Handbook of Islamic Banking

Edited by M. Kabir Hassan, University of New Orleans, US and Mervyn K. Lewis, Professor of Banking and Finance, University of South Australia and Fellow, Academy of Social Sciences, Australia
The Handbook of Islamic Banking comprises 25 studies by leading international experts on Islamic banking and finance specially commissioned to analyse the various debates and the current state of play in the field. From its origins thirty years ago, Islamic banking has expanded rapidly to become a distinctive and fast growing segment of the international banking and capital markets. Despite this expansion, Islamic banking still remains poorly understood in many parts of the Muslim world and continues to be a mystery in much of the West. This comprehensive Handbook provides a succinct analysis of the workings of Islamic banking and finance, accessible to a wide range of readers. At the same time, it seeks to bring the current research agenda and the main issues on Islamic banking before a wider audience. Islamic banking offers, as an alternative to conventional interest-based financing methods, a wide variety of financial instruments and investment vehicles based on profit-and-loss sharing arrangements. These are all explored in detail along with other subjects such as governance and risk management, securities and investment, structured financing, accounting and regulation, economic development and globalization. M. Kabir Hassan, Mervyn Lewis and the other contributors have created an authoritative and original reference work, which will contribute to a wider understanding of Islamic banking as well as provoking further discussion and research. It will be invaluable to all scholars, researchers and policymakers with an interest in this subject.
Contributors include: H. Ahmed, Z.U. Ahmed, L.M. Algaoud, S. Archer, R. Baba, M.M. Billah, K. Brown, M.U. Chapra, M.A. Choudhury, H. Dar, S. Elfakhani, M. El-Gamal, S. Hakim, M.K. Hassan, M. Iqbal, M. Kahf, R.A.A. Karim, M.F. Khan, T. Khan, M.K. Lewis, M.J.T. McMillen, A. Mirakhor, V. Nienhaus, M. Obaidullah, R. Saadallah, Y.M. Sidani, M. Skully, S.E.-D.I. Tag El Din, R. Wilson, I. Zaidi, I. Zbib

June 2007 464 pp Hardback 978 1 84542 083 3 $225.00

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Handbook of Islamic Banking
Edited by M. Kabir Hassan and Mervyn K. Lewis

Contents & Contributors
1. Islamic Banking: An Introduction and Overview M. Kabir Hassan and Mervyn K. Lewis PART I: FOUNDATIONS OF ISLAMIC FINANCING 2. Development of Islamic Economic and Social Thought Masudul Alam Choudhury 3. Islamic Critique of Conventional Financing Latifa M. Algaoud and Mervyn K. Lewis 4. Profit-and-loss Sharing Contracts in Islamic Finance Abbas Mirakhor and Iqbal Zaidi 5. Comparing Islamic and Christian Attitudes to Usury Mervyn K. Lewis PART II: OPERATIONS OF ISLAMIC BANKS 6. Incentive Compatibility of Islamic Financing Humayon Dar 7. Operational Efficiency and Performance of Islamic Banks Kym Brown, M. Kabir Hassan and Michael Skully 8. Marketing Islamic Financial Products Said M. Elfakhani, Imad J. Zbib and Zafar U. Ahmed 9. Governance of Islamic Banks Volker Nienhaus 10. Risk Management in Islamic Banking Habib Ahmed and Tariqullah Khan PART III: INSTRUMENTS AND MARKETS 11. Islamic Money Market Instruments Sam Hakim 12. Trade Financing in Islam Ridha Saadallah 13. Securitization in Islam Mohammed Obaidullah 14. Islamic Project Finance Michael J.T. McMillen 15. Islam and Speculation in the Stock Exchange Seif El-Din Tag El-Din and M. Kabir Hassan 16. Islamic Mutual Funds Said Elfakhani, M. Kabir Hassan and Yusuf Sidani PART IV: ISLAMIC SYSTEMS 17. Islamic Banks and Economic Development Monzer Kahf 18. Islamic Methods for Government Borrowing and Monetary Management M. Fahim Khan 19. Accounting Standards for Islamic Financial Services Simon Archer and Rifaat Ahmed Abdel Karim 20.Mutualization of Islamic Banks Mahmoud El-Gamal 21. Challenges Facing the Islamic Financial Industry M.U. Chapra PART V: GLOBALIZATION OF ISLAMIC BANKING 22. International Islamic Financial Institutions Munawar Iqbal 23. Islamic Financial Centres Ricardo Baba 24. Islamic Banking and the Growth of Takaful Mohd. Ma’sum Billah 25. Islamic Banking in the West Rodney Wilson Index

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