Full Description
Demand for Sharia-compliant finance and an increasing alignment between Islamic finance and the global ethical finance movement has led to unprecedented and accelerating growth within the sector. This is evidenced not only by the Islamic finance market's size, but also by the growing number of Islamic finance providers beyond banks, and the increasing diversity of products and services. Sharia-compliant funds and takaful (Islamic insurance) have emerged as substantial markets in their own right. Technology has played its part in that evolution and with the exponential growth of artificial intelligence (AI) has come increasing awareness of the ethics of finance.
Today, Islamic finance attracts sovereigns, financial institutions, multinationals, corporates and customers across the retail spectrum who are looking to access Islamic liquidity across sukuk (Islamic bonds), corporate, retail, acquisition, funds, development and project financings.
This third edition features fully updated, insightful chapters by leading Islamic finance practitioners and analyses market trends, key developments and structures for sukuk, syndications, funds, takaful, project financing and Islamic liquidity management. New to this edition are chapters on fintechs, AI ethics and derivatives.
Islamic Finance: A Practical Guide makes essential reading for anyone already engaged in Islamic financing transactions as well as those interested in gaining an understanding of the Islamic finance market and the structures underpinning the world's fastest-growing finance sector.
Contents
Preface 5
Rahail Ali
Hogan Lovells
Part I. Islamic finance overview
Islamic finance: an introduction to the market and key principles 7
Rahail Ali
Hogan Lovells
Legal issues and standards in Islamic finance 17
Rahail Ali
Hogan Lovells
The Divine and the digital: Islamic finance and AI 33
Muhammad Ali Hashmi
Semantic Blue
Part II. Equity and funds
An overview of Islamic asset management 41
Imtiaz Shah
Hogan Lovells
Sharia screening and Islamic equity indexes 53
Kamal MA Mian
Fast Cables Limited
Part III. Finance
Islamic finance facility markets 73
Rahail Ali
Hogan Lovells
Islamic project finance 89
Shibeer Ahmed
Greenberg Traurig
Islamic derivatives 111
Michel Abi Saab
Daniel Smith
A&O Shearman
Islamic fintech: bridging Islamic and regulatory frameworks 127
Mustafa Kamal
Zarei & Hamdan Law Firm
Abdullah Qureshi
Hourani & Partners
Part IV. Capital markets
Islamic finance documentation 145
Rahail Ali
Hogan Lovells
The global sukuk market and legal structuring considerations 167
Rahail Ali
Hogan Lovells
Part V. Insurance
Takaful and conventional insurance: a comparative overview 175
Michael Kortbawi
Rima Mrad
BSA Ahmad Bin Hezeem & Associates LLP
Islamic mutual insurance an overview 199
Omar Fisher
Takaful expert, business builder and educator
Part VI. Regulation
Malaysia and GCC regulation: comparisons and contrasts 217
Mustafa Kamal
Zarei & Hamdan Law Firm
About the authors 227
About Globe Law and Business 231
