9781137515650

Islamic Banks and Financial Institutions A Study of their Objectives and Achievements

by
  • ISBN13:

    9781137515650

  • ISBN10:

    1137515651

  • Format: Hardcover
  • Copyright: 2015-11-30
  • Publisher: Palgrave Pivot

Note: Supplemental materials are not guaranteed with Rental or Used book purchases.

Purchase Benefits

  • Free Shipping On Orders Over $35!
    Your order must be $35 or more to qualify for free economy shipping. Bulk sales, PO's, Marketplace items, eBooks and apparel do not qualify for this offer.
  • Get Rewarded for Ordering Your Textbooks! Enroll Now
List Price: $119.00 Save up to $11.90
  • Rent Book $107.10
    Add to Cart Free Shipping

    TERM
    PRICE
    DUE

Supplemental Materials

What is included with this book?

  • The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.
  • The Rental copy of this book is not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

Summary

Recent growth in the Islamic Finance sector has been reflected in changes to economic policy and law in countries across the globe. Innumerable historical, theological, commercial, legal, institutional and macro-economic factors affect this unique field, as well as the continually evolving environments in which it functions.


This book addresses the objectives of Islamic Finance in the modern banking space to address the question: how compatible are these objectives with the achievements of Islamic banks and Financial Institutions? It presents an empirical analysis of recent stakeholder data from Malaysia and the United Arab Emirates to reveal the roles and perspectives of customers, Shariah advisors, bank employees and regulatory authorities. The author offers insight into the effects of changes and developments occurring in Islamic banking products and services like Musharakah, Mudarabah, Ijara, Sukuk, Takaful, Istisna and Salam, and explores the operating structures and subsidiaries of Islamic banks.


As well as providing a clear overview of the growth of Islamic Finance over the last 200 years, this book provides suggestions for the development of Islamic Finance on both a micro and macro level.

Author Biography

Dr. Fayaz Ahmad Lone is Assistant Professor at the College of Business Administration in Salman Bin Abdulaziz University, Al-Kharj, Saudi Arabia. Dr. Fayaz Ahmad obtained a PhD in Islamic Finance from Aligarh Muslim University, India, and a Master's Degree from the University of Kashmir, India. He has published more than a dozen research papers on Islamic finance in International and National Journals and has presented a large number of papers at international conferences.

Table of Contents

PART I: ISLAMIC FINANCE: AN INTRODUCTION
1.1. Islamic Finance
1.2. Conventional Financial System Vs Islamic Financial System
1.3. Islamic Banks Vs Conventional Banks
1.4. Components of Islamic Finance
1.4.1. Banks
1.4.1.1. Investment and Investment Management
1.4.1.2. General Banking Services
1.4.1.3. Social Services
1.4.2. Equity and Capital Market
1.4.3. Takaful
1.4.4. Waqf and Zakat
1.5. Operating Structure of Islamic Banks
1.5.1. Window Model
1.5.2. Branches
1.5.3. Subsidiaries
1.5.4. Full-Fledged Banks
1.6. Products and Services of Islamic Finance
1.6.1. Murabahah (Cost Plus Financing)
1.6.2. Mudarabah (Sleeping Partnership)
1.6.3. Musharakah (Partnership Financing)
1.6.4. Ijara (Leasing)
1.6.5. Salam
1.6.6. Takaful (Insurance)
1.6.7. Sukak (Bond)
1.7. Why Islamic Finance is Growing
1.7.1. Fast and Steady Growth
1.7.2. Green Financing Platform
1.7.3. Syariah-Compliant Products
1.7.4. Attracts Even Non-Muslim Investors
1.7.5. Global Indexing
1.7.6. Oil-Wealthy GCC Adopting Islamic Finance
1.7.7. Streamlined and Simpler
1.7.8. No Crisis' Zone
1.7.9. Shared Responsibility
1.7.10. Thoughtful Decision-Making
1.8. Modes of Operation
1.8.1. Consumer and Business Loans
1.8.2. Bank Deposits and Fixed Income Securities
1.8.3. Fee-based Services
1.8.4. Investment Vehicle Alternatives
1.8.5. Corporate and Government Bonds
1.8.6. Insurance
PART II: HISTORICAL DEVELOPMENT AND RESEARCH DESIGN
2.1. History of Islamic Finance
2.2. Current Islamic Finance Market
2.3. Islamic Finance in Saudi Arabia
2.4. Statement of the Problem
2.5. Literature Review
2.6. Research Gap
2.7. Objectives of the Study
2.8. Hypotheses of the Study
2.9. Research Process
2.10. Research Questions
2.11. Research Methodology
2.12. Plan of the Research
2.13. Limitations of the Research
2.14. Scope for Further Research
PART III: ISLAMIC FINANCE - AN OVERVIEW
3.1. Background
3.2. Sources of Islamic/Divine Law
3.2.1. The Qur'an
3.2.2. The Sunnah
3.2.3. Ijma
3.2.4. Qiyas
3.2.5. Ijtehaad
3.3. Interest
3.4. Prohibition of Riba (interest)
3.4.1. Prohibition of Riba in Qur'an
3.4.2. Prohibition of Riba in Hadith
3.5. Meaning of Riba (usuary)
3.6. Types of Riba
3.6.1. Riba Al-Nasi'ah
3.6.2. Riba Al-Fadl
3.7. Development of Islamic Finance
3.8. Islamic Finance in Malaysia
3.9. Islamic Finance in United Arab Emirates
3.10. Challenges of Islamic Finance
PART IV: OBJECTIVES OF ISLAMIC FINANCE
4.1. Introduction
4.2. Islamic Shariah and its Objectives
4.3. Sources of Shariah Tenets
4.4. Objectives (Maqasid) of Shariah
4.5. Types of Islamic Finance Objectives
4.5.1. Islamic Objectives
4.5.2. Economic Objectives
4.5.3. Social Objectives
4.5.4. Ethical Objectives
PART V: OBJECTIVES AND ACHIEVEMENTS OF ISLAMIC FINANCE: AN ANALYSIS
5.1. Universe
5.2. Sample
5.3. Questionnaire
5.4. Sampling Plan
5.5. Stakeholders
5.5.1. Customers
5.5.2. Employees of Islamic Banks
5.5.3. Shariah Advisors
5.5.4. Regulatory Officers
5.5.5. Others
5.6. Sampling Size
5.7. Gender Profile of Respondents
5.8. Religious Profile of Respondents
5.9. Age Profile of Respondents
5.10. Country Profile of Respondents
5.11. Reliability of Data
5.12. Validity
5.13. Factor Analysis
Hypothesis Testing
PART VI: COMPATIBILITY BETWEEN OBJECTIVES AND ACHIEVEMENTS
6.1. Achievements
6.2. Conclusion
6.3. Suggestions for Development of Islamic Finance
Bibliography
Annexure I Questionnaire
Annexure II Islamic Finance Institutions
Annexure III Glossary of Islamic Finance
index

Rewards Program

Write a Review