Book

The fundamental of Islamic finance industry is where its operations need to comply with Shari’ah principles. There is an underlying Shari’ah-complaint contract for every product offered by financial institutions. Islamic banking today is dealing with a lot of contracts in daily transactions with regard to the financing, deposit and investment products. A contract can be regarded as the root of an Islamic business as it determines the components of a business transaction.

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)

An abstract is written in Turkish.

The failure of the capitalist system in financing with zero interest created a huge gap between the rich and the poor. According to the World Bank statistics of 2012 on Global Issues, more than 80% of the world's population live in countries where income inequality is very wide. As stated by the World Bank 20% of the poorest of the world's population accounts for less than 2% of the global wealth where 20% of the richest account for almost 77% of the global wealth in 2008. One of the main causes of this wealth inequalities is the lending with interest and which in turn increases the wealth of the minority rich and reduce the wealth of the mass. Such situation encourages the authors to look at the alternative financial system which has been recommended in Islam and which provides many financial products that can help not only in reducing the gap between the rich and the poor but can promote economic growth in a just sustainable manner. The main objectives of this book are to comprehensively discuss the Islamic financial products and the Islamic socio financial products using current practical cases besides highlighting their economic and social impact in various countries.

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 book explains the fundamental principles and functions of an economic, banking and financial system based on principles derived from the basic sources of Islam. Rules constituting the institutional scaffolding of such a system—property rights principles, sanctity of contracts and the requirement of faithfulness to terms and conditions of contracts, trust and trustworthiness, risk sharing, and prohibition of interest-rate based debt contracts among others—are discussed with relation to the economic behavior of individuals, society and state.

The book presents a study of the theoretical foundations for Islamic transactions. It provides the reader with a solid background which is essential for a comprehensive knowledge Islamic transactions, banking and finance. The main discussion include the sources for Islamic commercial and financial laws, the objectives of Sharia'ah with regard to commercial and financial transactions, property and its classifications and their implications for transactions, rights and financial rights, ownership and its types, the theory of contract, the pillars of contract, its classifications, and its options. The last chapter discusses factors that invalidate transactions such as usury/interest (riba), ambiguity (gharar), gambling (maysir), and the involvement of prohibited properties. The book is as important text note only for the students but also for all those who work in Islamic banks and financial institutions.

Zakat, being the third pillar of Islam, is an act of worship fulfilled by Muslims. As an obligatory means of alms giving expected of Muslims, it also helps to alleviate poverty in society by assisting such individuals to achieve a state of financial independence. It is maintained by Muslims that the principles of zakat derived from the Sharia is expected to remain unchanged with passing time. However, in order to achieve efficiency in the administration of zakat, innovation and technology can be used even within the parameters of Sharia. For students and researchers studying Islamic economics and zakat, it is hard to obtain the contemporary application of zakat from one single textbook as the books available in the market focus on elaborating the fiqh or jurisprudence of zakat. As such, the objective of this textbook is to provide the opportunity to learn the basics of zakat and its contemporary application by highlighting the innovative practices of zakat with issues and challenges.

The internationalization of Islamic finance in Europe and other parts of the world spurns us to believe that our Shariah Registered Financial Planner (Shariah RFP) programme is relevant to meet market demands. In Malaysia, Islamic finance is growing exponentially. This new Shariah RFP text module features fully updated information to reflect the current changes in the market sphere. First written by industry leading practitioners in 2008, the work has been further enhanced to correctly reflect the exponential changes Islamic finance has undergone over the recent years as the industry has seen the introduction of many new Islamic financial products in the market place.

This book provides a comprehensive and practical framework for conducting research in the fields of economics and finance. It guides readers through each stage of the research process, from identifying and refining research questions to designing appropriate methodologies, collecting and analyzing data, and presenting findings effectively. The text underscores the importance of systematic, transparent, and reproducible research practices in producing credible and impactful results. By combining theoretical insights with practical guidance, the book equips both emerging and established researchers with the essential tools to carry out high-quality, methodologically sound studies that contribute meaningfully to the advancement of economic and financial knowledge.

This is a manual and guideline on Takaful Broking which is essential in preparing oneself for the innovative and first of its kind certification by IBFIM and MITBA called the Basic Certificate Course in Takaful Broking (BCCTB).

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 an introductory, yet comprehensive, treatment of macroeconomic policies and their implementation in an Islamic-designed economic system

This book presents contemporary issues in financial reporting of Islamic financial institutions. Two key areas are covered namely, accounting for Islamic financial transactions and shariah governance. The main motivation to publish this book is to share our understanding on the unique nature of Islamic finance industry and the approach taken in accounting and reporting of Islamic financial transactions. Also, the book illustrate the importance of shariah governance in ensuring end-to-end shariah compliance. This book is to provide a practical guidance to researchers, industry practitioners and the other stakeholders.

There is no ready made definition for corporate governance. Some view corporate governance as an indescribable term like love and happiness, the nature of it is easy to understand, but difficult to describe in words. Islamically aligned corporate governance principles that apply to Islamic banking are dubbed as Shari'ah corporate governance. Corporate governance is essential to achieve optimal performance of any company. Without good corporate governance principles, a company could be described as a boat withour a rudder, which has no mission and vision to achieve.

This book contains 17 chapters contributed by authors specializing in the related areas. The objective of the book is to disseminate research findings and ideas on corporate governance issues including environmental highlights from empirical works and literature reviews. This book will provide bases of reference for companies in enhancing their governance practices as well as for future researchers.

The institution of waqf is a historical institution adopted and developed by Muslims to get closer to Allah (s.w.t.) by providing different services to their societies and communities. This institution provides many goods and services such as education, healthcare, national security, different kinds of agricultural and industrial products, transportation facilities and basic infrastructure without any cost to the government. However, the last century, namely at the end of the Ottoman Empire, witnessed the destruction of this institution and its role was replaced and carried out by the governments in the Muslim countries, a move that exhausted the government's budget. Available in physical copy only (Call Number: BP 170.25 A1358)

The objective of this element is to provide an overview of Islamic finance by highlighting the impact of the pandemic on it in a comprehensive manner by looking at two branches of Islamic finance: Islamic commercial finance; and Islamic social finance. The approach that is adopted in this element is to first provide an overview of Islamic finance to the readers in a simple and easy manner followed by the impact of pandemic discussed separately for both types of Islamic finance. Last, but not least, the element also recommends ways in which Islamic finance could be further improved in the light of the lessons learnt from the pandemic. It is anticipated that the recommendations made in this regard would assist policymakers, practitioners, researchers and other stakeholders of Islamic finance to understand the way to unlock the full potential of Islamic finance to reduce the wealth gap and achieve financial inclusion.