Islamic Capital Market Regulatory Requirements

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Islamic Capital Markets and Products

Author : Simon Archer
Publisher : John Wiley & Sons
ISBN 13 : 1119218810
Total Pages : 349 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis Islamic Capital Markets and Products by : Simon Archer

Download or read book Islamic Capital Markets and Products written by Simon Archer and published by John Wiley & Sons. This book was released on 2017-10-16 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ensure Basel III compliance with expert analysis specific to Islamic Finance Islamic Capital Markets and Products provides a thorough examination of Islamic capital markets (ICM), with particular attention to the products that they offer and the legal and regulatory infrastructure within which they operate. Since Islamic banks act as asset managers, attention is paid to the regulatory challenges which they face in the light of Basel III, as regards both eligible capital and liquidity risk management. The authors of the chapters are professionals and practitioners, and write from experience. The editors also contributed to some of the chapters. The markets and products covered include Islamic equities, Islamic investment certificates (Sukūk) which are Shari'ah compliant alternatives to conventional bonds, and Islamic Collective Investment Schemes. The coverage of legal and regulatory issues includes an examination of the implications for ICM of securities laws and regulations and of Basel III, as well as collateralisation issues. Shari'ah compliance aspects, in terms both of the selection criteria for Islamic equities and of the 'purification' of impermissible components of income, are also examined in some detail, as are the implications of Basel III for eligible capital in general and for Shari'ah compliant capital instruments in particular. A similar analysis is also made of the implications of the Basel III requirements for liquidity risk management and high quality liquid assets (HQLA), including Shari'ah compliant HQLA. The book concludes with three case studies, two describing the ICM in Malaysia and Bahrain and a third which describes Sukūk issued as Shari'ah compliant capital instruments, followed by brief concluding remarks by the editors.

Islamic Capital Markets

Author : Kabir Hassan
Publisher : John Wiley & Sons
ISBN 13 : 0470689579
Total Pages : 481 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Islamic Capital Markets by : Kabir Hassan

Download or read book Islamic Capital Markets written by Kabir Hassan and published by John Wiley & Sons. This book was released on 2011-04-04 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic Finance has experienced rapid growth in recent years, showing significant innovation and sophistication, and producing a broad range of investment products which are not limited to the complete replication of conventional fixed-income instruments, derivatives and fund structures. Islamic Finance represents an elemental departure from traditional interest-based and speculative practices, relying instead on real economic transactions, such as trade, investment based on profit sharing, and other solidary ways of doing business, and aims to incorporate Islamic principles, such as social justice, ecology and kindness, to create investment products and financial markets which are both ethical and sustainable. Products created according to Islamic principles have shown a low correlation to other market segments and are relatively independent even from market turbulences like the subprime crisis. Therefore, they have become increasingly popular with secular Muslims and non-Muslim investors, as highly useful alternative investments for the diversification of portfolios. In Islamic Capital Markets: Products and Strategies, international experts on Islamic Finance and Sharia'a Law focus on the most imminent issues surrounding the evolution of Islamic capital markets and the development of Sharia'a-compliant products. The book is separated into four parts, covering: General concepts and legal issues, including Rahn concepts in Saudi Arabia, the Sharia'a process in product development and the integration of social responsibility in financial communities; Global Islamic capital market trends, such as the evolution of Takaful products and the past, present and future of Islamic derivatives; National and regional experiences, from the world's largest Islamic financial market, Malaysia, to Islamic finance in other countries, including Germany, France and the US; Learning from Islamic finance after the global financial crisis; analysis of the risks and strengths of Islamic capital markets compared to the conventional system, financial engineering from an Islamic perspective, Sharia'a-compliant equity investments and Islamic microfinance. Islamic Capital Markets: Products and Strategies is the complete investors' guide to Islamic finance.

Islamic Capital Market: Regulatory requirements

Author : LexisNexis (Firm)
Publisher :
ISBN 13 : 9789835371165
Total Pages : 241 pages
Book Rating : 4.3/5 (711 download)

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Book Synopsis Islamic Capital Market: Regulatory requirements by : LexisNexis (Firm)

Download or read book Islamic Capital Market: Regulatory requirements written by LexisNexis (Firm) and published by . This book was released on 2009 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Islamic Finance: Legal Frameworks, Practices and Shariah Criteria Review (UUM Press)

Author : Asmadi Mohamed Naim
Publisher : UUM Press
ISBN 13 : 9672210922
Total Pages : 204 pages
Book Rating : 4.6/5 (722 download)

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Book Synopsis Islamic Finance: Legal Frameworks, Practices and Shariah Criteria Review (UUM Press) by : Asmadi Mohamed Naim

Download or read book Islamic Finance: Legal Frameworks, Practices and Shariah Criteria Review (UUM Press) written by Asmadi Mohamed Naim and published by UUM Press. This book was released on 2020-01-01 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides comprehensive compilation on Islamic legal documents related to Islamic financial system consists of legal statutes, frameworks, guidelines, circulars and internal compliant manual covering Islamic banking, takaful and Islamic capital markets. Brief description of those documents are laid down to assist non-legal background readers in having comprehensive view of Islamic finance legal system. Few special focuses are done to Shariah screening methodologies for stocks, Islamic fund and real estate with special review on few sukuk issuances as to familiarize reader with the principle terms and conditions (PTC) of the sukuk. Islamic finance is not just a system but it is a way to achieve the spirit of Shariah i.e. maqasid Shariah in providing prosperity to the society in blessing ways avoiding all prohibited elements as stated in Islamic law.

Islamic Finance

Author : Rifaat Ahmed Abdel Karim
Publisher : John Wiley & Sons
ISBN 13 : 1118247086
Total Pages : 385 pages
Book Rating : 4.1/5 (182 download)

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Book Synopsis Islamic Finance by : Rifaat Ahmed Abdel Karim

Download or read book Islamic Finance written by Rifaat Ahmed Abdel Karim and published by John Wiley & Sons. This book was released on 2013-04-17 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the world's foremost authorities on the subject, the number-one guide to Islamic finance revised and updated for a post-crisis world Because it is entirely equity-based, rather than credit-based, Islamic finance is immune to the speculative bubbles and runaway volatility typical of Western finance. Especially now, in the wake of the global financial crisis, this has made them increasingly attractive to institutional investors, asset managers and hedge funds in search of more stable alternatives to conventional financial products. With interest in Islamic finance swiftly spreading beyond the Muslim world, the need among finance and investment professionals has never been greater for timely and authoritative information about the rules governing Islamic finance. This thoroughly updated and revised second edition of the premier guide to regulatory issues in Islamic finance satisfies that need. Addresses the need for banks to develop common Islamic-based international accounting and auditing standards Clearly explains the key differences between Shari'ah rulings, standardization of acceptable banking practices, and the development of standardized financial products Explores the role of the Shari'ah Boards in establishing common rules regarding the permissibility of financial instruments and markets Offers guidance for regulators seeking to adapt their regulatory frameworks to the needs of the fast-growing Islamic finance sector

Regulating Islamic Financial Institutions

Author : Dahlia El-Hawary
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4./5 ( download)

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Book Synopsis Regulating Islamic Financial Institutions by : Dahlia El-Hawary

Download or read book Regulating Islamic Financial Institutions written by Dahlia El-Hawary and published by World Bank Publications. This book was released on 2004 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Islamic Capital Markets

Author : Obiyathulla Ismath Bacha
Publisher : John Wiley & Sons
ISBN 13 : 111846513X
Total Pages : 389 pages
Book Rating : 4.1/5 (184 download)

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Book Synopsis Islamic Capital Markets by : Obiyathulla Ismath Bacha

Download or read book Islamic Capital Markets written by Obiyathulla Ismath Bacha and published by John Wiley & Sons. This book was released on 2013-08-05 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive examination of Islamic capital markets Taking a comparative approach to the subject, this text looks at the similarities and differences between Islamic capital markets and conventional capital markets. The book explains each particular topic from both the conventional and the Islamic perspective, offering a full understanding of Islamic capital markets, processes, and instruments. In addition to a full explanation of Islamic products, this approach also ensures a holistic understanding of the dual markets within which Islamic capital markets operate. Ideal for both students and current practitioners, The New Islamic Capital Markets fills a large gap in the current literature on the subject. Whereas most books in this field cover the topic only superficially, this book offers the depth of coverage and academic rigor needed by professionals and serious students. Fills a gap in the current literature on the subject with comprehensive coverage and in-depth explanations Takes a comparative and holistic approach to the subject and features case studies from Malaysia, Indonesia, the Middle East, and Europe Written by a professor of finance at the International Centre for Education in Islamic Finance (INCEIF) One of the few comprehensive, dedicated guides to the subject available, The New Islamic Capital Markets offers a full understanding of the subject for students and professionals alike.

Islamic Capital Market

Author : Malaysia. Suruhanjaya Sekuriti
Publisher :
ISBN 13 : 9789835371127
Total Pages : 0 pages
Book Rating : 4.3/5 (711 download)

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Book Synopsis Islamic Capital Market by : Malaysia. Suruhanjaya Sekuriti

Download or read book Islamic Capital Market written by Malaysia. Suruhanjaya Sekuriti and published by . This book was released on 2011-11-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic Capital Market is a series of six titles endorsed by the Securities Commission Malaysia and published by LexisNexis. The publication of the books is in response to the expanding role of Islamic capital market, resulting from the phenomenal growth of Islamic capital market globally. The six titles provide an understanding of the basic concepts of Islamic capital market, its features and philosophy, the applicable regulatory principles, legal and accounting frameworks, important challenges, key trends, fundamentals and the governing principles of Islamic commercial law (Fiqh al-muamalat), as well as the distinctive features and structures of Islamic equities and Islamic securities (sukuk).It is an excellent reference for professionals in both Islamic and conventional capital markets. Anyone aspiring to become a practitioner or be engaged in the Islamic capital market will find these books useful as reference materials. The six titles in the Islamic Capital Market series are:(1) Introduction to Islamic Capital Market(2) Islamic Commercial Law (Fiqh al-Muamalat) (3) Regulatory Requirements, Legal Documentation, Accounting, Auditing and Taxation in the Islamic Capital Market (4) Islamic Equity Market(5) Islamic Securities (Sukuk) Market(6) Valuation of Securities

The Core Principles for Islamic Finance Regulations and Assessment Methodology

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498308880
Total Pages : 40 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Core Principles for Islamic Finance Regulations and Assessment Methodology by : International Monetary Fund

Download or read book The Core Principles for Islamic Finance Regulations and Assessment Methodology written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-05-24 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a proposal to incorporate the Core Principles for Islamic Finance Regulation (Banking Sector) (CPIFR) issued by the Islamic Financial Services Board (IFSB), as part of the standards used in assessing the banking regulatory and supervisory regimes of relevant member jurisdictions under the Financial Sector Assessment Program (FSAP) and the Reports on Observance of Standards and Codes (ROSCs). The CPIFR largely reflects the order of the Basel Core Principles on Effective Banking Supervision (BCP), with five additional principles that are specific to Islamic banking operations. Thus, for countries that have systemically significant Islamic banking sector, the assessment of the banking regulation and supervision regime of the jurisdiction would be against the CPIFR (for fully Islamic banking systems) or BCP and the five additional core principles under the CPIFR (for dual banking systems). The Fund staff is seeking the endorsement of the Executive Board on this proposal.

Islamic Finance

Author : Simon Archer
Publisher : John Wiley & Sons
ISBN 13 : 0470821892
Total Pages : 441 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis Islamic Finance by : Simon Archer

Download or read book Islamic Finance written by Simon Archer and published by John Wiley & Sons. This book was released on 2007-03-16 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Islamic Finance: The Regulatory Challenge…is therefore timely and a truly welcome addition to the growing literature on this subject…I congratulate the two professors for their fine contribution to the evolving art and science of the regulation of Islamic finance." —Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia "The World's financial regulators have taken too long to appreciate the importance of adapting their regulatory frameworks to the needs of the fast growing Islamic finance sector. Simon Archer and Rifaat Ahmed, the leaders in the field, have put together a fascinating collection of essays which show just what has to be done. It is a very timely book indeed." —Howard Davies, Director, London School of Economics "The emergence of Islamic finance as a major force in the world financial system has focused attention on regulatory issues. This book, edited by Professor Archer and Professor Rifaat, two of the most respected figures in the field, is an important point of reference for those who have to deal with these issues, whether in regulatory authorities, or in the financial institutions themselves." —Professor William Blair QC, Grays Inn, London "There is now great interest, both in financial and legal circles, in reliable and authoritative texts on Islamic finance. I have no doubt that the availability of Islamic Finance: The Regulatory Challenge will be warmly welcomed by those who provide financial and legal services. The work will be of great assistance to them." —The Rt Hon the Lord Woolf of Barnes, Law Lord and former Lord Chief Justice of England & Wales

Islamic Capital Market

Author : Muhammad Hanif
Publisher : CreateSpace
ISBN 13 : 9781500506926
Total Pages : 74 pages
Book Rating : 4.5/5 (69 download)

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Book Synopsis Islamic Capital Market by : Muhammad Hanif

Download or read book Islamic Capital Market written by Muhammad Hanif and published by CreateSpace. This book was released on 2014-05-01 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic banking and finance industry is expanding world over with an unprecedented growth. The global volume of Shari'a compliant assets has reached to US $ 1,700 Billion by the end of 2013, displaying a growth of 21% from 2007-13 (GIBCR-2014) Middle East and North Africa (MENA) region is the centre of Islamic finance market and contributes 74% share in global assets under Islamic finance, followed by East Asian region with a share of 17% while 9% from rest of the world. (IFSL, 2013). Share of Bank assets is 90% followed by equity funds 5% and rests are others in the global volume of assets under Islamic finance. For Islamic financial industry, deposit collection is not as much difficult as is financing and investments in business and industry. The investment avenues are limited due to Shari'a compliance restrictions as compared to conventional banks. For IFIs, Shari'a compliant modes of investments are a must. Conventional interest based bonds, leasing and insurance companies' certificates and government securities are not in line with Islamic financial system. However investment in equities, which are primarily profit and loss sharing based, fall within Shari'a compliant investment universe. Capital market is one of the major sources of diverting funds from savers to investors. Islamic finance is expanding in capital market in the form of Islamic indexes, Sukuk, money market funds and equity market funds. To address the issue of investment in marketable equities (which are primarily based on profit and loss sharing principle), Shari'a screening filters have been developed and we have above ten Islamic Indexes operating worldwide including DJIM, FTSE, S&P, MSCI, HSBC, Ameri, BID, Azzad and KMI. There exist differences in filtering criteria of these indexes and it is quite possible that a company is Shari'a compliant under one index and not under other(s) [see Derigs & Marzban, 2008]. This difference exists among all followers of revealed books (Jews, Christians and Muslims), in explanation and detailed rules development based on revelations. There are at least five schools of thoughts based on solid reasons and logic among Muslims including Hanfi, Shafai, Malki, Hanbali and Jaafari. In Pakistan Al-Meezan Investment Management Ltd (AIML), subsidiary of a leading IFI (Meezan Bank) took the initiative and started screening of KSE listed securities through Shari'a compliance filters and developed KSE-Meezan Index (KMI-30). Test of Shari'a compliance of stocks is done under the guidance of qualified and reputed Shari'a experts. For a security, to be “Shari'a compliant” based on KMI Criteria, it must meet ALL the six key tests given below (KMI-2008).This book is written with a clear focus on learning of Islamic capital market by accounting, banking, business and finance students/professionals. Under Islamic capital market two dedicated chapters have been included; each for equities and Sukuk. Shari'a compliance of equity securities, trading rules and valuation mechanism discussed under equity chapter. Chapter-2 on Sukuk includes origin, development, types and Sukuk process along with Shari'a rulings. In this edition due attention has been given to present material in reader friendly mode in addition to thorough review of content, exercises and figures. Updated figures on equity funds and Sukuk are also part of this edition. This book is useful for MBA/BBA students as well as for banking/finance students and practitioners of Islamic banking & finance. It is also useful for accounting & finance professionals, trainers in Islamic banking, regulators, investors, corporate managers and general public, interested in understanding Islamic finance.

Islamic Finance

Author : Rifaat Ahmed Abdel Karim
Publisher : John Wiley & Sons
ISBN 13 : 1118179471
Total Pages : 441 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis Islamic Finance by : Rifaat Ahmed Abdel Karim

Download or read book Islamic Finance written by Rifaat Ahmed Abdel Karim and published by John Wiley & Sons. This book was released on 2011-09-02 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Islamic Finance: The Regulatory Challenge…is therefore timely and a truly welcome addition to the growing literature on this subject…I congratulate the two professors for their fine contribution to the evolving art and science of the regulation of Islamic finance." —Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia "The World's financial regulators have taken too long to appreciate the importance of adapting their regulatory frameworks to the needs of the fast growing Islamic finance sector. Simon Archer and Rifaat Ahmed, the leaders in the field, have put together a fascinating collection of essays which show just what has to be done. It is a very timely book indeed." —Howard Davies, Director, London School of Economics "The emergence of Islamic finance as a major force in the world financial system has focused attention on regulatory issues. This book, edited by Professor Archer and Professor Rifaat, two of the most respected figures in the field, is an important point of reference for those who have to deal with these issues, whether in regulatory authorities, or in the financial institutions themselves." —Professor William Blair QC, Grays Inn, London "There is now great interest, both in financial and legal circles, in reliable and authoritative texts on Islamic finance. I have no doubt that the availability of Islamic Finance: The Regulatory Challenge will be warmly welcomed by those who provide financial and legal services. The work will be of great assistance to them." —The Rt Hon the Lord Woolf of Barnes, Law Lord and former Lord Chief Justice of England & Wales

Macroprudential Regulation and Policy for the Islamic Financial Industry

Author : Muhamed Zulkhibri
Publisher : Springer
ISBN 13 : 3319304453
Total Pages : 276 pages
Book Rating : 4.3/5 (193 download)

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Book Synopsis Macroprudential Regulation and Policy for the Islamic Financial Industry by : Muhamed Zulkhibri

Download or read book Macroprudential Regulation and Policy for the Islamic Financial Industry written by Muhamed Zulkhibri and published by Springer. This book was released on 2016-05-25 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry. Published in cooperation with the Islamic Research and Training Institute (IRTI), this book features contributions from a workshop presented in collaboration with the University College of Bahrain (UCB) in Manama, Bahrain, aimed to bring together experts in Islamic banking and regulation and financial economics. This resulting book sheds light on how macroprudential policy may be implemented in the Islamic financial system, and indicates current challenges and their effects on economic growth, financial stability and monetary regulation. Macroprudential policy is increasingly seen as a way of dealing with the different dimensions of systemic risk. But many central banks, bank supervisors and regulators have limited experience with macroprudential tools, particularly in the Islamic financial industry. Given the complementarities between monetary policy and financial stability, it appears that central banks would always play an important role in macroprudential policy. But how should macroprudential policy best interact with monetary policy? It is becoming more pressing for the central banks to conduct monetary policy in which its conventional banking system operates side by side with Islamic banking system. This question has received increasing attention in the research literature but there is much we still need to learn. This is why new insights from research on macroprudential policy – which has gained important impetus in recent years – are so valuable. Featuring contributions on topics such as macroprudential regulation, policy, tools and instruments; governance, systematic risk, monetary policy, and bank leverage, the editors provide a collection of comprehensive research covering the most important issues on macroprudential policy and regulation for the Islamic financial industry. This volume is expected to be a significant contribution to the literature in the field of Islamic finance and evaluation of public policies to promote the development for Islamic financial industry. It is also served as a key text for students, academics, researchers, policy-makers in the field of Islamic finance.

Islamic Banking Regulation and Supervision

Author : Mr.In Song
Publisher : International Monetary Fund
ISBN 13 : 1498319270
Total Pages : 42 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Islamic Banking Regulation and Supervision by : Mr.In Song

Download or read book Islamic Banking Regulation and Supervision written by Mr.In Song and published by International Monetary Fund. This book was released on 2014-12-12 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growing presence of Islamic banking needs to be accompanied by the development of effective regulation and supervision. This paper examines the results of the survey conducted by the International Monetary Fund to document international experiences and country practices related to legal and prudential frameworks governing Islamic banking activities. Although a number of countries have made considerable progress in creating legal, regulatory, and supervisory frameworks that accommodate Islamic banking, there are substantial differences. This paper also identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking.

Risk and Regulation of Islamic Banking

Author : Mervyn K Lewis
Publisher : Edward Elgar Publishing
ISBN 13 : 1783476133
Total Pages : 335 pages
Book Rating : 4.7/5 (834 download)

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Book Synopsis Risk and Regulation of Islamic Banking by : Mervyn K Lewis

Download or read book Risk and Regulation of Islamic Banking written by Mervyn K Lewis and published by Edward Elgar Publishing. This book was released on 2014-08-29 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: The expert contributors examine why an ethical foundation is important and why the system requires well-thought-out regulations to ensure outcomes that protect the community�s well-being. The volume explores in detail the nature of Islamic banking prod

Regulation and Supervision of Islamic Banks

Author : Aledjandro Lopez Mejia
Publisher : International Monetary Fund
ISBN 13 : 1498361595
Total Pages : 33 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Regulation and Supervision of Islamic Banks by : Aledjandro Lopez Mejia

Download or read book Regulation and Supervision of Islamic Banks written by Aledjandro Lopez Mejia and published by International Monetary Fund. This book was released on 2014-12-12 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims at developing a better understanding of Islamic banking (IB) and providing policy recommendations to enhance the supervision of Islamic banks (IBs). It points out and discusses similarities and differences of IBs with conventional banks (CBs) and reviews whether the IBs are more stable than CBs. Given the risks faced by IBs, the paper concludes that they need a legal, corporate and regulatory framework as much as CB does. The paper also argues that it is important to ensure operational independence of the supervisory agency, which has to be supported by adequate resources, a sound legal framework, a well designed governance structure, and robust accountability practices.

The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance

Author : Humayon A. Dar
Publisher : Harriman House Limited
ISBN 13 : 0857192000
Total Pages : 281 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance by : Humayon A. Dar

Download or read book The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance written by Humayon A. Dar and published by Harriman House Limited. This book was released on 2012-01-09 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unprecedented economic growth and wealth accumulation in predominately Muslim countries have prompted many financial institutions in the US and Europe to position their investment teams across the Middle East and Asia to be closer to the markets in which they invest, and to take advantage or asset-gathering opportunities. This growth has also encouraged an increasing number of western industrialised countries to adopt legislation that responds to the requirements of the Musli investment community. To be effective in these markets it is essential that professionals have an understanding of how Shari'a legal principles are applied in the financial sector. Failure to do so exposes them and their clients to potential financial, legal and reputational pitfalls. The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance is the first professional reference to focus specifically on the legal dimension of Islamic Finance. The guide brings together nineteen Islamic Finance legal practitioners and advisers to provide a comprehensive yet practical legal perspective on the subject. Each contributor draws on several years' hands-on experience in Islamic Finance product development and advice to leading financial institutions to provide a real-world, contemporary assessment of the key legal issues in Islamic Finance. The guide's hands-on approach and accessible style make it required reading for everyone with a professional interest in Islamic Finance, be they lawyers, accountants, regulators, bankers or investors. It is also a unique reference for academic institutions worldwide.