Edited by Mohamed Ariff, Chair of Economics and Finance, Sunway University, Malaysia and Munawar Iqbal, Professor, King Abdul Aziz University, Saudi Arabia and Chief of Research, IRTI, Islamic Development Bank

• Contents:Preface1. Introduction to Islamic Financial InstitutionsMohamed Ariff and Munawar Iqbal PART I: FOUNDATIONS OF ETHICAL FINANCIAL TRANSACTIONS2. Ethics-based Financial Transactions: An Assessment of Islamic BankingMohamed Ariff3. Ethical Principles in Islamic Business and Banking TransactionsMervyn K. Lewis4. Adapting Understanding of Riba to Islamic Banking: Some DevelopmentsAbdullah SaeedPART II: ISLAMIC BANKING PRINCIPLES, REGULATIONS AND GOVERNANCE 5. Development, History and Prospects of Islamic BankingMunawar Iqbal6. Development of Legal Issues of Corporate Governance for Islamic BankingIshaq Bhatti and Maria Bhatti7. Corporate Governance and Islamic BanksMichael T. Skully PART III: THE PRACTICE: OPERATING ISLAMIC FINANCIAL INSTITUTIONS8. Performance of Islamic Banks and Conventional BanksMohamed Ariff, Mohammad K. Badar, Shamsher M. and Taufiq Hassan 9. Shari’ah-consistent Investment Vehicles in MalaysiaKabir Hassan and Eric Girard10. Takaful Insurance: Concept, History and Development ChallengesSyed Othman Alhabshi and Shaikh Hamzah Razak PART IV: A DEBATE ON THE ISSUE OF REWARD FOR PARTING WITH CAPITAL11. Usury and its Critics: From the Middle Ages to ModernityConstant Mews and Adrian Walsh12. Riba and Interest in Islamic Banking: An Historical ReviewRaquib Zaman13. Tensions in Christian Financial Ethics: An Historical OverviewIbrahim AbrahamPART V: EDUCATION AND PROFESSIONAL BANKING ACCREDITATION14. Human Capital Development in Islamic Finance: Initiatives and ChallengesSyed Hamid AljunidIndex

’This wide-ranging guide to the foundations and fundamental principles of this new form of ethics-based financial practice will be of interest for regulators, practitioners, and scholars in the fields of economics, finance, money and banking.’

Edited by Mohamed Ariff, Chair of Economics and Finance, Sunway University, Malaysia and Munawar Iqbal, Professor, King Abdul Aziz University, Saudi Arabia and Chief of Research, IRTI, Islamic Development Bank

• Contents:Preface1. Introduction to Islamic Financial InstitutionsMohamed Ariff and Munawar Iqbal PART I: FOUNDATIONS OF ETHICAL FINANCIAL TRANSACTIONS2. Ethics-based Financial Transactions: An Assessment of Islamic BankingMohamed Ariff3. Ethical Principles in Islamic Business and Banking TransactionsMervyn K. Lewis4. Adapting Understanding of Riba to Islamic Banking: Some DevelopmentsAbdullah SaeedPART II: ISLAMIC BANKING PRINCIPLES, REGULATIONS AND GOVERNANCE 5. Development, History and Prospects of Islamic BankingMunawar Iqbal6. Development of Legal Issues of Corporate Governance for Islamic BankingIshaq Bhatti and Maria Bhatti7. Corporate Governance and Islamic BanksMichael T. Skully PART III: THE PRACTICE: OPERATING ISLAMIC FINANCIAL INSTITUTIONS8. Performance of Islamic Banks and Conventional BanksMohamed Ariff, Mohammad K. Badar, Shamsher M. and Taufiq Hassan 9. Shari’ah-consistent Investment Vehicles in MalaysiaKabir Hassan and Eric Girard10. Takaful Insurance: Concept, History and Development ChallengesSyed Othman Alhabshi and Shaikh Hamzah Razak PART IV: A DEBATE ON THE ISSUE OF REWARD FOR PARTING WITH CAPITAL11. Usury and its Critics: From the Middle Ages to ModernityConstant Mews and Adrian Walsh12. Riba and Interest in Islamic Banking: An Historical ReviewRaquib Zaman13. Tensions in Christian Financial Ethics: An Historical OverviewIbrahim AbrahamPART V: EDUCATION AND PROFESSIONAL BANKING ACCREDITATION14. Human Capital Development in Islamic Finance: Initiatives and ChallengesSyed Hamid AljunidIndex

’This wide-ranging guide to the foundations and fundamental principles of this new form of ethics-based financial practice will be of interest for regulators, practitioners, and scholars in the fields of economics, finance, money and banking.’

Edited by Mohamed Ariff, Chair of Economics and Finance, Sunway University, Malaysia and Munawar Iqbal, Professor, King Abdul Aziz University, Saudi Arabia and Chief of Research, IRTI, Islamic Development Bank

• Contents:Preface1. Introduction to Islamic Financial InstitutionsMohamed Ariff and Munawar Iqbal PART I: FOUNDATIONS OF ETHICAL FINANCIAL TRANSACTIONS2. Ethics-based Financial Transactions: An Assessment of Islamic BankingMohamed Ariff3. Ethical Principles in Islamic Business and Banking TransactionsMervyn K. Lewis4. Adapting Understanding of Riba to Islamic Banking: Some DevelopmentsAbdullah SaeedPART II: ISLAMIC BANKING PRINCIPLES, REGULATIONS AND GOVERNANCE 5. Development, History and Prospects of Islamic BankingMunawar Iqbal6. Development of Legal Issues of Corporate Governance for Islamic BankingIshaq Bhatti and Maria Bhatti7. Corporate Governance and Islamic BanksMichael T. Skully PART III: THE PRACTICE: OPERATING ISLAMIC FINANCIAL INSTITUTIONS8. Performance of Islamic Banks and Conventional BanksMohamed Ariff, Mohammad K. Badar, Shamsher M. and Taufiq Hassan 9. Shari’ah-consistent Investment Vehicles in MalaysiaKabir Hassan and Eric Girard10. Takaful Insurance: Concept, History and Development ChallengesSyed Othman Alhabshi and Shaikh Hamzah Razak PART IV: A DEBATE ON THE ISSUE OF REWARD FOR PARTING WITH CAPITAL11. Usury and its Critics: From the Middle Ages to ModernityConstant Mews and Adrian Walsh12. Riba and Interest in Islamic Banking: An Historical ReviewRaquib Zaman13. Tensions in Christian Financial Ethics: An Historical OverviewIbrahim AbrahamPART V: EDUCATION AND PROFESSIONAL BANKING ACCREDITATION14. Human Capital Development in Islamic Finance: Initiatives and ChallengesSyed Hamid AljunidIndex

’This wide-ranging guide to the foundations and fundamental principles of this new form of ethics-based financial practice will be of interest for regulators, practitioners, and scholars in the fields of economics, finance, money and banking.’