Overview

This is a book for students seeking an introduction to Islamic banking. It covers both the theory and the practice of Islamic banking in enough detail to make it easy to read and interesting. Difficult concepts are clearly explained without being overpowered by mathematics, and it is a ""one-stop shop"" for information on Islamic banking. With case studies taken from Islamic to mixed systems the development of Islamic banking is thoroughly explored, with history and analysis complementing the more theoretical issues like the prohibition of interest.

Full Product Details

9781858988085

Table of Contents

Reviews

`Islamic Banking is an outstanding example of collaboration among Muslim and non-Muslim scholars interested in integrating Western-based literature with that developed in the Islamic tradition. . . . The book is a noteworthy addition to the literature on Islamic banking and finance, for its inclusion of modern intermediation and corporate governance analysis in Islamic banking sets it apart from other available books.' -- Muhammad Anwar, The American Journal of Islamic Social Studies `. . . the authors are outstanding in contextualizing the evolution of and demand for Islamic banking on its path through our common history. Careful explanation and detailed development help Western audiences understand the Arabic Islamic cultural perspective.' -- Wendy Carlton, Monthly Labor Review `Lewis and Algaoud present a comprehensive survey of Islamic banking . . . Recommended for anyone interested in the theory and practice of Islamic banking.' -- H. Zangeneh, Choice `This is an excellent book for any student seeking a comprehensive and well written introduction to Islamic banking. It covers both the theory and the practice of Islamic banking in just the right amount of detail to make it easy to read and interesting. Difficult concepts are clearly explained without the text being overpowered by mathematics as in so many other books these days. For anyone seeking a wide knowledge of Islamic banking, this book provides a one-stop shop . Every aspect of Islamic banking is explained in a straightforward and readily digestible fashion, from financial instruments, to financial systems, to the theory of financial intermediation and corporate governance. With case studies taken from fully Islamic to mixed systems the development of Islamic banking is thoroughly explored, with history and analysis complementing the more theoretical issues like the prohibition of interest. This book will certainly remain on my desk as an instant source of information on Islamic banking; I can commend it to all teachers, students and practising bankers interested in Islamic banking as indispensable.' -- John R. Presley, Loughborough University, UK `People are too inclined to regard their current institutions as the inevitable outcome of a natural evolutionary process. In respect of banking, it is salutary to note that Islamic banking works on a quite different, non-interest-bearing, basis from Western banking; and that several major religions, including Christianity, were in earlier times ethically opposed to interest/usury, but only Islam now keeps that faith. Professor Mervyn Lewis is a highly respected authority on (Western) banking and finance, and Latifa Algaoud is a senior official in Bahrain with a deep knowledge of Islamic banking institutions. Between them they present a highly readable assessment of Islamic banking from both (East/West) viewpoints, with a clear account of its history and principles, and its current position and state.' -- Charles Goodhart, London School of Economics, UK `Islamic banking has become a significant part of global banking. This is a very timely and well written book which successfully links the modern theories of conventional banking and financial intermediation and the theoretical and practical aspects of Islamic banking. By linking theory and practice, and setting Islamic banking in a wider analytical framework, the book will be invaluable to anyone with a theoretical, practical or regulatory interest in Islamic banking.' -- David T. Llewellyn, Loughborough University, UK

'Islamic Banking is an outstanding example of collaboration among Muslim and non-Muslim scholars interested in integrating Western-based literature with that developed in the Islamic tradition. ... The book is a noteworthy addition to the literature on Islamic banking and finance, for its inclusion of modern intermediation and corporate governance analysis in Islamic banking sets it apart from other available books.' -- Muhammad Anwar, The American Journal of Islamic Social Studies '... the authors are outstanding in contextualizing the evolution of and demand for Islamic banking on its path through our common history. Careful explanation and detailed development help Western audiences understand the Arabic Islamic cultural perspective.' -- Wendy Carlton, Monthly Labor Review 'Lewis and Algaoud present a comprehensive survey of Islamic banking ... Recommended for anyone interested in the theory and practice of Islamic banking.' -- H. Zangeneh, Choice 'This is an excellent book for any student seeking a comprehensive and well written introduction to Islamic banking. It covers both the theory and the practice of Islamic banking in just the right amount of detail to make it easy to read and interesting. Difficult concepts are clearly explained without the text being overpowered by mathematics as in so many other books these days. For anyone seeking a wide knowledge of Islamic banking, this book provides a one-stop shop . Every aspect of Islamic banking is explained in a straightforward and readily digestible fashion, from financial instruments, to financial systems, to the theory of financial intermediation and corporate governance. With case studies taken from fully Islamic to mixed systems the development of Islamic banking is thoroughly explored, with history and analysis complementing the more theoretical issues like the prohibition of interest. This book will certainly remain on my desk as an instant source of information on Islamic banking; I can commend it to all teachers, students and practising bankers interested in Islamic banking as indispensable.' -- John R. Presley, Loughborough University, UK 'People are too inclined to regard their current institutions as the inevitable outcome of a natural evolutionary process. In respect of banking, it is salutary to note that Islamic banking works on a quite different, non-interest-bearing, basis from Western banking; and that several major religions, including Christianity, were in earlier times ethically opposed to interest/usury, but only Islam now keeps that faith. Professor Mervyn Lewis is a highly respected authority on (Western) banking and finance, and Latifa Algaoud is a senior official in Bahrain with a deep knowledge of Islamic banking institutions. Between them they present a highly readable assessment of Islamic banking from both (East/West) viewpoints, with a clear account of its history and principles, and its current position and state.' -- Charles Goodhart, London School of Economics, UK 'Islamic banking has become a significant part of global banking. This is a very timely and well written book which successfully links the modern theories of conventional banking and financial intermediation and the theoretical and practical aspects of Islamic banking. By linking theory and practice, and setting Islamic banking in a wider analytical framework, the book will be invaluable to anyone with a theoretical, practical or regulatory interest in Islamic banking.' -- David T. Llewellyn, Loughborough University, UK

Author Information

Mervyn K. Lewis, Emeritus Professor, University of South Australia and Emeritus Fellow, Academy of the Social Sciences in Australia and Latifa M. Algaoud, formerly Chief of Training and Development, Ministry of Finance and National Economy, Bahrain

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