Books

Discusses core concepts of Islamic banking and finance including Ijara, Mudaraba, and

Islamic banking and finance is one of the fastest growing sectors in the financial industry. It went largely untouched by the recent global financial crisis. Since the inception of Islamic banking thirty years ago, the number and reach of Islamic financial institutions worldwide has risen significantly. Institutions offering Islamic financial services constitute a significant and growing share of the financial system in many countries. Market participants are joining the race to study and be a part of this lucrative and quickly growing financial system.

The Islamic finance industry has experienced rapid growth in recent years. Islamic finance products are becoming more sophisticated and are not limited to replications of conventional financial products. Instead of relying on interest based and speculative transactions, Islamic finance is built on real economic transactions, such as trade and investment based profit sharing. Islamic finance aims to incorporate the Islamic principles of social justice, kindness, and trustworthiness into the financial world, creating markets which are both profitable and ethical.

The recent turbulence in the global financial markets has drawn attention to an alternative system of financial inter-mediation: Islamic banking and finance, which has so far remained on the sidelines of the unrest. In addition to man’s relationship to God,

Terms: *S1 Petroleum industry and trade--Islamic countries. *S2 Islamic countries--Economic conditions. *S3 Islamic countries--Social conditions.

This report presents the recent findings of a wide ranging study on Grameen Bank and its operations, success factors and most importantly provides explanations to some of the criticisms. Using multivariate analysis, it examines and discusses the access to loan to the poor, in particularly women, and addresses economic and social impacts of access to loans, as well as women's control over their enterprises and income. Finally, it investigates the exclusion of the poorest in micro-credit schemes.