In recent times the Islamic religious movement has been steadily gaining importance in the Muslim world, demonstrating a clear desire to modify existing institutions in order that they conform to the values of traditional Islamic culture. This new book examines the application of such norms to modern finance: Islamic banking. This work addresses the surprising lack of familiarity with modern Islamic banking among Western bankers and lawyers and the virtual absence of competent discussion and correct information on the subject. The author provides a thorough review of Islamic banking, its development, participants' aims and structure, goes on to study its contractual basis and finally, by way of a case study of the Faisal Islamic Bank of Egypt, determines the financial viability of Islamic banks. He proposes that Arab Islamic banking is a fundamentally different financial system from the system currently dominant throughout the world, and further, is a viable financial phenomenon.
Reihe
Sprache
Verlagsort
Verlagsgruppe
Kluwer Academic Publishers Group
Zielgruppe
Für höhere Schule und Studium
Für Beruf und Forschung
Illustrationen
Maße
ISBN-13
978-1-85966-101-7 (9781859661017)
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Schweitzer Klassifikation
I: Introduction. A: Introduction to Islamic Banking. 1. Goals and Methods of this Work. 2. History of Islamic Banking. 3. Islamic Financial Institutions. 4. Aims of Islamic Banking. 5. Organizational Structure of Islamic Banking. 6. Successes and Difficulties of Islamic Banking. B: Introduction to Islamic Law. 1. Histort of Islamic Law. 2. Resume of Usul al-Fiqh. 3. Riba and Gharar. 4. Summary of Relevant Contracts. 5. Note on Theory and Practice. II: Modes of Finance in Arab Islamic Banks. A: Murabaha. 1. Medieval Murabaha. 2. Modern Murabaha. B: Musharaka. 1. Medieval Musharaka. 2. Modern Musharaka. C: Mudaraba. 1. Medieval Mudaraba. 2. Modern Mudaraba. D: Conclusions. 1. Muslim Views of Western Finance. 2. Conclusion. III: Case Study of Faisal Islamic Bank of Egypt (FIBE). A: Introduction. 1. Introduction to FIBE. 2. Brief Financial History of FIBE. B: Comparison between FIBE and Commercial Banks. 1. Comparison of Balance Sheet Items. 2. Comparison of Balance Sheet Financial Ratios. 3. Comparison of Growth Rates. 4. FIBE's Market Share. C: FIBE Income Analysis. 1. Income Figures. 2. Financial Ratios. 3. Comparison of FIBE's Income with that of Other Banks. 4. Summary of Comparisons. 5. Conclusions. D: Additional Documents. IV: Aggregate Assets and Growth Rates of Islamic Banks. V: Concluding Remarks. Appendix 1: Translations of Selected Fatwas.
