Islamic Finance in the Global Economy

Islamic finance has been growing at rates exceeding 20% a year and is now a $200 billion industry, with operations in over 70 countries. This book explains the paradox of a system rooted in the medieval era thriving in the global economy.Coverage is exhaustively comprehensive, defining Islamic finance in its broadest sense to include banks, mutual funds, securities firms and insurance companies. The author places Islamic finance in the context of the global political and economic system and covers core issues including the moral economy of Islam, differences between countries such as Pakistan, Iran, the Sudan and Malaysia, and religious issues and challenges.This second edition has been completely revised and updated to take into account the great changes and developments in the field in recent times.Key Features*Traces the evolution of Islamic finance*Explores its significance from a historical and comparative perspective*Considers the strategic, marketing, managerial, political, economic, regulatory and cultural challenges faced by Islamic institutions