Islamic Banking and Finance: New Perspectives on Profit Sharing and Risk

Islamic Banking and Finance: New Perspectives on Profit Sharing and Risk
Автор
 
Год
 
Страниц
 
248
ISBN
 
1840647876
Издатель
 
Quorum Books
Категория
 
Международный аспект

Описание:

It is a well-known fact that conventional commercial banks provide financial intermediation services on the basis of interest rates on assets and liabilities. However, since interest is prohibited in Islam, Islamic banks have developed several other modes through which savings are mobilized and passed on to entrepreneurs, none of which involve interest. 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. The authors illustrate that in addition to some 200 Islamic banks operating in Muslim as well as non-Muslim countries, some of the biggest multinational banks are now offering Islamic financial products. This book will fascinate students,...

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