Modern Islamic Banking: Products and Processes in Practice (The Wiley Finance Series) - Hardcover

Schoon, Natalie

Hardcover

ISBN 10: 1119127203 ISBN 13: 9781119127208

Publisher: Wiley, 2016

Synopsis

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.

About this title

From the Inside Flap:

Islamic banking practices differ from Western banking in fundamental ways—it's these differences that have, to some extent, 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 their modern practical applications.

Islamic banks and financial products are a viable alternative to conventional banking, which is viewed as speculative. They are experiencing real growth and are attracting new clients as well as clients of conventional banks looking for other types of finance. Written by a pioneering author on the frontlines of the Islamic banking system's global expansion, this one-of-a-kind guide takes a hard look at the continuing evolution of Islamic banking and its place in the world economy. From the key foundational principles to the products and unique risks of today's Islamic banking structure, the author's forward-thinking and eminently practical perspective will be valuable to practitioners and students alike. The book includes all the fundamentals, vocabulary, key concepts and cornerstone products of Islamic banking and then enables you to:

• Use an accurate, post-financial crisis valuation model for Islamic banks that accounts for sustainable growth and risk
• Understand how Islamic financial products are used in retail finance, treasury, corporate finance, private equity and asset management, including niche areas of micro, agriculture and cooperative finance
• Navigate the main categories of transaction types, including partnership contracts, instruments with predictable returns, other instruments and bond- like instruments
• Be fluent in the regulatory issues affecting Islamic banking, including the role of the Sharia'a Supervisory Board

Everyone at every level of the banking and financial services industries involved in or interacting with the Islamic financial landscape will benefit from a clear understanding of why profit and loss sharing, justness in exchange, transparency and the prohibition of usury—the ethical principles of Islamic financial services—are attracting more non-Muslim investors than ever before.

Modern Islamic Banking: Products, Processes in Practice is your one-stop resource to all the nuances of Islamic banking, as well as what makes it so similar to conventional banking.

From the Back Cover:

A Complete, Detailed Guide to Modern Islamic Banking Fundamentals

Modern Islamic Banking provides a comprehensive, up-to-the-minute guide to the products, processes and legal doctrines underlying the expanding Islamic banking system.

The conventional financial system focuses primarily on the economic and financial aspects of transactions, whereas the Islamic system places equal importance on the ethical, moral, social and religious characteristics to enhance equality and fairness. This authoritative guide fully clarifies the ins and outs of this emergent form of ethical investing and lending, where loans must be interest-free. In just thirty years, Islamic banking has gone from purely local operations to an alternative finance system of products and services for the international community, and after successfully weathering the banking crisis as a result of its unconventional paradigm, more non-Muslim investors are seeking its products to gain a competitive edge. In an engaging, conversational style, this streamlined resource quickly brings you up to speed on Islamic banking by guiding through:

• The long-standing principles of Islamic banking and finance grounded in the profit and loss sharing principles outlined in the Code of Hammurabi
• The products, vocabulary and key concepts of the field, including profit and loss sharing, justness in exchange, transparency and the prohibition of usury
• The applications in such financial contexts as asset management, treasury, risk management, venture capital, SME finance, micro-finance and taxation
• The regulatory frameworks and valuation of Islamic banks, including the vital components of a good valuation model and how to use one to place a reasonable value on a firm as well as a bank

For everything you need to know and how it applies to your current practices, turn to Modern Islamic Banking.

About this edition

• Publisher: Wiley
• Publication date: 2016
• ISBN 10: 1119127203
• ISBN 13: 9781119127208
• Binding: Hardcover
• Edition number: 1
• Number of pages: 192