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The Stability of Islamic Finance: Creating a Resilient Financial Environment for a Secure Future

Overview

This new book by a group of four Western-trained Islamic economists is greatly welcomed. It builds on and extends their earlier work on the topic and will become essential reading for all those with an interest in the economic implications of Islamic finance. The Stability of Islamic Finance develops themes that link Islamic finance to existing traditions in economics; that assess the stability properties of Islamic financial instruments, and that explain some of the key Islamic concepts in economists' terms. It will be an invaluable source for those who want to know more about the nature of the financial instruments that go to make up an Islamic financial system, and to understand how an Islamic financial system might work in a twenty-first century context. It is a provocative and insightful assessment of the economic properties of Islamic finance that deserves to be read and reflected on by Islamic and non-Islamic economists alike.
Sir Andrew Crockett
President, JPMorgan Chase International
Former General Manager, The Bank for International Settlements (BIS)

In recent years, Islamic finance has evolved from a tiny "cottage" industry to an increasingly important and respected component of global finance. The industry has developed common standards and practices, and has attracted the interest of issuers and investors outside the Muslim community. Yet, its economics and implications for financial stability are generally not well understood. The authors make an important contribution to our understanding of the industry by linking its foundations not only to the teachings of Islam, but also to classical Western economic thought. The authors also provide a convincing analysis of the structural weaknesses of conventional finance, and of the role of monetary policy in causing misallocation of resources and boom-and-bust cycles. In the process, they make a case for the inherent stability and efficiency of Islamic finance. The book is scholarly, insightful, original in scope and highly readable. |||This book is sold in the US by Sony Electronics Inc. |||This book is sold in Canada by Sony Electronics Inc.

Author Information

Zamir Iqbal

DR. ZAMIR IQBAL works as Lead Investment Officer with the Quantitative Strategies, Risk and Analytics department in the Treasury of the World Bank in Washington, D.C. He earned his Ph.D. in International Finance from the George Washington University, where he also serves as adjunct faculty of International Finance. He has published numerous articles and presented at international forums on Islamic finance. He has extensive experience with capital markets, structured products, risk management, financial sector development, and financial modeling. His research interests include Islamic Finance, Financial Engineering, Structured Finance and International Banking. He is co-author of Introduction to Islamic Finance: Theory and Practice (2007), Risk Analysis for Islamic Banks (2007), and New Issues in Islamic Finance and Economics: Progress and Challenges (2009).

Mirakhor, Abbas

No bio available for Mirakhor, Abbas.

Noureddine Krichenne

No bio available for Noureddine Krichenne.

Hossein Askari

PROF. HOSSEIN ASKARI received a B.S. in CivilEngineering, Ph.D. in Economics and attendedthe Sloan School of Management at theMassachusetts Institute of Technology (MIT). Hewas an instructor of Economics at MIT, AssistantProfessor of Economics at Tufts University,Associate Professor of Economics at Wayne State University, Associate Professor and Professor of International Business and Middle Eastern Studies at the University of Texas at Austin and is now the Iran Professor of International Business and Professor of International Affairs at the George Washington University. He served for two and a half years on the Executive Board of the IMF and was Special Advisor to the Minister of Finance of Saudi Arabia. In the mid-1980s he was the director of a multinational team that developed the first energy plan and energy planning models for Saudi Arabia. He has written extensively on economic development in the Middle East, international trade and finance, agricultural economics, oil economics, and on economic sanctions. He has been an advisor to a number of governments,institutions and corporations.

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Product Details

  • Published by

    Wiley

  • Publish Date

    March 01, 2010 

  • Print ISBN

    9780470825193

  • eBook ISBN

    9781118178935

  • Imprint

    Wiley

  • Filesize

    2.10 MB

  • Number of Print Pages*

    256

* Number of eBook pages may differ. Click here for more information.