Introduction to Islamic Banking and Finance - Softcover

Kettell, Brian

Softcover

ISBN 10: 0955835100 ISBN 13: 9780955835100

Publisher: Harriman House, 2008

Synopsis

Introduction to Islamic Banking and Finance is a succinct guide to the key characteristics of Islamic banking highlighting how these differ from conventional banking. This detailed book illustrates how Islamic banking is consistent with the Sharia'a, a key element of which is the prohibition on collecting and paying interest. This central religious precept appears to rule out most aspects of modern finance but it does allow money to be used for trading tangible assets and business, which can then generate a profit. Brian Kettell's book looks at all aspects of Islamic banking, including chapters on its creation and evolution through to detailed discussions of the issues involved in the Sharia'a contracts of Murabaha, Mudaraba, Musharaka, Ijara, Istisna'a, and Salam. Islamic insurance (Takaful) is also covered. Finally the book takes a look at Sharia'a law and Sharia'a boards, indicating the roles and responsibilities that come with membership.

Islamic banks have been operating in places such as Bahrain, Saudi Arabia, Malaysia and Dubai for some time. Conventional bankers have traditionally viewed the sector as a small, exotic niche but recent years have seen a dramatic surge in popularity. A number of Western investment banks have started working with Muslim clerics to create new ranges of financial products designed for devout Muslims, a large and growing market. Although estimates of the size of the Islamic finance industry vary greatly, everyone agrees that it is expanding rapidly and this is the perfect book for anyone looking to understand the industry.

About this title

From the Inside Flap:

"This book is direct and concise, with the result that readers will easily comprehend the whys and wherefores of this somewhat different, challenging, and ultimately rewarding approach to finance."
—Shaykh Yusuf Talal De Lorenzo, Chief Sharia'a Officer and Board Member at Sharia'ah Capital and Member of the AAOIFI Sharia'a Board

"A valuable resource for all those who wish to be initiated into the emerging domain of Islamic Banking and Finance."
—Adnan Ahmed Yousif, President and Chief Executive, Al Baraka Banking Group, Bahrain

"An invaluable book for those seeking to know more about Islamic banking. Comprehensive and detailed, the book is an excellent first-read for banking professionals and others to understand where Islamic banking comes from, what philosophies underlie it and the major components of Sharia'a compliant banking and finance."
—Joseph DiVanna, Managing Director, Maris Strategies Limited

About the Author:

Brian Kettell has a wealth of practical experience in the area of Islamic banking and finance. He worked for several years as an Advisor for the Central Bank of Bahrain where he had numerous Islamic banking responsibilities.
Subsequently, Brian taught courses on Islamic banking and finance at a range of financial institutions including the World Bank, National Commercial Bank (Saudi Arabia), Global Investment House (Kuwait), Noor Islamic Bank (UAE), the UK Treasury, the Central Bank of Iran, the Central Bank of Syria, the Chartered Institute for Securities and Investment, the Institute for Financial Services and Scotland Yard.
Brian's vast academic expertise in Islamic finance is highlighted by his role as former Joint Editor of the Islamic Finance Qualification Handbook and his past teaching work at a number of top universities worldwide including the London School of Economics, the City University of Hong Kong, the American University of the Middle East in Kuwait and London Metropolitan University Business School.
Brian's impressive list of publications include over 100 articles in journals, business magazines and the financial press including Islamic Business and Finance, Islamic Banking and Finance, the Central Banking Journal, Euromoney, the Securities Journal and the International Currency Review. He has also published 6 books on Islamic banking and financial markets.

About this edition

• Publisher: Harriman House
• Publication date: 2008
• ISBN 10: 0955835100
• ISBN 13: 9780955835100
• Binding: Paperback
• Edition number: 1
• Number of pages: 100