Islamic Finance: Why It Makes Sense: Understanding its Principles and Practices

by Vicary Daud Abdullah

Though small in comparison with conventional finance, Islamic finance is at the threshold of serious expansion, growing at between 15–20 per cent a year. Yet the wealth potential of Islamic finance is far from being its most attractive feature. What is most compelling about Islamic finance are its ethical principles and strong corporate governance based on Shariah law. This book explains how conventional financial products work―from mortgages and leases to trade finance and insurance―before delving into their Islamic versions.

Genres: Islam, Finance, Religion, Nonfiction, Business, Economics

312 pages, Paperback

First published September 28, 2010

Reviews

[Irfan Muhaimin · Rating 5 out of 5]

Bagi seseorang bukan dibesarkan dalam keluarga
Islam dan menulis sebuah buku mengenai perbankan
Islam selayakya dipuji. Secara peribadi agak skeptikal dengan sistem perbankan Islam kerana sering dikatakan hanya saling nama dan meggunkan nama arab. Dalam buku ini menjelaskan bagaimana menghalalkan perbankan Islam. Antara perkara penting perlu dipatuhi ialah tidak kepada riba', bukan dalam pelaburan haram, rugi dan untung dikongsi bersama, harus jelas dan tidak uncertainty. Perbankan Islam ini sangat luas bukan berkisar tentang loan semata mata. Menggunakan aset yang nyata antara kaedah digunakan, teknik bank membeli aset dan menjual balik kembali kepada kita. Walaupun instrumen digunakan seolah hanya tukar nama kerana pelanggan akan lihat jumlah dibayar tapi usaha untuk mengelak riba yang diketuai fugaha harus diikuti. Bank Islam perlu kompetitif dengan Bank Conventional.
Menarik buku ini, ada rajah dan senario yang membantu anda memahami. Ada juga kaedah perbankan digunakan semata mata meningkat sosioekonomi tapa sebarang untung seperti gade hassan.

[Firas Maad · Rating 5 out of 5]

I got an internship at an Islamic organization and I needed to learn more about Islamic finance in terms of origin, progress, modes, scale and reach, and overall mission and vision.

The book is, somewhat, objective talking about the doubts and on-going struggles while praising the exponential progress Islamic finance has shown. It is an easy read with easy to comprehend examples; some chapters were too basic and repetitive but I needed the reassertion of some of the concepts at times.

A must read for financiers, bankers, entrepreneurs, policy makers, students, scholars, and NGO enthusiasts and for-profit socially conscious business people who want to look beyond conventional finance and, probably, might actually adopt and like Islamic finance-type of thinking.

F.M

[Tia Oktaviani · Rating 5 out of 5]

Bgus

[Luqyan · Rating 3 out of 5]

It reads like training modules with some explanation on key concepts of Islamic finance. the argument for why islamic finance makes sense is not really compelling. however, the book is a good introductory reading for those wanting to understand how islamic banks work.

[Pablo Rognone · Rating 5 out of 5]

Must read book for anyone who need a clear base of how finances works at Islamist Countries.