An Introduction to Islamic Finance: Theory and Practice

An Introduction to Islamic Finance Theory and Practice Second Edition ...

An Introduction to Islamic Finance Theory and Practice Second Edition ZAMIR IQBAL AND ABBAS MIRAKHOR John Wiley & Sons (Asia ...

Copyright © 2011 John Wiley & Sons (Asia) Pte. Ltd. Published in 2011 by John Wiley & Sons (Asia) Pte. Ltd. 1 Fusionopol ...

In the Name of Allah, the All Merciful, the All Benefi cent ...

vii Contents ...

CHAPTER Glossary ix Introduction CHAPTER The Economic System CHAPTER Riba vs. Rate of Return CHAPTER Financial Instrument ...

ix Glossary of Arabic terms A ajar: Reward for doing good akhlaq: Personality disposition stemming from individual character akl ...

x GLOSSARY OF ARABIC TERMS F fadl: Addition faqih (pl. fuqaha’): Jurist who gives rulings on various issues in the light of the ...

Glossary of Arabic terms xi holders to collect rental payments from the lessee directly. Can also be made tradable in the stock ...

xii GLOSSARY OF ARABIC TERMS maslahah: Literally, “benefi t.” Technically, it refers to any action taken to protect any one of t ...

Glossary of Arabic terms xiii R rabb al - mal: Capital owner or fi nancier rahn: a pledge (also translated as “collateral”) riba ...

xiv GLOSSARY OF ARABIC TERMS wakalah/wikala: Contract of agency in which one person appoints someone else to perform a certain t ...

1 CHAPTER 1 Introduction I slam propounds the guiding principles, and prescribes a set of rules, for all aspects of human life, ...

2 AN INTRODUCTION TO ISLAMIC FINANCE actually helped facilitate the development and growth of Western societies and economies. W ...

Introduction 3 analysis from rules of behavior (institutions) prescribed by the Creator for individuals and societies. Examples ...

4 AN INTRODUCTION TO ISLAMIC FINANCE specifi c points in time. The fi nal, universal, perfect message was then deliv- ered by th ...

Introduction 5 ISLAM’S CONCEPT OF JUSTICE As mentioned earlier, a central aim of Islam is to establish a just and moral social o ...

6 AN INTRODUCTION TO ISLAMIC FINANCE and “moderation.” These last few concepts are more precisely expressed as the principle of ...

Introduction 7 The emphasis on the axiomatic principle of Unity forms the basis for the fundamental belief that Islam recognizes ...

8 AN INTRODUCTION TO ISLAMIC FINANCE ISLAMIC ECONOMIC AND FINANCIAL SYSTEMS Given our understanding of the role of institutions, ...