Hardback
Islamic Banking and Finance
New Perspectives on Profit Sharing and Risk
9781840647877 Edward Elgar Publishing
Islamic Banking and Finance discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit-sharing (as opposed to debt-based) contracts are highlighted, and the ways in which they can facilitate improved efficiency and stability of a financial system are explored.
More Information
Contributors
Contents
More Information
It is a well-known fact that conventional commercial banks provide financial intermediation services on the basis of interest rates on assets and liabilities. However, since interest is prohibited in Islam, Islamic banks have developed several other modes through which savings are mobilized and passed on to entrepreneurs, none of which involve interest.
Islamic Banking and Finance discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit-sharing (as opposed to debt-based) contracts are highlighted, and the ways in which they can facilitate improved efficiency and stability of a financial system are explored.
The authors illustrate that in addition to some 200 Islamic banks operating in Muslim as well as non-Muslim countries, some of the biggest multinational banks are now offering Islamic financial products.
This book will fascinate students, researchers and academics with a special interest in comparative banking, middle-eastern studies and international finance, and will also appeal to practitioners of banking and finance.
Islamic Banking and Finance discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit-sharing (as opposed to debt-based) contracts are highlighted, and the ways in which they can facilitate improved efficiency and stability of a financial system are explored.
The authors illustrate that in addition to some 200 Islamic banks operating in Muslim as well as non-Muslim countries, some of the biggest multinational banks are now offering Islamic financial products.
This book will fascinate students, researchers and academics with a special interest in comparative banking, middle-eastern studies and international finance, and will also appeal to practitioners of banking and finance.
Contributors
Contributors: M. Abalkhail, S. Abou-Ali, H. Ahmed, S.I. Al-Suwailem, M.I. Bagsiraj, A.-h. Bashir, M.U. Chapra, M.A. Elgari, F.R. Faridi, S.A. Gusau, S.A. Hallaq, M. Iqbal, Z. Iqbal, A.A. Islahi, M. Kahf, A.A. Karim, A.-F.A.A. Khalil, A. Lahlou, D.T. Llewellyn, M.A. Mannan, V. Murinde, J.R. Presley, C. Rickwood, K. Sadr, J.G. Sessions, M.N. Siddiqi, R. Wilson, A. Yasseri
Contents
Contents:
Preface
Glossary
1 Introduction
Munawar Iqbal and David T. Llewellyn
2 Decision-making under uncertainty: an Islamic perspective
Sami Ibrahim Al-Suwailem
Comments
Monzer Kahf; Mohamed Ali Elgari
3 Incentive-compatible profit-sharing contracts: a theoretical treatment
Habib Ahmed
Comments
Said Al Hallaq
4 Evidence on agency-contractual problems in mu∂arabah financing operations by Islamic banks
Abdel-Fattah A.A. Khalil, Colin Rickwood and Victor Murinde
Comments
Abdel-hameed Bashir
5 Incentive-compatible constraints for Islamic banking: some lessons from Bank Muamalat
Adiwarman A. Karim
Comments
Muhammad Nejatullah Siddiqi
6 How informal risk capital investors manage asymmetric information in profit/loss-sharing contracts
Mohammad Abalkhail and John R. Presley
Comments
Sultan Abou-Ali
7 Choice between debt and equity contracts and asymmetrical information: some empirical evidence
Kazem Sadr and Zamir Iqbal
Comments
Abdul Azim Islahi
8 Islamic banking contracts as enforced in Iran
Ali Yasseri
Comments
Mohamed Ali Elgari
9 Islamic financial institutions of India: their nature, problems and prospects
M.I. Bagsiraj
Comments
Fazlur Rahman Faridi; Sule Ahmed Gusau
10 The interface between Islamic and conventional banking
Rodney Wilson
Comments
Muhammad Abdul Mannan; Abdurrahman Lahlou
11 Alternative visions of international monetary reform
M. Umer Chapra
Comments
John G. Sessions
Index
Preface
Glossary
1 Introduction
Munawar Iqbal and David T. Llewellyn
2 Decision-making under uncertainty: an Islamic perspective
Sami Ibrahim Al-Suwailem
Comments
Monzer Kahf; Mohamed Ali Elgari
3 Incentive-compatible profit-sharing contracts: a theoretical treatment
Habib Ahmed
Comments
Said Al Hallaq
4 Evidence on agency-contractual problems in mu∂arabah financing operations by Islamic banks
Abdel-Fattah A.A. Khalil, Colin Rickwood and Victor Murinde
Comments
Abdel-hameed Bashir
5 Incentive-compatible constraints for Islamic banking: some lessons from Bank Muamalat
Adiwarman A. Karim
Comments
Muhammad Nejatullah Siddiqi
6 How informal risk capital investors manage asymmetric information in profit/loss-sharing contracts
Mohammad Abalkhail and John R. Presley
Comments
Sultan Abou-Ali
7 Choice between debt and equity contracts and asymmetrical information: some empirical evidence
Kazem Sadr and Zamir Iqbal
Comments
Abdul Azim Islahi
8 Islamic banking contracts as enforced in Iran
Ali Yasseri
Comments
Mohamed Ali Elgari
9 Islamic financial institutions of India: their nature, problems and prospects
M.I. Bagsiraj
Comments
Fazlur Rahman Faridi; Sule Ahmed Gusau
10 The interface between Islamic and conventional banking
Rodney Wilson
Comments
Muhammad Abdul Mannan; Abdurrahman Lahlou
11 Alternative visions of international monetary reform
M. Umer Chapra
Comments
John G. Sessions
Index
