Islamic Banking and Finance

The Islamic finance industry is worth about $800bn globally and is growing at an annual rate of 10 to 15 per cent. The sector''s dramatic growth since 2000, when it was worth $150bn, and profusion of investment products has been fuelled by an increasing desire by Muslims for investments that comply with Islamic law. Demand has also been triggered by the big increase in wealth in the Gulf, where growth has doubled since 2002 on the back of the soaring oil price. ~ Financial Times, May 30, 2008 - Islamic banking has grown rapidly over the past decade and continues to grow, while many conventional banks and financial institutions write off billions of bad debt. In 30 years, Islamic banking has developed from local provision to providers of established international financial products. This book explains the principles of Islamic banking and finance. It also provides a guide to Islamic finance products - such as istisna''a, murabaha, musharaka, mudaraba, ijara, sukuk, and salam - so that t See more