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Finance Flap copy "Muhammad Ayub has provided the most comprehensive treatment to date of the contracts, products and systems used in Islamic finance. He explores how the concepts are rooted in the Islamic economic system in a way that will appeal to academics while at the same time giving a coherent account of the products that finance practioners should find helpful.

This detailed compilation of the views of the four majority jurisprudential schools of thought in Islam on matters relating to financial transactions, presented and explained in clear language and applied to contemporary developments in Islamic banking and finance, is highly useful to students and practitioners of Islamic finance. The book is of particular significance for financial engineers who wish to design financial instruments compatible with the requirements of Islamic jurisprudence" --Dr Abbas Mirakhor, Executive Director, IMF Washington DC "Understanding Islamic Finance is the fruit of many years of hard work by the author based on his understanding of Islamic law and the principles of Islamic economics.

Islamic economic system being a rule-base system can be understood very well when viewed as a set of contracts. Therefore, this book provides the vital bridge between the legal foundation and the theory of economic and financial systems in Islam. This bridge helps the reader better understand Islamic finance. This book is not only an important text for all banks and financial institutions entering this particular market with a commitment to building Islamic financial solutions, but is also essential reading for undergraduate and postgraduate students of Islamic finance.

Suggested Further Reading. Besides contributing a large amount of material, he has been serving as Master Trainer on theory and practice of Islamic finance. This, along with his association with various Commissions set up from time to time on application of Islamic banking system, has lent him a pragmatic and balanced approach, a prerequisite for presenting such a book.


Understanding Islamic Finance (The Wiley Finance Series)

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Understanding Islamic Finance


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