Mastering Islamic Finance

Table of contents

1. Cover
2. Title page
3. Contents
4. About the author
5. Publisher’s acknowledgements
6. Author’s acknowledgements
7. Part 1 BACKGROUND
   1. 1 The Islamic finance phenomenon
      1. Introduction
      2. The Islamic finance phenomenon
      3. Why does Islamic finance exist?
      4. Why is Islamic finance a sizeable and growing market?
      5. Key challenges facing the industry
      6. Conclusion
   2. 2 Islam – key beliefs, principles and practices
      1. Introduction
      2. Belief system
      3. Key practices – the five pillars of action
      4. Importance of the Qur’an and the Sunnah
      5. Interpretation of the sharia
      6. The role of scholars and sharia supervisory boards in Islamic finance
      7. Conclusion
   3. 3 How Islamic finance differs from conventional banking
      1. The Islamic economic model
      2. Key Islamic finance principles
      3. Conclusion
   4. 4 Valid commercial contracts in Islamic finance
      1. Introduction
      2. Key conditions for validity of contracts
      3. Integrity of contractual arrangements
      4. Status and use of promises
      5. Conclusion
8. Part 2 ISLAMIC FINANCE IN PRACTICE
   1. 5 Key transaction types in Islamic finance
      1. Introduction
      2. Equity-type: transactions
      3. Mudarabah (Partnership – one party contributes capital)
      4. Musharakah (Partnership – all parties contribute capital)
      5. Asset finance:
      6. Murabaha (Sale of an asset at a known profit mark-up)
      7. Ijarah (Leasing of an asset)
      8. Istisn’a (Sale of an item to be constructed or manufactured)
      9. Salam (Sale of fungible item yet to be produced)
      10. Other key transaction types:
      11. Wakala (Agent providing services to a Principal)
      12. Hawalah (Transferring a debt)
      13. Rahn (Providing security)
      14. Kafalah (Providing a guarantee)
      15. Conclusion
   2. 6 Sukuk
      1. Introduction
      2. Definition
      3. Mechanics of a sukuk transaction
      4. Types of sukuk
      5. Asset-based versus asset-backed sukuk
      6. Sukuk and the secondary market
      7. A strong future for sukuk
      8. Conclusion
   3. 7 Sharia-compliant investments and wealth management
      1. Introduction
      2. Sharia-compliant investments
      3. Zakat by Iqbal Nasim
      4. Sharia-compliant estate distribution and Islamic wills by Haroon Rashid
      5. Conclusion
   4. 8 Takaful – Islamic insurance
      1. Introduction
      2. Sharia perspective on conventional insurance
      3. Takaful – the Islamic alternative
      4. Takaful models
      5. Types of takaful policy
      6. The future of the takaful industry
      7. Conclusion
   5. 9 The future of Islamic finance
      1. Introduction
      2. Recommendations for success by IFSB and IDB/IRTI
      3. Opinion pieces
      4. The Christian view of usury by Robert Van de Weyer
      5. The future of Islamic finance by Dr Sayd Farook
      6. The secret to long-term success: get the direction of travel right by Faizal Karbani
9. Index
10. Endorsements
11. Imprint