Frequently Asked Questions in Islamic Finance PDF
Preview Frequently Asked Questions in Islamic Finance
Frequently Asked Questions in Islamic Finance Previously Published Titles by the Author Islamic Capital Markets∗ Introduction to Islamic Banking and Finance∗ Islamic Sukuk: a Definitive Guide to Islamic Structured Finance∗ Islamic Banking and Finance in the Kingdom of Bahrain, the Bahrain Monetary Agency Financial Economics, Financial Times-Prentice Hall. Economics for Financial Markets, Butterworth-Heinemann What Drives Financial Markets? Financial Times-Prentice Hall What Drives the Currency Markets? Financial Times-Prentice Hall Fed Watching: The Impact of the Fed on the World’s Financial Markets, Financial Times-Prentice Hall The Valuation of Internet and Technology Stocks, Butterworth-Heinemann The International Debt Game: a Study in International Bank Lending (Co-author), Graham and Trotman A Businessman’s Guide to the Foreign Exchange Market, Graham and Trotman Monetary Economics, Graham and Trotman Foreign Exchange Handbook, (Co-author), Graham and Trotman Gold: An Analysis of its Role in the World Economy, Graham and Trotman The Finance of International Business, Graham and Trotman ∗Available from the author at [email protected] Frequently Asked Questions in Islamic Finance Brian Kettell A John Wiley and Sons, Ltd., Publication This edition first published 2010 © 2010 Brian Kettell Registered office John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom For details of our global editorial offices, for customer services and for information about how to apply for permission to reuse the copyright material in this book please see our website at www.wiley.com. A John Wiley & Sons, Ltd. Publication The right of the author to be identified as the author of this work has been asserted in accor dance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by the UK Copyright, Designs and Patents Act 1988, without the prior permission of the publisher. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. Designations used by companies to distinguish their products are often claimed as trademarks. All brand names and product names used in this book are trade names, service marks, trade marks or registered trademarks of their respective owners. The publisher is not associated with any product or vendor mentioned in this book. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold on the under standing that the publisher is not engaged in rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional should be sought. A catalogue record for this book is available from the British Library. ISBN 978-0-470-74860-2 Typeset in 9/10.5 Cheltenham-Book by Laserwords Private Limited, Chennai, India. Printed in Great Britain by TJ International Ltd, Padstow, Cornwall. To my wife Nadia, our son Alexei and daughter Anna. Nadia keeps the whole fleet on an even keel with only the occasional shipwreck. Contents Preface xiii Introduction xvii 1 The Islamic Banking Timeline (1890–2010) 1 2 Frequently Asked Questions 9 3 Why is Interest (Riba) Forbidden to Muslims? 99 4 Derivatives and Islamic Finance 113 5 How do you Establish an Islamic Bank? 123 6 Islamic Banking and Finance Qualifications 157 7 How Much Arabic do you Need to Know to Work in the Industry? 221 8 Test Your Knowledge 261 9 Further Reading 269 Crossword 289 Appendix Answers to Chapter 8 Test Your Knowledge 291 Index 299
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