Islamic Banking and finance: New Perspectives on Profit-Sharing And Risk.
Edited by Munawar Iqbal and David T Llewellyn Published by Edward Elgar publishing ISBN 1 84064787 6 272 price 59.95 [pounds sterling] hardback
It is a well-known fact that conventional commercial banks provide financial intermediation services on the basis of interest rates on assets
Islamic Banking and Finance discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit-sharing (as opposed to debt-based) contracts are highlighted, and the ways in which they can facilitate improved efficiency and stability of a financial system are explored.
The book notes that in addition to some 200 Islamic banks operating in Muslim as well as non-Muslim countries, some of the biggest multinational banks are now offering Islamic financial products.
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