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Author: MONZER KAHF
Publisher: Al Manhal
ISBN:
Category : Business & Economics
Languages : en
Pages : 508
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Book Description
This book deals with an old subject, Islamic Finance contracts. Yet, it is very new and unique in its approach, ideas and arguments. The book classifies Islamic finance contracts in three categories; the first category consists of seven classical finance contracts whose details are given in the classical writings of Islamic jurisprudence (Fiqh), although in no other Fiqh publication these contracts are depicted and distinguished as specifically financing contracts. The second category consists of what I call traditional hybrid Islamic contracts which came about as a result of the 1970s startup stage of Islamic banking and the search of Shariah compliant contracts which fit a process of financial intermediation. The third category consists of Islamic finance contracts which came about during the takeoff and open expansion stage of Islamic banking especially in the first decade of the new millennium. The uniqueness of the book comes from its approach of blending the legal description, conditions and requirements of each Islamic Finance contract with the economic and financial circumstances within which the contract fits and also from the emphasis on the financial consequences of each of the Islamic finance contracts. The book is also unique in bringing about comparison with contracts used in the conventional Western style finance transactions. It is an attempt of formulating the main elements of a general theory of Islamic finance which is internally coherent and also consistent with other components of Islamic economics. Descriptor(s): ISLAMIC ECONOMICS | FINANCING | CONTRACTS | TRANSACTIONS (ISLAMIC JURISPRUDENCE) | SILENT PARTNERSHIP | OWNERSHIP | INVESTMENTS | PROFITS | ISLAMIC BANKS
Author: MONZER KAHF
Publisher: Al Manhal
ISBN:
Category : Business & Economics
Languages : en
Pages : 508
Get Book Here
Book Description
This book deals with an old subject, Islamic Finance contracts. Yet, it is very new and unique in its approach, ideas and arguments. The book classifies Islamic finance contracts in three categories; the first category consists of seven classical finance contracts whose details are given in the classical writings of Islamic jurisprudence (Fiqh), although in no other Fiqh publication these contracts are depicted and distinguished as specifically financing contracts. The second category consists of what I call traditional hybrid Islamic contracts which came about as a result of the 1970s startup stage of Islamic banking and the search of Shariah compliant contracts which fit a process of financial intermediation. The third category consists of Islamic finance contracts which came about during the takeoff and open expansion stage of Islamic banking especially in the first decade of the new millennium. The uniqueness of the book comes from its approach of blending the legal description, conditions and requirements of each Islamic Finance contract with the economic and financial circumstances within which the contract fits and also from the emphasis on the financial consequences of each of the Islamic finance contracts. The book is also unique in bringing about comparison with contracts used in the conventional Western style finance transactions. It is an attempt of formulating the main elements of a general theory of Islamic finance which is internally coherent and also consistent with other components of Islamic economics. Descriptor(s): ISLAMIC ECONOMICS | FINANCING | CONTRACTS | TRANSACTIONS (ISLAMIC JURISPRUDENCE) | SILENT PARTNERSHIP | OWNERSHIP | INVESTMENTS | PROFITS | ISLAMIC BANKS
Author: Hussein Kureshi
Publisher: John Wiley & Sons
ISBN: 1119020581
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
A very accessible and concise guide to Islamic finance Contracts and Deals in Islamic Finance provides a clear breakdown of Islamic financial contracts and deal structures for beginners. The embedded requirements within selected Islamic financial contracts, such as risk weightage, capital structures, creations of cash flows, and balance sheets, are explained fully to provide a solid understanding of the backbone of the industry. Aimed primarily at beginners and those with a background in conventional banking, this book guides readers through the major contracts, how they're applied, and how to discern a contract's legitimacy. Case studies and interviews with bankers and global regulators provide real-life examples of contract application, and the author's own experiences provide deep insight into the everyday issues that arise. Ancillary instructor's materials include PowerPoint slides and lecture notes that facilitate use in the classroom. Literature describing the application of Islamic financial contracts is few and far between, and those providing a basic breakdown of these contracts and questioning their validity are rarer still. This book is the first of its kind, offering a basic approach to understanding Islamic contracts, designed for the true beginner. Understand the current contracts applied in Islamic banking Learn how contracts are applied across different jurisdictions Identify illegitimate contracts and those not in the spirit of Shariah law Examine the current economic realities surrounding Islamic finance By highlighting the underlying themes in Islamic finance and assessing the current practices, this book gives readers the solid understanding and up-to-date perspective that form a solid foundation upon which successful Islamic finance is practiced. For a solid introduction to the Islamic finance industry, Contracts and Deals in Islamic Finance is an accessible, practical guide.
Author: Dena H. Elkhatib
Publisher: American Bar Association
ISBN: 9781614386193
Category : Contracts (Islamic law)
Languages : en
Pages : 0
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Book Description
This guide provides you with the basic knowledge you need to draft an Islamic Finance contract and outlines what you need to do before you begin. The guide includes valuable advice on understanding what Islamic Finance is and what sources are relied upon and its place in the current global financial markets; deciphering the important elements in any Islamic contract; discussion of the various types of Islamic contracts and how the contracts are structured; and much more!
Author: Hussain Mohi-ud-Din Qadri
Publisher: Routledge
ISBN: 1000406369
Category : Business & Economics
Languages : en
Pages : 214
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Book Description
Islam encourages business and financial transactions as a way of securing the basic needs for all human beings, but these need to be conducted in accordance with the principles contained in the Qur’ān and Sunnah. However, these legal concepts are not classified subject-wise, and the verses on commercial law, like all other topics, are scattered throughout the Qur’ān, making it difficult for readers to gain a full understanding of the topic. This, therefore, is the first comprehensive book to demystify Islamic contract law and specifically Islamic financial contracts, and to examine its roots and history. The book is written in a clear style to allow for a greater understanding of the more challenging and misunderstood areas pertaining to Islamic business and financial contracts. It also contributes a series of chapters which address the market niche and need, concerning Shariah compliance for Islamic financial products and services. The book is divided into 16 chapters in order to provide a holistic and thorough overview of Islamic law of contract. It covers the objections and misconceptions surrounding Islamic business and financial contracts. It also includes the key features and guiding principles of Islamic law of contract and offers technical know-how, illustrating the concept of formation of a contract, as well as the essential elements of a valid contract. The authors also offer a discussion on the system of options under Islamic business and financial contracts and potential solutions to breach of contracts. The book will serve as a handy reference for scholars and students of Islamic business and finance and Islamic commercial law and will also be beneficial for practitioners as well as legal and judicial officers. It will open new doors for further research in the field of Islamic financial contracts.
Author: Syeda Fahmida Habib
Publisher: John Wiley & Sons
ISBN: 1119371007
Category : Business & Economics
Languages : en
Pages : 327
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Book Description
A comprehensive and fully up-to-date introductory textbook to Islamic finance and banking Islamic finance and banking is being used increasingly globally — especially in the regions of Middle East and North Africa, South East and South Asia. To cater to the need of trained Islamic finance staff, a large number of Educational institutions are beginning to offer courses, majors and minors in Islamic finance and banking. The major challenge faced by these institutions are suitable textbooks for both undergrad and post-grad levels and especially with the relevant instructor resources (PPTs, test bank, practice activities and answer keys). Luckily, Fundamentals of Islamic Finance and Banking is here to cover the most important topics related to Islamic finance and banking (IF&B) that are relevant for students of business, finance and banking. Offers an historical background of Islamic finance Covers the principles of Sharia Law as pertinent to finance and banking Provides in-depth discussion of the six key Islamic banking products: Murabaha, Mudaraba, Musharaka, Ijara, Salam and Istisna Discusses the Islamic insurance (Takaful) Gives an overview of Islamic investment, especially Sukuks Concludes with the global standing of the Islamic Finance and Banking industry Would-be colleges and universities offering this subject as a course within their finance and/or banking program can’t be without this invaluable guide.
Author: Kabir Hassan
Publisher: Edward Elgar Publishing
ISBN: 9781847205414
Category : Business & Economics
Languages : en
Pages : 472
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Book Description
The Handbook of Islamic Banking comprises 25 studies by leading international experts on Islamic banking and finance specially commissioned to analyse the various debates and the current state of play in the field. From its origins thirty years ago, Islamic banking has expanded rapidly to become a distinctive and fast growing segment of the international banking and capital markets. Despite this expansion, Islamic banking still remains poorly understood in many parts of the Muslim world and continues to be a mystery in much of the West. This comprehensive Handbook provides a succinct analysis of the workings of Islamic banking and finance, accessible to a wide range of readers. At the same time, it seeks to bring the current research agenda and the main issues on Islamic banking before a wider audience. Islamic banking offers, as an alternative to conventional interest-based financing methods, a wide variety of financial instruments and investment vehicles based on profit-and-loss sharing arrangements. These are all explored in detail along with other subjects such as governance and risk management, securities and investment, structured financing, accounting and regulation, economic development and globalization. M. Kabir Hassan, Mervyn Lewis and the other contributors have created an authoritative and original reference work, which will contribute to a wider understanding of Islamic banking as well as provoking further discussion and research. It will be invaluable to all scholars, researchers and policymakers with an interest in this subject.
Author: Syed Adam Alhabshi
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3110559749
Category : Business & Economics
Languages : en
Pages : 177
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Book Description
Risk-sharing investment is currently the buzz word in Islamic finance. However, there is an incongruence in applying multilayered and opaque Tijarah contracts for investment purposes. This has contributed to the divergence between Shariah and Common Law and caused tremendous problems and systemic legal risks to Islamic finance. The authors of Shariah Investment Agreement introduce a legal tool in the form of a Shariah Investment Agreement carefully drafted to ensure that it is Shariah-compliant and can be applied in Common Law jurisdictions as well, so as to allow for the execution of risk-sharing investment in Islamic finance. It details the building blocks and key considerations that must be noted when drafting such agreements so the investor and investee will know what to expect when entering into such a contract. Proper implementation of the Shariah Investment Agreement will pave a clear route to a harmonious convergence between Shariah and Common Law and lead to Islamic finance developing further to become a stronger, unstoppable force in the finance industry.
Author: David Eisenberg
Publisher: OUP Oxford
ISBN: 0191630896
Category : Law
Languages : en
Pages : 470
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Book Description
This work is a practical and commercial guide to the fundamental principles of Islamic finance and their application to Islamic finance transactions. Islamic finance is a rapidly expanding, global industry and this book is designed to provide a practical treatment of the subject. It includes discussion and analysis of the negotiation and structure involved in Islamic finance transactions, with relevant case studies, structure diagrams and precedent material supporting the commentary throughout. An introductory section describes the theoretical background and explains the principles (and their sources) of Islamic law which underpin Islamic finance practices, providing an important backdrop to the work as a whole. The work also considers the role of Shariah supervisory boards, Islamic financial institutions and the relevance of accounting approaches. The work adopts an international perspective to reflect the pan-global nature of the industry and accepted practices, with the aim to bring together different schools of thought applied in international Islamic finance transactions. It also highlights any regional differences in accepted practice by reviewing the position in the Gulf states, Asia, the UK and Europe and the USA. The second part of the book concentrates on Islamic financial law in practice and begins with a section on financial techniques. This section explains the basic requirements for Islamic finance contracts both in terms of the underlying asset types and also both the applicability and acceptability of the underlying asset. There is a full discussion of the various types of contractual models such as Mudaraba (trustee finance), Musharaka (partnership or joint venture), Murabaha (sale of goods), and Sukuk (participation securities: coupons etc). The nascent area of Takaful (insurance) is also covered as are matters specific to the important field of project and asset finance.
Author: James Simon Watkins
Publisher: Springer Nature
ISBN: 3030598403
Category : Business & Economics
Languages : en
Pages : 533
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Book Description
This book examines whether Islamic finance and Islamic economics is challenging the orthodoxy of the money markets. Can ethical finance combined with the prohibition on interest and speculation really work in the global economy? With a political economy approach, the book explores how the industry has grown in modern times – from a short-lived bank in an Egyptian city in the 1960s through to a global industry that is today valued at US$2.05 trillion. From the revelation as articulated by the Prophet Muhammed in the seventh century through to the gleaming 21st century skyscrapers of Dubai and Kuala Lumpur, the book covers the end of European colonialism, the controversial utterances of self-styled religious leaders, the impact of Islamophobia, and the efforts to end poverty through Islamic microfinance. The book uncovers an industry that is both profitable and changing the face of contemporary capitalism.
Author: Muhammad Al-Bashir
Publisher: BRILL
ISBN: 9004152466
Category : Religion
Languages : en
Pages : 361
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Book Description
This study addresses derivatives instruments in Islamic finance. It highlights the benefits of these instruments, their legal aspects and the appropriate alternatives. The forward, futures and options contracts in commodity markets are discussed and the arguments in favour of and against these instruments examined. The forward contracts issue includes the possibility of trading gold in forward basis, the forward market for currencies and the possible alternative to manage related risks. With the examination of futures contracts, the main arguments against such a contract are addressed, for example the sale prior to taking possession and the sale of debt hedging and speculation. The study proposes "khiyar al-shart" and "bay al-arbun" as tools of risk management and alternatives to options. The sale of pure rights is at the center of the admissibility of options in Islamic law and is investigated comprehensively.
