Islamic Finance Fundamentals WITH APPLICATIONS IN MALAYSIA

• Main Authors: Shahriza Osman (Author), Zahiruddin Ghazali (Author), Syed Mohd Na'im Syed Salim (Author)
• Format: Book
• Language: English
• Published: Sintok, Kedah UUM Press 2016
• Subjects: Finance > Religious aspects > Islam > Malaysia; Banks and banking > Religious aspects > Islam > Malaysia; Economic development > Religious aspects > Islam; Government publications > Malaysia
• Online Access: Click Here to View Status and Holdings.

 Islam postulates a unique link of contracts among the creator, man and society on the basis of Syariah Law that directly affects the workings of the various social, political, economic, and financial systems. therefore, to understand the way in which economic affairs and financial institution are organized in an islamic system, it is first necessary to comprehend the nature of this relationship. Consequently,one cannot study a particular aspect or part of an Islamic system, economics,for example,in isolation,without having understanding of the basic knowledge of Islamic finance. Islamic finance products are contract-based. This book explains Islamic finance,which refers to the provision of financial services in accordance with Syariah Law in chapter one. The Syariah Law is the foundation for the establishment of an Islamic banking system. Chapter two illustrates the differences between the principles of Syariah and Tabii'. Chapter three explains the Islamic theory of profit. Chapter four is about risk and uncertainty, which is known as gharar in Islamic finance. Chapter five discusses interest/riba, which is the most signifinance principle of Islamic banking. Chapter six explains some of the financial issues related to Islamic banking.