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|Title:||The Islamic banking and finance workbook: step-by-step exercises to help you master the fundamentals of Islamic banking and finance.||Authors:||Brian Kettell.||Keywords:||Islamic banking and finance.||Issue Date:||2011||Publisher:||John Wiley and Sons||Abstract:||The ongoing turbulence in the global financial markets has drawn attention to an alternative system of financial intermediation: Islamic banking and finance. This sector is now one of the fastest growing within the marketplace and has, so far, remained on the sidelines of this financial unrest. Since the inception of Islamic banking, about three decades ago, the number and reach of Islamic financial institutions worldwide has risen significantly. Institutions offering Islamic financial services constitute a significant and growing share of the financial system in several countries. Indeed the Islamic finance industry is in the midst of a phenomenal expansionary phase, exhibiting average annual growth rates of about 15% in recent years. This rapid growth has been fuelled not only by a surging demand for Sharia’a-compliant products from financiers in the Middle East and Muslim countries, but also by investors around the world, thus rendering the expansion of Islamic finance a global phenomenon. Besides its wide geographical scope, the rapid expansion of Islamic finance is also taking place across the whole spectrum of financial activities, ranging from retail banking to insurance and capital market investments. But perhaps the most striking has been the fast growth of sukuk (Islamic bonds), the most popular form of securitised credit finance within the industry. Sukuk issuance soared over the period 2001–2007 although it has fallen back more recently. Educational and training material for the industry is, however, lagging far behind the speed at which the industry is evolving. Indeed the lack of quality educational and training material has now become a serious obstacle to effective training and education. This workbook is designed to provide students and practitioners with the first ever workbook that enables readers to test their understanding of the underlying principles. Emphasis is placed on multiple choice questions and tests of the basic concepts. Suggested answers are provided. It must be stressed that the newness of the industry means that designing quality educational and training material is fraught with problems. In addition to this newness the industry also faces the challenge of changing Sharia’a interpretations of many of the products. Although this factor should not be exaggerated, given that Sharia’a law has been around for centuries, the existence of different schools of Islamic jurisprudence (Fiqh) combined with controversies revolving around some of the contracts has certainly created some uncertainties as to how the contracts are being applied. These aspects may lead to the potential for controversy over some of my suggested answers. No doubt some of the answers will be disputed. I cannot claim to have universal answers and would ask that readers please assume that these may change over time. welcome a dialogue. Indeed if anyone wishes to provide me with reasons for their proposed alternative solutions I would urge them to please do so, and I will be delighted to thank them in later editions. It is this dialogue that is so important for the health and future of the industry and I look forward to an active debate with the readers. My email address is email@example.com. Companion texts are available from the publishers: Introduction to Islamic Banking and Finance and Case Studies in Islamic Banking and Finance.||URI:||http://dspace.uniten.edu.my/jspui/handle/123456789/15671|
|Appears in Collections:||UNITEN Energy Collection|
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|The Islamic Banking and Finance Workbook_ Step-by-Step Exercises to help you Master the Fundamentals of Islamic Banking and Finance ( PDFDrive.com ).pdf||3.1 MB||Adobe PDF||View/Open Request a copy|
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