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Modern Islamic Banking

Book Description

A complete, detailed guide to modern Islamic banking fundamentals

Modern Islamic Bankingprovides a comprehensive, up-to-the-minute guide to the products, processes and legal doctrines underlying Islamic banking. Written by a pioneering practitioner in the field, this book provides thorough guidance and expert-level perspective on the principles and applications of this alternative-banking model. You'll begin by learning the fundamentals, vocabulary and key concepts of Islamic banking, then explore key products including istisna'a, murabaha, musharaka, ijara, sukuk, and salam. Coverage then moves into practical applications of Islamic products to a variety of contexts including asset management, treasury, risk management, venture capital, SME finance, micro-finance and taxation. Regulatory frameworks are discussed in detail, including extensive coverage of post-financial crisis Islamic bank valuation.

Islamic banking has experienced rapid growth over the past decade, a trend that is set to continue given the sector's successful weathering of the financial crisis. This book brings you up to speed on this alternative way of banking, and shows you how it applies within your own current practices.

  • Understand the principles of Islamic banking and finance
  • Learn the products, vocabulary and key concepts of the field
  • Consider the applications in a variety of financial contexts
  • Explore the regulatory frameworks and valuation of Islamic banks

Islamic banking practices differ from Western banking in fundamental ways — it's these differences that shielded the sector during the global crisis, but they also require practitioners to understand a whole new set of rules, products and practices. Modern Islamic Banking gives you a solid understanding of the fundamentals and expert insight into modern practical applications.

Table of Contents

  1. Series Page
  2. Title Page
  3. Copyright
  4. Dedication
  5. List of Figures
  6. List of Tables
  7. Acknowledgements
  8. About the Author
  9. Introduction
  10. Chapter 1: Historical Developments
    1. 1.1 The History of Finance
    2. 1.2 The History of Islamic Finance
  11. Chapter 2: Economic Principles
    1. 2.1 Early Economic Thought
    2. 2.2 The Prohibition of Interest
    3. 2.3 Modern Economics and Banking
    4. 2.4 Islamic Ethics
    5. 2.5 Contracts and Prohibitions
    6. 2.6 Sharia'a and Prohibitions
  12. Chapter 3: Islamic Finance Products Explained
    1. 3.1 Definitions
    2. 3.2 The Asset
    3. 3.3 Transaction Types
    4. 3.4 Bond-Like Instruments
  13. Chapter 4: Distribution of Islamic Products
    1. 4.1 Distribution Channels and Sharia'a Compliance
    2. 4.2 Sharia'a Compliant versus Sharia'a Based
    3. 4.3 Competition or Opportunity
  14. Chapter 5: Application of Islamic Products in Retail Finance
    1. 5.1 Current Accounts
    2. 5.2 Credit Cards
    3. 5.3 Deposit Accounts
    4. 5.4 Funds
    5. 5.5 Mortgage Products
    6. 5.6 Personal Loans
    7. 5.7 Transfers
  15. Chapter 6: Application of Islamic Products in Treasury
    1. 6.1 Interbank Liquidity
    2. 6.2 Hedging
    3. 6.3 Combination of Transaction Types
    4. 6.4 Asset-Based Securities
    5. 6.5 Syndication
  16. Chapter 7: Application of Islamic Products in Corporate Finance
    1. 7.1 Trade Finance
    2. 7.2 Project Finance
    3. 7.3 Property Finance
    4. 7.4 Leasing
  17. Chapter 8: Application of Islamic Products to Private Equity
  18. Chapter 9: The Role of the London Metal Exchange
    1. 9.1 The London Metal Exchange
    2. 9.2 Warrants
    3. 9.3 LME Base Metals
  19. Chapter 10: Asset Management
    1. 10.1 Selection of Sharia'a Compliant Investments
    2. 10.2 Types of Funds
  20. Chapter 11: Risks in Islamic Banks
  21. Chapter 12: Governance
    1. 12.1 Roles
    2. 12.2 Social Responsibilities
    3. 12.3 Structures and Variations of Sharia’a Supervisory Boards
    4. 12.4 Serving on Multiple Boards
  22. Chapter 13: The Islamic Financial Infrastructure
    1. 13.1 Regulatory Institutions
    2. 13.2 Socially Responsible Investments and Micro-finance
    3. 13.3 The Case for LIBOR
  23. Chapter 14: Capital Adequacy Concerns
    1. 14.1 Challenges within the Basel Capital Adequacy Framework
    2. 14.2 IFSB Capital Adequacy Standards
    3. 14.3 Capital Adequacy for Islamic Banks around the World
    4. 14.4 Expected Future Developments in Capital Adequacy
  24. Chapter 15: How to Value a Bank
    1. 15.1 The Components
    2. 15.2 The Models
    3. 15.3 The Special Case of Banks
    4. 15.4 The Special Case of Islamic Banks
    5. 15.5 Can a Bank be Valued?
  25. Chapter 16: The Future
  26. Glossary
  27. Select Bibliography
  28. Index
  29. End User License Agreement