Islamic Finance: A Practical Introduction

Islamic finance is a growing industry with an ever-increasing significance in the West: banks offer Muslim-friendly investments; interest-free loans are readily available and more information on the subject, for everyday readers, is essential. This volume aims to offer a basic introduction to the complexities of Islamic finance in the modern world that will be suitable for STUDENTS and lay readers. The book has been checked and edited by leading experts in the field, including Professor Khurshid Ahmad, a notable authority. Up-to-date information. In addition to introducing Islamic finance the book also explains the religious principles that govern the field.

This book aims to introduce and explain the major theories, systems and applications of Islamic finance in an easy and practical way. Islamic finance and banking is governed by the tenets of Islam and is based upon the principles of the Shariah that constructs a code of conduct for Muslims to adhere to when managing their lives, including their finances. Therefore, when understanding the basis of the principles of Islamic finance one has to consider the fact that Muslims believe that economic transactions should take place responsibly, ethically and with the remembrance that Allah (God) is the owner of all wealth.