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Contemporary Islamic Finance

Contemporary Islamic Finance Innovations, Applications and Best Practices

Author: Karen Hunt-Ahmed
Publisher: John Wiley & Sons
ISBN: 9781118180907
Published In: January 2013
Format: Hardback , 388 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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A comprehensive look at the innovations, applications, and best practices of Islamic finance

Islamic-compliant finance is transacted in every major world financial center, and the need for information on the topic in light of its global reach has grown exponentially. As an expert in this field, author Karen Hunt-Ahmed understands the intricacies of this area of the capital markets. Now, along with the help of a number of experienced contributors, she skillfully addresses Islamic finance from the perspective of practitioners, examining issues in wealth management, contract law, private equity, asset management, and much more.

Engaging and accessible, Contemporary Islamic Finance skillfully explains the practices and innovations of Islamic finance in everything from banking and real estate to private equity, asset management, and many other areas. It is intended to be the go-to resource for both Muslims as well as non-Muslims with an interest in the subject. Divided into three comprehensive parts, it will put you in a better position to understand, and excel at, this important endeavor.
- Introduces you to the history, legal structures, and basic financial contracts in the industry
- Highlights the various issues facing contemporary Islamic finance practitioners, and details their significance in the contemporary financial and cultural environment
- Includes case studies of United States-based transactions and related challenges and successes
Filled with in-depth insights and expert advice, this detailed analysis of Contemporary Islamic Finance will help you gain a firm understanding of how effective this proven approach can be.
Acknowledgments

Chapter 1: Introduction

Islamic Finance in the World Economy
Karen Hunt-Ahmed, PhD

Part I: The Contemporary Islamic Finance Landscape

Chapter 2: Contemporary Islamic Economic Thought
Mohammad Omar Farooq

Chapter 3: The Legal Framework of Islamic Finance
Cynthia Shawamreh

Chapter 4: Globalization and Islamic Finance Flows and Consciousness
Karen Hunt-Ahmed, PhD

Chapter 5: Islamic Science and the Critique of Neoclassical Economic Theory
Waleed El-Ansary

Chapter 6: Juristic Disagreement The Collective Fatw? Against Islamic Banking in Pakistan
Shoaib A. Ghias

Chapter 7: Managing Liquidity Risk in Islamic Finance
Dr. Mohammed Bashir

Chapter 8: Elements of Islamic Wealth Management
Paul Wouters

Chapter 9: Suk?k and the Islamic Capital Markets

An Introduction
Michael J.T. McMillen*

Chapter 10: Shari?a Compliant Mutual Funds
Monem Salam

Chapter 11: The Evolution of Shariah Compliant Indexes and Why They Outperform Conventional Indexes Over the Long Term
By Tariq Al-Rifai

Chapter 12: Takaful
Farrukh Siddiqui

Chapter 13: Islamic Human Resources Practices
William Martin

Chapter 14: An Integrated Islamic Poverty Alleviation Model
Ali Ashraf, M. Kabir Hassan

Chapter 15: How Does an Islamic Microfinance Model Play the Key Role in Poverty Alleviation?

The European Perspective
Sabur Mollah, PhD and MD. Hamid Uddin, PhD

Part II: Case Studies

Chapter 16: Islamic Finance in an Almost Post-Crisis and Post-Revolutionary World

As in Politics, all Islamic Finance is Local
Mark Smyth

Chapter 17: Stepping Forward, Backward, or Just Standing Still?

A Case Study in Shifting Islamic Financial Structures Offshore
Umar F. Moghul

Chapter 18: Islamic Mortgages
By David Loundy

Chapter 19: Sharia Quality Rating
Nasir Ali Merchant

Chapter 20: Islamic Mutual Funds Performance in Saudi Arabia
Hesham Merdad and M. Kabir Hassan

Chapter 21: Shari?ah-Compliant Investment in the United States
John L. Opar

Chapter 22: Risk Management in Islamic Finance

A Shariah Analysis of Derivatives Instruments
Dr. Mohammed Bashir

Chapter 23: Islamic Microfinance
Blake Goud

About the Editor

Index
Dr. KAREN HUNT-AHMED is a lecturer at DePaul University. She is currently teaching Islamic finance, microfinance, management, and business ethics. Dr. Hunt-Ahmed is also a Faculty Fellow of DePaul's Egan Urban Center as well as the president of the Chicago Islamic Microfinance Project, a not-for-profit economic development organization that provides Shari'ah-compliant microcredit to entrepreneurs in Chicago. Her research interests include culture and identity, financial empowerment, Islamic finance, microfinance, and the socialization of economic behavior. Dr. Hunt-Ahmed has worked in the banking sector in Chicago and in private equity in Dubai, United Arab Emirates. She received her BA and MBA from Washington University in St. Louis and her PhD from the University of Chicago. Dr. Hunt-Ahmed lives in Wilmette, Illinois, and enjoys karate. She lived in Dubai for many years and has traveled extensively in the Middle East, Pakistan, Africa, and Europe.