The Essentials of Islamic Banking, Finance, and Capital Markets

This book provides an comprehensive overview of Islamic finance, exploring its economic, financial, and legal systems, insurance (takaful), commercial jurisprudence, and the socio-political and political-economy of the Islamic world. It examines the dichotomies and similarities between Islamic and conventional financial systems and suggests future roles and governance of Islamic financial institutions. The second edition emphasizes theoretical foundations, distinguishes between micro- and macroeconomic concepts, and discusses recent developments in Islamic capital markets. It serves as a valuable textbook for graduate and advanced undergraduate students and a guide for financial practitioners interested in learning more about Islamic finance.

Format: Hardback
Length: 374 pages
Publication date: 08 August 2022
Publisher: Lexington Books

This comprehensive book on Islamic finance delves into Islamic economic, financial, and legal systems, insurance (takaful), commercial jurisprudence, and the socio-political and political-economy of the Islamic world. It explores the dichotomies and similarities between Islamic and conventional financial systems, suggesting future roles and governance of Islamic financial institutions. The second edition of this work emphasizes the theoretical foundations of Islamic finance, distinguishes between micro- and macroeconomic concepts and theories, and expands on Islamic approved forms of trade dealings, transactions, and contracts. Furthermore, it discusses the newly introduced Islamic capital market products of the years 2020 to 2022, including the transition from the inter-bank-offer-rates (IBORs) as the global benchmark lending rate to the new risk-free-rates (RFRs) that became effective on January 1, 2022. While avoiding tedious mathematical proof and derivatives, this work provides working calculations for the pricing of Islamic instruments and offers supplemental materials in the form of faculty resources, students' study guide, and workbook. Serving as a valuable textbook for graduate and advanced undergraduate students seeking to broaden their finance knowledge, this book also serves as a helpful guide and tool for financial practitioners interested in exploring the innovative discipline of Islamic finance. To maximize the benefits of this innovative financing mechanism, financial practitioners must possess a thorough understanding, engage in active participation, and actively contribute to the investment process.

Weight: 680g
Dimension: 238 x 157 x 27 (mm)
ISBN-13: 9781666901030
Edition number: 2nd Edition