This book briefly surveys the evolution of the Western concept of development, recognizing the wider dimensions of human and economic development and the role of institutions and rules, which has moved toward the vision and the path of development envisaged in Islam.

How the Islamic finance approach to risk can serve as a model for global reform

The recent U.S. financial debacle has affected the entire world and led to major reviews of risk management in financial institutions. Perhaps a simpler alternative is just to adopt the systems used for centuries in Islamic finance. Risk Sharing in Finance expounds upon this novel idea, suggesting that the Islamic financial system can be developed for use around the world by providing a helpful paradigm for crafting global financial reforms.

Demonstrating how Islamic finance can...

Over the last three decades, the concepts of Islamic finance and Islamic economics have captured the attention of researchers. The growing market for transactions compatible with Islamic law (Shari-ah) is further evidence of growing interest in this mode of finance. By some estimates, the total volume of Islamic financial assets has grown by 15 to 20 percent a year since 1990 and now exceeds $1.3 trillion. The growth of the Islamic financial sector in 2006-10 period surpassed the growth of conventional financial sector in all segments of the market, ranging from commercial banking, investment...

A unique primer on quantitative methods as applied to Islamic finance

Introductory Mathematics and Statistics for Islamic Finance + Website is a comprehensive guide to quantitative methods, specifically as applied within the realm of Islamic finance. With applications based on research, the book provides readers with the working knowledge of math and statistics required to understand Islamic finance theory and practice. The numerous worked examples give students with various backgrounds a uniform set of common tools for studying Islamic finance.

The in-depth study of...

Challenges in Economic and Financial Policy Formulation provides an introductory, yet comprehensive, treatment of macroeconomic policies and their implementation in an Islamic-designed economic system.

One of the few books to view social capital from a religious perspective, Social Capital and Risk Sharing fills an important gap in finance literature. It presents a vision of a socio-economic framework discernible from the Qur'an and explores the consequences of compliance with the rules of this framework. By integrating distributive justice, rules of behavior, stock market development, economic growth, and social finance under a common theme, the authors argue that social capital is necessary to unite the ideals of Islamic socio-economic welfare with the present realities of Islamic finance...

The Book addresses theory and application of financing of government budget with non-debt creating flows through risk-sharing capital market instruments. Comparative analysis with the conventional finance will demonstrate the ability of Islamic capital market instruments to create impetus to economic stability and growth.

This book briefly surveys the evolution of the Western concept of development, recognizing the wider dimensions of human and economic development and the role of institutions and rules, which has moved toward the vision and the path of development envisaged in Islam.

Challenges in Economic and Financial Policy Formulation provides an introductory, yet comprehensive, treatment of macroeconomic policies and their implementation in an Islamic-designed economic system.

This book provides an introductory theoretical foundation of the ethics embedded in Islamic economics and finance, and it shows how this ethical framework could pave the way to economic and social justice.