Institute of Islamic Banking & Insurance

This book describes the concepts, theory and evolution of Islamic economics and financial system. It also discusses the operational difficulties and future prospects along with a study of Islamic banks functioning in different areas of the world. The encyclopedia is seperated into eight sections. 24 articles, written by scholars, jurists, economists and bankers from different countries, are presented within the first 6 sections._x000D_

The work is divided into eight sections--on concepts, theory, and evolution; on Islamic banking operations; on investment and insurance; on inter-bank relations, on Islamic banking experiences; on international groups and organizations; on research and coordination; and on an international survey of Islamic banking institutions. The foreword is written by Prince Muhammad Al-Faisal Al-Saud, the chairman of both the International Association of Islamic Banks and Dar al-Maal al-Islami. Muzzam Ali, vice chairman of both these organizations, contributes the introduction.

This directory is divided into three main sections. Section one deals with the history, concept and practice of Islamic insurance (Takaful), the section 2 deals with operations and products and the section 3 provides the listing of all institutions and organization doing business with Islamic insurance.

The work is divided into nine chapters. The first of these chapters deals with ideological matters and with the abstract framework of certain Islamic banking arrangements. Next, attention is given to the interaction between Islamic banks and state authorities. The third chapter is devoted to issues of interaction among institutions within the Islamic banking community. The following chapter is focused on the dynamics within Islamic banks themselves. The fifth chapter looks at how Islamic banks relate with those who place their funds with them.

This book is a compilation of some of the papers presented at an international conference in London on 'Developing an Accounting System for Islamic Banking'.

This book emphasizes the practical and operational aspects of Islamic banking. The topics covered include inter-bank relationships, supervisory bodies, banking instruments, and the steps involved for establshing an Islamic bank.

This is volume II of A compendium of legal opinions on the operations of Islamic banks; the focus is limited to ijara , sarf , and riba .