<i>Mastering Islamic Finance </i>will<i> </i>give practitioners an understanding of Islamic finance, from the basic techniques, through to advanced applications. Helping to demystify and clarify the differences with conventional banking, it will enable practitioners to develop Sharia compliant products for customers.

<ul>
    <li>Part 1: Background </li>
    <li>1. &nbsp;&nbsp; The Islamic Finance Phenomenon </li>
    <li>2. &nbsp;&nbsp; Islam &ndash; key beliefs, principles and practices&nbsp;&nbsp;&nbsp; </li>
    <li>3. &nbsp;&nbsp; How Islamic finance differs from conventional banking </li>
    <li>4. &nbsp;&nbsp; Valid commercial contracts in Islamic finance </li>
    <li>Part 2:&nbsp; Islamic Finance in Practice </li>
    <li>5. &nbsp;&nbsp; Key transaction types in Islamic finance </li>
    <li>6. &nbsp;&nbsp;<i> Sukuk </i></li>
    <li>7. &nbsp;&nbsp; <i>Sharia-</i>compliant investments and wealth management </li>
    <li>8. &nbsp;&nbsp; <i>Takaful</i> &ndash; Islamic insurance </li>
    <li>9. &nbsp;&nbsp; The future of Islamic finance </li>
</ul>

A practical and accessible guide to Islamic finance that helps demystify the differences with conventional banking, enabling practitioners to develop Sharia compliant products for customers. <br/>
<br/>
The Islamic Finance industry is estimated to be worth $1.2 trillion and is growing globally at over 10% per year. <strong><em>Mastering Islamic Finance</em></strong> will give practitioners an understanding of Islamic finance, from the basic techniques, through to advanced applications. Helping to demystify and clarify the differences with conventional banking, it will enable practitioners to develop Sharia compliant products for customers. <br/>
<br/>
According to Sharia law there are strict rules on how financial services and products can be designed; in Islamic Finance money cannot make money and the subject of the finance must be an asset or a verifiable, real trade or business activity. Sharia compliant financial instruments have been devised to enable Muslims to abide by the principles of Islam and still make the most of their money. <br/>
<br/>
<em><strong>Mastering Islamic Finance</strong></em> will equip readers with an understanding of Islamic financial instruments so they can sensibly apply them in practice. For each instrument there is a definition of the concept and how it differs from its equivalent in conventional banking. There are also examples and case studies to highlight practical applications.
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<p>About the author<br/>Publisher&#8217;s acknowledgements</p><p>Author's acknowledgements</p><p>&nbsp;</p><p><b>Part 1: Background</b></p><p>1. &nbsp;&nbsp; <b>The Islamic Finance Phenomenon</b></p><p>Introduction</p><p>The Islamic finance phenomenon</p><p>Why does Islamic finance exist?</p><p>Why is Islamic finance now a sizeable and growing market? </p><p>Key&nbsp;challenges facing the industry</p><p>Conclusion</p><p>&nbsp;</p><p>2. &nbsp;&nbsp; <b>Islam &#8211; key beliefs, principles and practices &nbsp;&nbsp; </b></p><p>Introduction</p><p>Belief system <b></b></p><p>Key practices &#8211; the five pillars of action&nbsp; </p><p>Importance of the <i>Qur&#8217;an</i> and the <i>Sunnah</i></p><p>Interpretation of the <i>sharia</i></p><p>The role of scholars and&nbsp;<i>sharia</i> supervisory boards in Islamic finance</p><p>Conclusion</p><p>&nbsp;</p><p><b>3. &nbsp;&nbsp; </b><b>How Islamic finance differs from conventional banking</b></p><p>The Islamic economic model </p><p>Key Islamic finance principles</p><p>Conclusion</p><p>&nbsp;</p><p><b>4. &nbsp;&nbsp; </b><b>Valid commercial contracts in Islamic finance</b></p><p>Introduction</p><p>Key conditions for validity of contracts</p><p>Integrity of contractual arrangements</p><p>Status and use of promises</p><p>&nbsp;</p><p><b>Part 2: Islamic Finance in Practice</b></p><p><b>5. &nbsp;&nbsp; </b><b>Key transaction types in Islamic finance</b></p><p>Introduction</p><p><u>Equity type: transactions</u></p><p><i>Mudarabah </i>(Partnership; one party contributes capital)</p><p><i>Musharakah</i> (Partnership; both parties contribute capital)</p><p><u>Asset finance</u>:</p><p><i>Murabaha</i> (Sale of an asset at a known profit mark up)</p><p><i>Ijara</i> (Leasing of an asset)</p><p><i>Istisn&#8217;a</i> (Sale of an item to be constructed or manufactured)</p><p><i>Salam</i> (Sale of fungible item yet to be produced)</p><p><u>Other key transaction types:</u></p><p><i>Wakala</i> (Agent providing services to a Principal)</p><p><i>Hawalah</i> (Transferring a debt)</p><p><i>Rahn</i> (Providing security)</p><p><i>Kafalah</i> (Providing a guarantee)</p><p>Conclusion</p><p><b>&nbsp;</b></p><p><b>6. &nbsp;&nbsp;<i> </i></b><b><i>Sukuk </i></b></p><p>Introduction</p><p>Definition</p><p>Mechanics of a <i>sukuk&nbsp;</i> transaction</p><p>Types of <i>sukuk </i></p><p>Asset-based versus asset-backed <i>sukuk </i></p><p>Sukuk and the secondary market</p><p>A strong future for <i>sukuk&nbsp;</i>&nbsp;</p><p>Conclusion</p><p>&nbsp;</p><p><b>7. &nbsp;&nbsp; </b><b><i>Sharia-</i>compliant investments and wealth management</b></p><p>Introduction</p><p><i>Sharia-</i>compliant investments</p><p><i>Zakat</i> by <i>Iqbal Nasim </i></p><p><i>Sharia</i> compliant estate distribution and Islamic wills&nbsp;<i>by Haroon Rashid</i></p><p>Conclusion</p><p>&nbsp;</p><p><b>8. &nbsp;&nbsp; </b><b><i>Takaful</i> &#8211; Islamic insurance</b></p><p>Introduction</p><p><i>Sharia </i>perspective on conventional&nbsp; insurance</p><p><i>Takaful </i>&#8211; the Islamic alternative&nbsp; </p><p><i>Takaful</i> models</p><p>Types of <i>takaful </i>policy</p><p>The future of the <i>takaful</i> industry</p><p>Conclusion</p><p><i>&nbsp;</i></p><p><b>9. &nbsp;&nbsp; </b><b>The future of Islamic finance</b></p><p>Introduction</p><p>Recommendations for success by IFSB and IDB/IRTI</p><p>Opinion pieces</p><p>The Christian view of usury<i> by Robert Van De Weyer</i></p><p>The future of Islamic finance<i> by Dr Sayd Farook</i></p><p>The secret to long term success: get the direction of travel right <i>by</i> <i>Faizal Karbani</i></p><p>&nbsp;</p><p>Index</p><p>&nbsp;</p>

<p>A practical and accessible guide to Islamic finance that helps demystify the differences with conventional banking, enabling practitioners to develop Sharia compliant products for customers.</p><p>&nbsp;</p><p>The Islamic Finance industry is estimated to be worth $1.2 trillion and is growing globally at over 10% per year. <i>Mastering Islamic Finance </i>will<i> </i>give practitioners an understanding of Islamic finance, from the basic techniques, through to advanced applications. Helping to demystify and clarify the differences with conventional banking, it will enable practitioners to develop Sharia compliant products for customers. </p><p>&nbsp;</p><p><b></b></p><p><b></b></p><p><b></b></p><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p><p>According to Sharia law there are strict rules on how financial services and products can be designed; in Islamic Finance money cannot make money and the subject of the finance must be an asset or a verifiable, real trade or business activity. Sharia compliant financial instruments have been devised to enable Muslims to abide by the principles of Islam and still make the most of their money.</p><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p><p><i></i>&nbsp;</p><p><i>Mastering Islamic Finance</i> will equip readers with an understanding of Islamic financial instruments so they can sensibly apply them in practice. For each instrument there is a definition of the concept and how it differs from its equivalent in conventional banking. There are also examples and case studies to highlight practical applications.</p>

<p>About the author<br/>Publisher&rsquo;s acknowledgements</p><p>Author's acknowledgements</p><p><strong>Part 1: Background</strong></p><p>1. <strong>The Islamic Finance Phenomenon</strong></p><p>Introduction</p><p>The Islamic finance phenomenon</p><p>Why does Islamic finance exist?</p><p>Why is Islamic finance now a sizeable and growing market?</p><p>Key challenges facing the industry</p><p>Conclusion</p><p>2. <strong>Islam &ndash; key beliefs, principles and practices </strong></p><p>Introduction</p><p>Belief system</p><p>Key practices &ndash; the five pillars of action</p><p>Importance of the <em>Qur&rsquo;an</em> and the <em>Sunnah</em></p><p>Interpretation of the <em>sharia</em></p><p>The role of scholars and <em>sharia</em> supervisory boards in Islamic finance</p><p>Conclusion</p><p><strong>3. How Islamic finance differs from conventional banking</strong></p><p>The Islamic economic model</p><p>Key Islamic finance principles</p><p>Conclusion</p><p><strong>4. Valid commercial contracts in Islamic finance</strong></p><p>Introduction</p><p>Key conditions for validity of contracts</p><p>Integrity of contractual arrangements</p><p>Status and use of promises</p><p><strong>Part 2: Islamic Finance in Practice</strong></p><p><strong>5. Key transaction types in Islamic finance</strong></p><p>Introduction</p><p>Equity type: transactions</p><p><em>Mudarabah </em>(Partnership; one party contributes capital)</p><p><em>Musharakah</em> (Partnership; both parties contribute capital)</p><p>Asset finance:</p><p><em>Murabaha</em> (Sale of an asset at a known profit mark up)</p><p><em>Ijara</em> (Leasing of an asset)</p><p><em>Istisn&rsquo;a</em> (Sale of an item to be constructed or manufactured)</p><p><em>Salam</em> (Sale of fungible item yet to be produced)</p><p>Other key transaction types:</p><p><em>Wakala</em> (Agent providing services to a Principal)</p><p><em>Hawalah</em> (Transferring a debt)</p><p><em>Rahn</em> (Providing security)</p><p><em>Kafalah</em> (Providing a guarantee)</p><p>Conclusion</p><p><strong>6. <em>Sukuk </em></strong></p><p>Introduction</p><p>Definition</p><p>Mechanics of a <em>sukuk </em> transaction</p><p>Types of <em>sukuk </em></p><p>Asset-based versus asset-backed <em>sukuk </em></p><p>Sukuk and the secondary market</p><p>A strong future for <em>sukuk </em></p><p>Conclusion</p><p><strong>7. <em>Sharia-</em>compliant investments and wealth management</strong></p><p>Introduction</p><p><em>Sharia-</em>compliant investments</p><p><em>Zakat</em> by <em>Iqbal Nasim </em></p><p><em>Sharia</em> compliant estate distribution and Islamic wills <em>by Haroon Rashid</em></p><p>Conclusion</p><p><strong>8. <em>Takaful</em> &ndash; Islamic insurance</strong></p><p>Introduction</p><p><em>Sharia </em>perspective on conventional insurance</p><p><em>Takaful </em>&ndash; the Islamic alternative</p><p><em>Takaful</em> models</p><p>Types of <em>takaful </em>policy</p><p>The future of the <em>takaful</em> industry</p><p>Conclusion</p><p><strong>9. The future of Islamic finance</strong></p><p>Introduction</p><p>Recommendations for success by IFSB and IDB/IRTI</p><p>Opinion pieces</p><p>The Christian view of usury<em> by Robert Van De Weyer</em></p><p>The future of Islamic finance<em> by Dr Sayd Farook</em></p><p>The secret to long term success: get the direction of travel right <em>by Faizal Karbani</em></p><p>Index</p> 

Faizal Karbani

Mastering Islamic Finance: A practical guide to Sharia-compliant banking, investment and insurance

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Mastering Islamic Finance: A Practical Guide To Sharia-Compliant Banking, Investment and Insurance

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Mastering Islamic Finance: A Practical Guide To Sharia-Compliant Banking, Investment and Insurance, 1st edition

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