 Istisna’a and Salam Contracts.
9.3.4 Risks with the Salam Contract.

10 Takaful: Islamic Insurance.
10.1 Learning Outcomes, Summary Overview and Problems.
10.1.1 Learning Outcomes.
10.1.2 Summary Overview.
10.1.3 Takaful Products are Based on Three Main Business Models.
10.2 Questions.
10.2.1 Takaful Terminology and Concepts.
10.2.2 Takaful Principles.
10.3 Answers.
10.3.1 Takaful Terminology and Concepts.
10.3.2 Takaful Principles.

Glossary.

Bibliography.

Index.

Brian Kettell (London, UK) has a wealth of practical experience in the area of Islamic banking and finance. He worked for several years as an economic advisor for the Central Bank of Bahrain where he had numerous Islamic banking responsibilities. Subsequently, Brian taught courses on Islamic banking and finance at a range of financial institutions including the World Bank, National Commercial Bank (Saudi Arabia), Global Investment House (Kuwait), Noor Islamic Bank (UAE), the UK Treasury, the Central Bank of Iran, the Central Bank of Syria, the Securities Investment Institute, the Institute for Financial Services and Scotland Yard. Brian’s vast academic expertise in Islamic finance is highlighted by his role as Joint Editor of the Islamic Finance Qualification Handbook and his past teaching work at a number of top universities worldwide including the London School of Economics, the City University of Hong Kong and London Metropolitan University Business School.

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