Description
“The Islamic finance industry is worth about $800bn globally and is growing at an annual rate of 10 to 15 per cent. The sector’s dramatic growth since 2000, when it was worth $150bn, and profusion of investment products has been fuelled by an increasing desire by Muslims for investments that comply with Islamic law. Demand has also been triggered by the big increase in wealth in the Gulf, where growth has doubled since 2002 on the back of the soaring oil price.” Financial Times, 30 May 2008
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.
Natalie Schoon
Dr. Natalie Schoon, CFA is head of product development for BLME. She holds a PhD on the valuation of conventional and Islamic banks, and has been working for international financial organisations since the start of her career.
Spiramus Press
We are a UK-based publisher, with an emphasis on tax titles for lawyers, accountants and tax managers. Our books cover both UK and international tax.
