A Guide to Islamic Finance - This Concise Report Will Quickly Get You up-to-Speed on a Booming Financial Sector.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c68638) has announced the addition of A Guide to Islamic Finance to their offering. A concise report for senior executives in investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. and structured products to quickly grasp the principles behind Islamic finance and understand how to develop products that would comply with Islamic principles. The latest addition to the popular Executive Reports series will enable you to get involved in this US$300 billion business. Although the roots of Islamic finance lie in ancient Islamic principles, the development of Islamic finance as an industry is relatively new. Whilst conventional commercial banks provide financial intermediation services on the basis of interest (charged and paid), the basic premise of Islamic finance is the prohibition of interest. Islamic bankers have developed a number of instruments that can perform financial intermediation functions without the involvement of interest. From a small banking experiment in rural Egypt during the 1960s, Islamic finance is currently expanding at a rate of 10-15% per annum Per annum Yearly. . It now represents a vast global practice and the preferred channel of banking for one fifth of humanity. Rapid growth is expected for this industry and Islamic finance offers bright prospects for those involved. One of the reasons for this optimism is the huge amount of petro-dollars (estimated to be US$1.3 trillion) currently afloat due to the post Iraq war Iraq War: see under Persian Gulf Wars. Iraq War or Second Persian Gulf War Brief conflict in 2003 between Iraq and a combined force of troops largely from the U.S. and Great Britain; and a subsequent U.S. increase in oil prices. As a result of which, the number of high net worth individuals in the Middle East (of whom the majority are Muslim) has increased by 9.5% over the past few years. Consequently there is tremendous scope for developing and marketing new Islamic financial instruments and Shari'ah compliant money managers are extremely well positioned. In order to take advantage of this growth, familiarity with basic principles of Islamic finance is essential. The author of this new report, Munawar Iqbal Munawar Iqbal, (born February 27, 1948, in Lahore), the former Pakistan No. 3, was 16 when he first played for Pakistan at the Davis Cup, first competing in 1964. He made it to the second round at Beckenham, United Kingdom in 1968 at his first ATP Tournament. , Dean of the School of Islamic Banking Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. and Finance in International Islamic University International Islamic University may refer to:
By reading this concise report you will quickly get up-to-speed on this booming financial sector. Islamic Finance will help you: Become acquainted with the theory, practice and limitations of Islamic banking; Understand how to develop products for the Islamic financial industry; Grasp the objectives and sources of Islamic law Noun 1. Islamic law - the code of law derived from the Koran and from the teachings and example of Mohammed; "sharia is only applicable to Muslims"; "under Islamic law there is no separation of church and state" sharia, sharia law, shariah, shariah law and the basic guidelines for business contracts; Evaluate and implement the Islamic banking model and the financial modes presently in use by Islamic financial institutions; Learn about Islamic fund management and insurance; Consider future prospects and opportunities of the Islamic financial industry. Due to the success of Islamic banking, many conventional commercial banks are now offering their clients Islamic financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . Several mega multinational banks such as Citibank, HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) , Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank , are already actively involved in Islamic finance. This is recommended reading for anyone hoping to take advantage of the boom in Islamic finance. Author biography Munawar Iqbal is Dean of the School of Islamic Banking and Finance, International Islamic University (IIUI IIUI International Islamic University Islamabad (Pakistan) ), Islamabad, Pakistan. Before joining IIUI, he served as the Chief of Research in Islamic Banking and Finance at the Islamic Research and Training Institute of the Islamic Development Bank Islamic Development Bank (also known as IDB), is a multilateral development financing institution. located in Jeddah, Saudi Arabia. It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC), convened 18 December 1973. , Jeddah, Saudi Arabia Saudi Arabia (sä  `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. (the largest Islamic Financial
Institution in the World). Professor Iqbal has also served as Economic
Adviser to Al-Rajhi Banking The Al-Rajhi Bank (Arabic: مصرف الراجحي) (known as the Al Rajhi Banking and Investment Corporation until a February 23, 2006 name change[1] and Investment Corporation, Saudi Arabia
(the largest Islamic Commercial Bank in the World). Earlier, he served
as the Director, International Institute of Islamic Economics, IIUI,
Pakistan. He has taught at the Islamic University Islamic University is a government financed public university of Bangladesh. It was established to promote the islamic system of education in the country. Previously it was situated in Gazipur. , Islamabad, and the
McMaster and Simon Fraser universities Simon Fraser University, main campus at Burnaby, British Columbia, Canada; provincially supported; coeducational; chartered 1963, opened 1965. The Harbour Centre campus in downtown Vancouver opened in 1989. , both in Canada. He has edited
more than ten books and published more than thirty papers in the field
of Islamic Banking and Finance. He was the founding Editor of the Review
of Islamic Economics, the professional journal of the International
Association for Islamic Economics and also founding Editor of the
Islamic Economic Studies, the professional journal of the Islamic
Development Bank. He has lectured extensively in the field of Islamic
Banking and Finance throughout the World.
Content Outline: List of Tables and Graphs Preface Glossary of Arabic Terms List of Abbreviations Introduction Objectives and Sources of Islamic Law Sources of Islamic Law Revealed Sources Sources Inferred Through Human Reasoning Maqasid al-Shari'ah Principles of Business Contracts in Islamic Law Islamic View of Business and Economic Activities Guidance from the Qur'an on Earning Wealth What is Allowed in Wealth Creation 'Ten Commandments' with Respect to Business Contracts The Islamic Banking Model What is an Islamic Bank? Distinguishing Features of Islamic Banking Modes of Finance being used by Islamic Banks Variable Return Modes Trade Based Modes Theory versus Practice with Respect to the Use of Various Modes Secondary Market Instruments How to Develop New Islamic Banking Products Scope for Financial Engineering in Islamic Finance How New Products can be Developed Permissibility of Hybrid Contracts The Five Cs of Islamic Financial Engineering The Practice of Islamic Banking Country Experiences with Islamic Banking Islamic Banks Working in Competitive Environments Islamic Banking Windows in Conventional Banks Evaluation of Islamic Banking Growth Analysis Ratio Analysis Islamic Fund Management Permissibility of Investment Funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company Conditions for Participating in Equity Funds Scope for Islamic Investment in Equity Markets Islamic Investment Funds in Practice Islamic Insurance Reasons and Means to Insure Is Commercial Insurance Permissible in Islam? Stock Insurance Companies' Business Model Objection Raised against Stock Insurance Model Conclusion on Permissibility of Insurance Islamic Alternative to Commercial Insurance: Takaful | Takaful is an Islamic insurance concept which is grounded in Islamic muamalat (banking transactions), observing the rules and regulations of Islamic law. The Future of Islamic Finance Need to Broaden the Base Preparing for Increased Competition Need to Increase the Size of Islamic Banks Need to Diversify in the Use of Various Modes Fulfilling the Long Term Finance Needs Areas of Potential Growth The Way Forward Conclusion Index For more information visit http://www.researchandmarkets.com/reports/c68638 |
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