After barely half a century of experience, Islamic banking has become established as a niche industry across the world, offering new and sophisticated financial products designed to be compliant with Islamic legal principles and common law. This comprehensive book explores the theory, principles and practices underpinning this rapidly expanding sector of banking.
Islamic Banking and Finance discusses Islamic financial theory and practice, and
focuses on the opportunities offered by Islamic finance as an alternative method of
financial intermediation. Key features of profit-sharing (as opposed to debt-based)
contracts are highlighted, and the ways in which they can facilitate improved
efficiency and stability of a financial system are explored.