This book is written with a clear focus on learning of Islamic banking by accounting, business and finance students/professionals. Resources available on the subject have so for focused on legal side and very negligible work is available on financial front for a common user. This book is written in financial perspective and author has focused upon financial impacts, generated by application of Islamic financial laws. However a summary of Islamic commercial laws of each chapter has been provided. Author has adopted balance sheet method to inculcate the knowledge; hence, understanding of elementary balance sheet is pre-requisite to get maximum out of this book.
This book is divided into five parts. Part-1 presents update on Islamic banking, why and how Islamic banking started? What is current status? Meaning and prohibition of Riba (Interest) as reported in revealed books (Bible and Qura'n). Part two is about asset backed financing provided by IFIs. It includes trading (selling) modes of financing including Murabaha, Salam and Istisna'a; it also includes Ijara financing. At the start of part two, summary of Sharia rulings about sales is reported.
This book is divided into five parts. Part-1 presents update on Islamic banking, why and how Islamic banking started? What is current status? Meaning and prohibition of Riba (Interest) as reported in revealed books (Bible and Qura'n). Part two is about asset backed financing provided by IFIs. It includes trading (selling) modes of financing including Murabaha, Salam and Istisna'a; it also includes Ijara financing. At the start of part two, summary of Sharia rulings about sales is reported.
