Share:

Category Books

Islamic Banking »

Authors: Mervyn K. Lewis, Latifa M. Algaoud
ISBN-13: 9781858988085, ISBN-10: 185898808X
Format: Hardcover
Publisher: Elgar, Edward Publishing, Inc.
Date Published: August 2001
Edition: (Non-applicable)

Author Biography: Mervyn K. Lewis

Book Synopsis

Like bumble bees that cannot possible fly, Islamic banks cannot possibly thrive, because Islam does not allow charging interest. Lewis (banking, U. of South Australia) and Algaoud, Chief of Training and Development at the Ministry of Finance and National Economy of Bahrain explain that the operations of Islamic financial institutions are primarily based on a principle of sharing profit and loss. Rather than charging interest, banks participate in the yield resulting from the use of funds that are loaned, and depositors share in the profits of the bank according to a predetermined ratio. Thus a relationship develops between the bank and both types of customers. They explore the implications of such a foundation.

Annotation © Book News, Inc., Portland, OR

	List of figures
	List of tables
	Foreword
	Glossary
1	An introduction to Islamic banking	1
2	Islamic law	16
3	The basis of Islamic banking	34
4	Islamic banking and financial intermediation	62
5	Islamic financial systems	88
6	Islamic banking in mixed systems	119
7	Corporate governance in Islamic banking	158
8	Islamic and Christian attitudes to usury	185
9	Directions in Islamic finance	211
10	Conclusion	240
	References	247
	Index	267