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An Introduction to Islamic Banking and Finance


An Introduction to Islamic Banking and Finance

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    Available in PDF Format | An Introduction to Islamic Banking and Finance.pdf | Unknown
    Abdel Fattah M. Farah
This text is a result of more than six years experience of teaching Islamic Banking and Finance as an adjunct faculty at Preston University, Ajman and at the Emirates Institute of Banking Financial Studies, Sharjah. This text was designed to accommodate the needs of students who do not possess a basic knowledge in Economics, Business and/or in Business Values of Islam. Student demand for the course increased and subsequently many intensive courses were designed for the uninitiated and professionals in the field. The attempt of this book is to promote awareness and discuss relevant principles and guidelines of Islamic Business, Banking, Economics, Ethics, and Finance contributing to a contemporary system of Islamic Banking and Finance. In order to solve contemporary problems Islamically way, the ideas of previous scholars are to be considered and put into practice together with new experiences to fulfill the criteria of Islam and to introduce an ethical system that can work more efficiantly in an international environment. By linking between the realistic needs of human beings and Islamic value system, positive contributions to reduction of poverty, fair and just distribution of income, ethical cooperation between nations and a just economic welfare system could be established. Islamic banks started in 1975 with the establishment of Dubai Islamic Bank. It was the first Islamic commercial bank in the world begun with a capital of AED 50 millions which was increased to AED 2 billions in 2007. The number of Islamic banks scattered around the globe has reached more than 200 with a capital of around 480 billions in 2008. All relevant economic, banking, financial and Islamic concepts introduced in this book are clearly presented in an easily understandable way. Ideas of many Islamic schools of thought are presented in such a way that enables the student to apply them to various Islamic rules which he/she studied in chapter one. Accordingly a person can make selective rational choices between different alternative concepts in a balanced manner. The book is comprised of three chapters. The first chapter Basic Economic and Business values of Islam introduces basic Islamic analytical skills related to Islamic Banking and Finance. It gives an important background which is crucial for financial /research professionals/specialists as well as for beginners. The second chapter Islam, Economics and Banking introduces the main economic and banking concepts related to Islamic banking and finance. Together the two introductory chapters provide the students coming from other disciplines with a basic knowledge of Islamic concepts, Economics and Banking and this enhances students understanding of Chapter 3 : Islamic Banking and Finance . The book contains a lot of Arabic terminology which is explained in the glossary at the end of the book. From an Islamic perspective, exact translation of Quranic verses is impossible. Therefore, the translations mentioned in this book are the closest interpretations of the intended meanings. Additionally I have selectively choosen from various translations to convey the meaning I intended from an Economic perspective. Examples and relevant questions are provided to enable students linkage of the Islamic concepts with the applied banking practices.  
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Printable? Yes

Book details

  • PDF | 172 pages
  • Abdel Fattah M. Farah
  • Ajman Chamber of Commerce and Industry
  • Unknown
  • 10
  • Other
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