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Islamic Finance in a Nutshell: A Guide for Non-Specialists
The recent turbulence in the global financial markets has drawn attention to an alternative system of financial intermediation: Islamic banking and finance, which has so far remained on the sidelines of the unrest. Islamic Finance in a Nutshell is a quick and easy guide to understanding the fundamentals of Islamic Finance and how the Islamic Financial markets work. ...more
Paperback, 341 pages
Published June 8th 2010 by John Wiley & Sons
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“Islam is not only concerned with the relationship between man and God but it is also a system of beliefs, justice, equity, fairness and morality, these being the values that underpin the entire Islamic way of life. These beliefs are governed by the body of Islamic principles generally referred to as Sharia’a, which is, not surprisingly, the basis for the creation of Islamic financial products.”
“Accordingly, under Islam, either people invest with risk or suffer loss by keeping their money idle. Islam encourages the notion of higher risks and higher returns and promotes it by leaving no other avenue available to investors. The objective here is that high-risk investments provide a stimulus to the economy and encourage entrepreneurs to maximise their efforts to make them succeed, with appropriate benefits to the community.”More quotes…