Islamic Financial Industry Collection Guide  

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Publisher: National Library Board Singapore, 2008
Type: Bibliography
File Details: 870kb/pdf

The Islamic banking and finance industry is gaining prominence on a global scale. Regarded as a lucrative alternative to conventional banking and finance, it is no longer confined to the Muslim world. Secular economies such as Hong Kong and Singapore are looking to get their fingers in the pie and develop the industry locally. Some major financial institutions have added Islamic financial products and services to their suite of existing products and services.

Governed by the principles of Shari’ah (Islamic law), Islamic banking and finance differ from conventional banking and finance in three broad respects. Firstly, riba (usury or the charging of interest) is prohibited. Secondly, gharar (uncertainty or speculation) is disallowed. Thirdly, there should be no dealings with businesses involving forbidden products or activities (such as pork, alcohol and gambling). The knowledge of these differences inadvertently raises questions in one’s mind about the ability to profit from Islamic banking and finance. However, ways to take advantage of these rules have been implemented to create the profitable Islamic financial products and services available today.

Rather than being entirely new, Islamic financial products and services are the result of the modification of conventional financial products and services in accordance with the principles of Shari’ah. This has garnered criticism on them being Islamicised rather than Islamic. Criticism aside, it is undeniable that the Islamic banking and finance industry will only grow in importance as time passes. There are also many challenges that await it on the road ahead.

This resource guide presents books, databases, articles, and websites for all interested in learning more about Islamic banking and finance, be they researchers, students, businessmen or the man on the street.

Overview
· What is Islamic Banking and Finance?
· Islamic Jurisprudence and Syariah Law
The featured resources provide an overview of Islamic banking and finance, Islamic jurisprudence and Shari’ah.


Past, Present and Future
· Development and Challenges
· Prospects
The featured resources examine the developments and challenges in the Islamic financial industry as well as its future prospects.


Practices
· Practices, Products and Services
The featured resources provide an insight into the practices, products and services in Islamic banking and finance.


Major Institutions, Country / Regional Focus
The featured resources highlight major institutions in Islamic banking and finance as well as examine the industry in the context of various countries and regions.

By Elizabeth Lam and Nor Aishah Binte Mohamed Rashid, Lee Kong Chian Reference Library

For further assistance, please email: ref@nlb.gov.sg or SMS: +65 9178 7792.

All rights reserved. National Library Board 2008