- Foundations of Islamic Finance series
Edited by Mervyn K. Lewis, Mohamed Ariff and Shamsher Mohamad
Chapter 1: Issues in the risk and regulation of Islamic banking
This book is the result of an international collaboration of scholars, all specializing in the field of Islamic finance, publishing symposium findings under the Edward Elgar series on the Foundations of Islamic Finance. Following an initial volume, The Foundations of Islamic Banking. Theory, Practice and Education, 2011, the first volume in the series dealt with a specialized area, namely The Islamic Debt Market for Sukuk Securities (2012). The present book is entitled Risk and Regulation of Islamic Banking, and in comparison with the 2011 volume contains conceptual material, along with new ideas on Islamic banking products, risk, regulation and associated practical issues. While the 2011 book provided a general introduction to some of the ethical principles–such as participative banking mandated via profit-sharing and risk-sharing instead of pre-agreed interest payments, which has been widely used in conventional banking since the sixteenth century–we provide in this new volume an analysis of some of the available Islamic banking products, in particular, how these products ought to be designed in practice, by examining a number of banking products and their risk elements. The book also documents the process through which some countries have brought in new regulations to manage this participative risk-sharing banking to deliver a similar level of service as conventional banking with the added ethical dimension.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.