This chapter introduces the reader to a brief description of modern finance ideas as regards wealth management. As at 2016, the total wealth under management as securities is about US$44 trillion managed by some 13,000 management companies. Humanity has accumulated wealth aster in the last century than at any time in history. Most of the wealth – almost three quarters of them - is concentrated in the industrialized countries. How the wealth is managed by advanced IT-based mathematical models is explained in this chapter. None of these methods are excluded if one were to adopt Islamic concept of wealth, which idea leans in ways to make the choices of wealth creation, and management on the basis of moral sentiments of the community in which wealth should be accumulated to benefit the community.

Sukuk bonds are certificates issued by a borrowing firm to the joint owners who provide the funds when a firm issues sukuk bonds. There are six different types of funding for six different purposes for which funds can be borrowed in a sukuk bond exchange. There are some 17 such exchanges and the exchange in Malaysia holds two-thirds of the outstanding value of such bonds. This chapter provides an introduction of the principles governing the issuance of such debt instruments. It also examines the pricing behaviour to show how the yields are different for different tenor, and for difference sin riskiness.

This chapter presents a socio-economic profile of Muslim countries as at the beginning of the second decade of the 21st century. In broad terms, the 57 majority Muslim countries have a combined population of 1.4 billion Muslims, which is 23 percent of the world population. An additional 200 million to 350 million live as minorities in almost all other nations. The World Bank’s human development index score of 59 for them is 15 percent lower than the world average. In fact, the slightly lower human development score is surprisingly good news on how far the Muslim countries have progressed based on the perception of their situation some 60 years ago as depicted in the then contemporary historical accounts. Muslims then were described as examples of lack of modernization and their countries were examples of poor governance. During the 60-year period, most of these nations gained freedom from colonial rule. The extent of the progress made in the contemporary period is examined in this study using factual socio-economic data series. This augurs well for future development towards democracy, development, and human progress of Muslims around the world.