Book

Islam proposes that the banking systems that operate on the basis of an ex ante fixed rate of interest be replaced by a profit-sharing system in which the rate of return to the financial resources is not known and is not fixed prior to the undertaking of the transaction. While in Islam interest is forbidden, trade and profits are permissible and in fact encouraged. The papers in this volume all address one or more of the basic questions at the theoretical level. They represents a start in the attempt to introduce rigor into the analysis of Islamic banking and finance, thereby clarifying the nature of the basic relationships underlying the system.

This book examines the importance of the Pacific region to the Malaysian economy. Particular emphasis is placed on the contributions of the Pacific to Malaysia's trade expansion and industrial development through foreign investment. The book also traces the trends in the Pacific, discusses the possible impact of such trends on the Malaysian economy in the years ahead, and draws policy implications for the 1990s and beyond.

This book is meant for both professionals and students of capital markets in an emerging economy. It is about financial behaviour of the Kuala Lumpur Stock Exchange. It provides for the first time care-fully-researched findings about the structure of pricing in this reasonably-well-organised emerging stock market in Malaysia, which is an attractive Asian location for portfolio investment. The findings reports in this book should provide useful benchmarks for practice by professionals in accounting, finance, financial economics, regulations, etc.

Buku ini memberikan pendedahan kepada perniagaan bentuk perkongsian yang meliputi aspek perundangan dan amalan perakaunan di dalam persekitaran perniagaan Malaysia. Buku ini dituju khas kepada pelajar institusi pengajian tinggi yang mengambil kursus Perakaunan Kewangan Pertengahan dan mereka yang berminat mempelajari perakaunan perkongsian.

Buku ini memberikan: 1) latihan komprehensif di dalam bidang perakaunan perkongsian, 2) bilangan soalan yang banyak berserta cadangan jawapan bagi setiap soalan, 3) penerangan dan jalan kerja yang jelas bagi setiap soalan disertakan.

This book is a collection of essays on the concept of iqtisad, inspired by the path-breaking contribution of the late Imam As-Sayid Muhammad Baqir As-Sadr. It outlines the characteristics of the Islamic economic system, and presents an in-depth theoretical analysis of how a sound banking system can perfectly operate without utilizing interest as mechanism for allocating financial resources. Muslim contributions to economics, which have been ignored throughout the past centuries, are explained.

This book applies the mathematics and concepts of quantum mechanics and quantum field theory to the modelling of interest rates and the theory of options. Particular emphasis is placed on path integrals and Hamiltonians. Financial mathematics is dominated by stochastic calculus. The present book offers a formulation that is completely independent of that approach. As such many results emerge from the ideas developed by the author. This work will be of interest to physicists and mathematicians working in the field of finance, to quantitative analysts in banks and finance firms and to practitioners in the field of fixed income securities and foreign exchange.

This book explains the fundamental principles and functions of an economic, banking and financial operating under Shariah (Islamic law). Numerous tenets of Islamic - from social justice, equality, preservation of property rights, sanctity of contracts and the prohibition of riba (interest) - are discussed with relation to the economic behavior of individuals, society and state.

This content of this book are cover on nine chapters, covering topics: Introduction Islamic economic & Islamic banking principles; Riba in Islam; Islamic law of contracts; Islamic banking techiques: mudaraba; Murabaha-cost plus financing; Musharaka; Ijara, ijara-wa iktina, ijara muntahia bit tamleek; Salam & parallel salam; and Istisna & parallel istisna.

This content of this book are cover on seven chapters, covering topics: Introduction Islamic economic & Islamic banking; Islamic financial planning concepts; Investments, unit trusts & the share market; Sukuks & contemporary investment instruments; Shariah Boards; Wills & estates; and Introduction to takaful.

This book provides the underlying principles of Shariah financial instruments and presented them in actual and practical form. Since 1983, Malaysia has been making significant inroads into the Islamic financials landscape. Today Islamic financial transactions have made their presence felt in almost all financial institutions including banks, unit trusts, insurance, discount houses, fund management, factoring, pawn broking and project financing. And with more than USD200 billion Islamic funds available in global finance today, it is logical that the business of Islamic banking, insurance and fund management is fast expanding and encroaching into non-traditional financing.

This book covers accounting for murabaha, bay' bi al-thaman al-ajil, mudarabah, musharakah, ijarah, salam, istisna', zakah, sukuk and other investments. This book is not only prescriptive but also critical of current practice, which should challenge students to critically think of improving this new discipline. Available in physical copy only (Call Number: HF 5616 I74 S525)

This book is written with the aim of providing reading and reference materials of accounting related studies that have been carried out in the Malaysian context. It will not only assist students and young researchers in conducting future research but can also be a source of reference to policymakers, implementer and relevant agencies in designing national policies. This book covers the area of corporate governance, accounting information system, financial reporting, performance measurement system, ethics, internal control and Syari'ah based accounting.

This book is to provide an introduction to Islam's conception of development and to locate it within the general topography of the spectrum of dominant ideas in their historical perspective. The book attempts to present this topography in the first three chapters throgh a brief review of major conceptions of development within the context of "twists and turns" of their historical evolution. The last three chapters present a rudimentary sketch of the contours of Islam's conception of development. Islam is a rules-based system, therefore, its conception of how humans and their collectivities can achieve material and non-material progress is also grounded on scaffolding of rule-compliance which assures such progress.

This book will be a valuable addition to the growing literature on this finance subject. In the book, an attempt is made to explain the concept of cash-waqf, its mechanism, operations and management in the light of Shariah. As the book deals with both theory and application of the cash-waqf concept in Muslim countries as well as in non-Muslim countries, it will serve as a basis for further research work.

This book provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.

This content of this book are spread over eleven chapters, covering four major themes: introduction to macroeconomics, tools and models, monetary and fiscal policies and income distribution. Available in physical copy only (Call Number: HB 172.5 H344)

The economic crisis of 2008 has shown that the capital markets need new theoretical and mathematical concepts to describe and price financial instruments. Focusing almost exclusively on interest rates and coupon bonds, this book does not employ stochastic calculus - the bedrock of the present day mathematical finance - for any of the derivations. Instead, it analyzes interest rates and coupon bonds using quantum finance. The Heath-Jarrow-Morton and the Libor Market Model are generalized by realizing the forward and Libor interest rates as an imperfectly correlated quantum field. Theoretical models have been calibrated and tested using bond and interest rates market data. Building on the principles formulated in the author's previous book (Quantum Finance, Cambridge University Press, 2004) this ground-breaking book brings together a diverse collection of theoretical and mathematical interest rate models. It will interest physicists and mathematicians researching in finance, and professionals working in the finance industry.

This is an extremely valuable book written by three highly qualified scholars whose credentials for writing such a book are difficult to match. The timing of the book is also perfect, having come at a time when the worst financial crisis in living memory has intensified the quest for reform of the international architecture. The proposals made by the authors should go a long way in not only reforming the system but also in accelerating the move towards financial globalization and convergence of the conventional and Islamic financial systems.

This book looks at Islamic finance from the perspective of the consumer who has to make very important financial decisions throughout his or her life. It provides timely and highly relevant lessons on the: principles of Islam that form the bedrock of Islamic finance; similarities and differences between conventional and Islamic finance transactions; and types of Islamic financial products and the various contracts underlying them.