Introductory Mathematics and Statistics for Islamic Finance, + Website

Preface

The objective of this book is to provide an introductory and unified training in mathematics and statistics for students in Islamic finance. Students enrolled in Islamic finance programs may have had different training in mathematical and statistical methods. Some students may have advanced training in some mathematical or statistical topics; however, they may not have been sufficiently exposed to some topics that are highly relevant in Islamic finance or to the applications of quantitative methods in this field. Other students may have had less advanced quantitative training. It will be therefore necessary to provide a homogenous quantitative training in mathematics and statistics for students, with a view to enhancing their command of the theory and practice of Islamic finance.

In view of the nature of Islamic finance, students or professionals should acquire adequate skills in computational mathematics and statistics in order to accomplish their duties in any financial or nonfinancial institutions where they might be employed. Without computational skills, students or professionals may not be able to manipulate economic and financial data; they may not meet the challenges of their financial career. In fact, the finance industry has reached an extremely advanced stage in terms of the quantitative methods, computerization, product innovations, and arbitrage and trading programs that are used. Many institutions such as hedge funds, pension funds, investment corporations, ...