Islamic Finance

This important book aims to support and inform finance professionals, corporate executives, global investors and students of finance, by providing an accessible guide to the principles and current practice of Islamic banking and Shari'a-compliant finance.

Although Islamic financial products do not pay interest, they can often be as advantageous, or more so, than conventional products. And, at a time when derivatives-based markets have failed, Islamic financial instruments, based on the firm establishment of underlying assets, are going to be ever more popular.

Also, mirroring the Western concept of « socially responsible investment (SRI) », Islamic investment is based on ethical principles, excluding areas such as gambling, alcohol, weapons and products that involve high-risklhigh-return. Islamic and conventional banking have converged in recent years and investors and asset managers have become increasingly attracted to financial products and institutions that adhere to Shari'a principles, both for sound investment reasons and to fulfil an SRI brief.

Islamic finance is being used more and more by ethically aware investors in the West and has become a truly international phenomenon, with Barclays Capital, BNP Paribas, Citibank, Credit Suisse, Deutsche Bank and HSBC all now offering Islamic banking services worldwide. Personal loans and credit cards, Islamic hedge funds, Islamic bonds and Islamic real estate vehicles are all now available in this fast growing sector.

Consultant Editor: Roderick Millar.
Editor: Habiba Anwar.
Published in association with the Institute of Islamic Banking and Insurance and compiled by leading business author Roderick Millar, Islamic Finance : A Guide for International Business and Investment includes editorial contributions from leading international experts and from world class professional firms such as: Al Rajhi Bank, Bank of London and the Middle East, Credit Suisse, Denton Wilde Sapte, Durham University, Islamic Bank of Britain, PricewaterhouseCoopers, Clifford Chance and others.