Islamic Finance: Law and Practice

Hardcover | April 22, 2012

EditorHamid Yunis

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This work is a practical and commercial guide to the fundamental principles of Islamic finance and their application to Islamic finance transactions. Islamic finance is a rapidly expanding, global industry and this book is designed to provide a practical treatment of the subject. It includesdiscussion and analysis of the negotiation and structure involved in Islamic finance transactions, with relevant case studies, structure diagrams and precedent material supporting the commentary throughout. An introductory section describes the theoretical background and explains the principles (and their sources) of Islamic law which underpin Islamic finance practices, providing an important backdrop to the work as a whole. The work also considers the role of Shariah supervisory boards, Islamicfinancial institutions and the relevance of accounting approaches.The work adopts an international perspective to reflect the pan-global nature of the industry and accepted practices, with the aim to bring together different schools of thought applied in international Islamic finance transactions. It also highlights any regional differences in accepted practice byreviewing the position in the Gulf states, Asia, the UK and Europe and the USA.The second part of the book concentrates on Islamic financial law in practice and begins with a section on financial techniques. This section explains the basic requirements for Islamic finance contracts both in terms of the underlying asset types and also both the applicability and acceptability ofthe underlying asset. There is a full discussion of the various types of contractual models such as Mudaraba (trustee finance), Musharaka (partnership or joint venture), Murabaha (sale of goods), and Sukuk (participation securities: coupons etc). The nascent area of Takaful (insurance) is alsocovered as are matters specific to the important field of project and asset finance.

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This work is a practical and commercial guide to the fundamental principles of Islamic finance and their application to Islamic finance transactions. Islamic finance is a rapidly expanding, global industry and this book is designed to provide a practical treatment of the subject. It includesdiscussion and analysis of the negotiation an...

Hamid Yunis is a senior partner in the Finance and Projects department at Taylor Wessing, and leads the Islamic Finance practice. He advises the Islamic Financial Services Board, which is the leading global standard setting body for the industry.
Format:HardcoverDimensions:500 pages, 9.69 × 6.73 × 0.01 inPublished:April 22, 2012Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199566941

ISBN - 13:9780199566945

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Table of Contents

A. Introduction1. Current Status of the Global Islamic Finance Industry2. Source and Principles of Islamic Law in relation to Finance3. Islamic Financial Institutions4. Accounting Approaches5. Corporate Governance for Institutions offering Islamic Financial Services6. Shariah Supervisory Boards7. Commentary on the Global LandscapeB. Islamic Law and Contracts in Practice8. Financial Techniques9. Types of Contractual Models10. Takaful (Insurance)11. Other Key Legal and Structural Aspects12. Project and Asset Finance13. Conclusion