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.
Rodney Wilson (Edinburgh University Press Ltd., 2012)
This book presents a detailed examination of the use of common and civil law to license and govern Islamic financial institutions. Making international comparisons, it discusses specific laws from Iran, where all banking is Shari'ah compliant, to Malaysia and the Gulf, where Islamic financial institutions compete with conventional banks. As most Islamic banks operate under national banking laws, consideration is given as to how - and indeed whether - these need to be amended.
