ISLAMIC BANKING THEORY PRACTICE AND CHALLENGES pdf download

Islamic Banking Theory Practice And Challenges by Fuad Al-Omar & Mohammed Abdel-Haq

ISLAMIC BANKING THEORY PRACTICE AND CHALLENGES

Book Contents

• Framework of Islamic Finance i
• Background / i Goals of Islam (Maqasid Al-Shan‘ah ) / 2
• Object of contracts ( al-Ma‘qud‘alayh )) / 3
• Key issues / 5
• Forbidden contracts/elements / 10
• Financing techniques / 1 1
• Overview of Islamic Banking 21
• Background / 2 1 Problems / 22
• Islamic banks and riba / 23
• The nature of financing / 2 5
• The time-value of money / 2 5
• The social-ethical dimension / 26
• Central banks and Islamic banks / 28
• Government and the economy / 29
• Religious regulation / 30
• Banking Services / 30
• Al-Baraka International Bank Limited (AIBL):
• The Experience of an Islamic Bank in England 34
• A profile / 34 Function / 39 Priorities and conformity to Islamic values / 40
• Fund utilization / 42
• Performance / 43
• The Jordan Islamic Bank for Finance and Investment (JIB): The Experience of an Islamic Bank in Jordan 48
• Banking in Jordan / 48 A profile of JIB / 49 Functions / 52
• The bank’s transactions and conformity to Islamic values / 53
• Fund utilization / 5 6 Performance / 57
• Special Finance Houses in Turkey, with Emphasis on (Al-Baraka Turk) Al-Baraka
• Turkish Finance House 63
• Legal framework / 63 A profile / 6 4 Fund utilization / 65
• Al-Baraka Turk / 76
• Islamic Banking in Malaysia 84
• Growth of Islamic Banking / 84
• Derivatives, and the Challenges in the Development of Islamic Secondary-Market
• Instruments: The Experience of the Islamic
• Development Bank 88
• Overview of the Islamic Development Bank (IDB) / 88
• Trading of financial certificates / 91
• Interaction between derivatives and Islamic financing / 91
• The IDB and the  development of the Islamic secondary market / 92
• Islamic Banking in Pakistan 96
• Introduction / 96
• Process / 98
• Appraisal / 99
• Summary and conclusion / 103
• Comparative Analysis of the Financial
• Statements of Islamic and non-Islamic Banks 104
• Differences between Islamic and conventional banks / 104
• Comparative analysis / 106 Beyond the balance sheet / 107
• The Challenges Faced by Islamic Banks 109
• Conventional banks and Islamic banking / 109
• Central banks and supervision / no Shari’ ah rulings and councils / in New banking regulations / 112 Accounting principles and procedures / 113
• Absence of liquidity instruments / 113
• Medium-term investments and instruments / 114
• Risk analysis  and measurement / 115 Lack of qualified professionals / 116
• Product diversification and serv ice quality / 117
• Non-maturity of secondary market / 117 Cost-effectiveness/ 118
• Professionalism / 118 Co-operation among Islamic banks / 1 18
• Social role and duty / 119