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A reference guide to shari’ah governance in Islamic finance as practised in 17 countriesComprehensive treatment of shari’ah governance in Islamic financeCase studies of shari’ah governance practices from 17 key Islamic finance hubs: Bahrain, Bangladesh, Egypt, India, Indonesia, Iran, Kenya, Kuwait, Malaysia, Morocco, Nigeria, Pakistan, Qatar, Saudi Arabia, Sudan, Turkey, UK and EuropePresents key debates surrounding shari’ah governance practices in Islamic finance and critical analysis by leading scholars of the fieldBrings indigenous knowledge of Islamic finance from around the world to a wider English-language audienceSets an agenda for researchers in the fields of Islamic studies and Islamic finance, and for other social scientists studying the area of Islam and financeWritten by a group of prominent shari’ah scholars, academics and practitioners in the field of Islamic finance, this book contains 17 in-depth case studies of shari’ah governance practices and experiences as well as critical analysis of these practices. It serves as a standalone comprehensive reference work on shari’ah governance, containing an overview of its Islamic legal foundations, its evolution and development over the years, current practices and debates on shari’ah governance standards and future prospects for shari’ah governance in the global Islamic finance market.ContributorsDr Dalal Aassouli Professor Datuk Rifaat Ahmed Abdel KarimMahmood Ahmad Dr. Abdur Rahman Yusri Sarwat Ahson Assoc. Prof. Dr. Syed Musa Alhabshi Ashraf Gomma Ali Samir Alamad Dr. Ahmed M. Alkhan Wachid Asad Hanaan Balala Dr. Zeynep Topaloglu Calkan Dr. Jamshaid Anwar Chattha Amin Mohseni-CheraghlouDr. Osama Al Deraie Dr. Fuaad Al-Dulaimi Dr. Mohammad Omar Umar Farooq Safiudin Ahmad Fuad Hafas Furqani Dr. Ebrahim Gamal Zulkifli Hasan Professor Dr. M. Kabir HassanUsman Hayat Dr. Walid Hegazy Rifki Ismal Ruma KhanamSohaib KhanProf. Dr. Mohamad Akram Laldin Dr. Tariqullah Khan Ishraga KhattabMuslehuddin Musab MohammedMarjan Muhammad Mohamed Nafeel Mahboob Shariq NisarUmar OseniDr. Aida Othman Dr Ali Mohi AlDin Al-Quradaghi Bahnaz A. Al-QuradaghiBeebee Salma SairallyWijdan TariqMd. Hafij UllahSiraj YasiniAmir Ahmad Zolfaghari

Finance (Islamic law).

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Islamic finance's phenomenal growth owes to the Shariah compliant nature of its financial instruments. Shariah forbids the charging of interest (Riba) and instead promulgates risk-sharing and trade-based modes of financing. The Islamic financial industry has been subject to both critique and admiration. Critics argue that Islamic instruments (bearing debt-based structures) differ from their conventional counterparts only in legal lexicon and not in economic impact. The admirers argue that such instruments, irrespective of wider economic implications, rigorously comply with 'juristically sound' Islamic principles. This book aims to reconcile the above dispute. It argues that the financial impact of instruments is a consequence of the way they are priced and structured. The similarity in pricing and structures is an outcome not of the underlying Islamic financial modes but of the competitive environment in which Islamic instruments compete. Even risk-sharing and trade-based Islamic structures, if implemented in such an environment, would have a financial impact similar to that of conventional instruments. This book has a wider appeal for both academic and non-academic audiences. It can complement undergraduate and graduate courses as an additional reading on the intricacies of Islamic financial instruments and markets. For PhD students, it would help identify future research areas. To non-academics, it offers a deeper understanding regarding the working of the Islamic finance industry.

Finance --- Finance (Islamic law) --- Religious aspects --- Islam.

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Crowd funding. --- Crowd financing --- Crowdfunding --- Finance --- Finance (Islamic law) --- Crowd funding --- Islamic law

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Estate planning--United States. --- Distribution of decedents' estates (Islamic law). --- Inheritance and succession (Islamic law).

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Income inequality has increased considerably in the aftermath of the financial crisis of 2007-08 to the extent that one percent of global population possess almost half of the global assets. Whereas the development community is unanimous to tackle growing inequality and imbalance in the distribution of wealth, there is a difference of opinion as to the approaches to achieve this goal. This report presents a perspective from Islamic finance on how shared prosperity can be enhanced. The theoretical framework for economic development by Islamic economics and finance is based on four fundamental pillars: (i) an institutional framework and public policy oriented to the development objectives of Islam; (ii) prudent governance and accountable leadership; (iii) promotion of the economic and financial system based on risk sharing; and (iv) financial and social inclusion for all, promoting development, growth, and shared prosperity. There is evidence that Islamic finance is experiencing high growth with the banking sector leading the way. Several countries are working seriously towards developing standards, regulation and legal frameworks for the development of Islamic finance. However, there are a number of aspects where policy interventions or improvements in policy effectiveness are needed to develop Islamic finance to promote shared prosperity. Without the enabling environment, Islamic finance may not be able to attain the potential expected of it. With adequate policy interventions and enabling financial infrastructure, Islamic finance could become a catalyst for alleviating poverty and inclusive prosperity.

Finance, Public --- Finance (Islamic law) --- Banks and banking --- Islamic countries.