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An Introduction to Islamic Finance
By:Muhammad Taqi Uusmani,Muḥammad Taqī ʻUs̲mānī
Published on 2002 by BRILL

Although the principles of Shari'ah require banks and financial institutions to be structured on an interest-free basis, this does not mean that such institutions are charitable concerns. As long as a person advancing money expects to share in the profits earned (or losses incurred) by the other party, a stipulated proportion of profit is legitimate. The philosophy is enshrined in the traditional Islamic concepts of musharakah and mudarabah, along with their specialized modern variants murabahah, ijarah, salam, and istisna'. This guide to Islamic finance clearly delineates the all-important distinctions between Islamic practices and conventional procedures based on interest. Justice Usmani of Pakistan, who chairs several Shari'ah supervisory boards for Islamic banks, clearly explains the various modes of financing used by Islamic banks and non-banking financial institutions, emphasizing the necessary requirements for their acceptability from the Shari'ah standpoint and the correct method for their application. He deals with practical problems as they arise in the course of his presentation, and offers possible solutions in each instance. Investors and others doing business (or intending to do so) in Islamic countries have in this book a practical guide to a crucial factor in the success of their endeavours.

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Book ID of An Introduction to Islamic Finance's Books is S6AUNVo4eHAC, Book which was written byMuhammad Taqi Uusmani,Muḥammad Taqī ʻUs̲mānīhave ETAG "lwpvku7gtl4"

Book which was published by BRILL since 2002 have ISBNs, ISBN 13 Code is 9789041116192 and ISBN 10 Code is 9041116192

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