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Handbook of

Islamic Banking

Edited by M. Kabir Hassan, University of New Orleans, US and


Mervyn K. Lewis, Professor of Banking and Finance, University
of South Australia and Fellow, Academy of Social Sciences, Australia

The Handbook of Islamic Banking comprises 25 studies by leading international


experts on Islamic banking and finance specially commissioned to analyse the
various debates and the current state of play in the field.

From its origins thirty years ago, Islamic banking has expanded rapidly to become
a distinctive and fast growing segment of the international banking and capital
markets. Despite this expansion, Islamic banking still remains poorly understood
in many parts of the Muslim world and continues to be a mystery in much of the
West. This comprehensive Handbook provides a succinct analysis of the workings
of Islamic banking and finance, accessible to a wide range of readers. At the
same time, it seeks to bring the current research agenda and the main issues on
Islamic banking before a wider audience.

Islamic banking offers, as an alternative to conventional interest-based financing


methods, a wide variety of financial instruments and investment vehicles based
on profit-and-loss sharing arrangements. These are all explored in detail along with other subjects such as
governance and risk management, securities and investment, structured financing, accounting and regulation,
economic development and globalization.

M. Kabir Hassan, Mervyn Lewis and the other contributors have created an authoritative and original reference
work, which will contribute to a wider understanding of Islamic banking as well as provoking further discussion
and research. It will be invaluable to all scholars, researchers and policymakers with an interest in this subject.

Contributors include: H. Ahmed, Z.U. Ahmed, L.M. Algaoud, S. Archer, R. Baba, M.M. Billah, K. Brown, M.U. Chapra, M.A. Choudhury, H. Dar,
S. Elfakhani, M. El-Gamal, S. Hakim, M.K. Hassan, M. Iqbal, M. Kahf, R.A.A. Karim, M.F. Khan, T. Khan, M.K. Lewis, M.J.T. McMillen, A. Mirakhor,
V. Nienhaus, M. Obaidullah, R. Saadallah, Y.M. Sidani, M. Skully, S.E.-D.I. Tag El Din, R. Wilson, I. Zaidi, I. Zbib

June 2007 464 pp Hardback 978 1 84542 083 3 $225.00


Elgar original reference

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Handbook of
Islamic Banking
Edited by M. Kabir Hassan and Mervyn K. Lewis

Contents & Contributors


1. Islamic Banking: An Introduction and Overview PART IV: ISLAMIC SYSTEMS
M. Kabir Hassan and Mervyn K. Lewis
17. Islamic Banks and Economic Development
PART I: FOUNDATIONS OF ISLAMIC FINANCING Monzer Kahf
2. Development of Islamic Economic and Social Thought 18. Islamic Methods for Government Borrowing and
Masudul Alam Choudhury Monetary Management
M. Fahim Khan
3. Islamic Critique of Conventional Financing
Latifa M. Algaoud and Mervyn K. Lewis 19. Accounting Standards for Islamic Financial Services
Simon Archer and Rifaat Ahmed Abdel Karim
4. Profit-and-loss Sharing Contracts in Islamic Finance
Abbas Mirakhor and Iqbal Zaidi 20.Mutualization of Islamic Banks
Mahmoud El-Gamal
5. Comparing Islamic and Christian Attitudes to Usury
Mervyn K. Lewis 21. Challenges Facing the Islamic Financial Industry
M.U. Chapra
PART II: OPERATIONS OF ISLAMIC BANKS
PART V: GLOBALIZATION OF ISLAMIC BANKING
6. Incentive Compatibility of Islamic Financing
Humayon Dar 22. International Islamic Financial Institutions
Munawar Iqbal
7. Operational Efficiency and Performance of Islamic Banks
Kym Brown, M. Kabir Hassan and Michael Skully 23. Islamic Financial Centres
Ricardo Baba
8. Marketing Islamic Financial Products
Said M. Elfakhani, Imad J. Zbib and Zafar U. Ahmed 24. Islamic Banking and the Growth of Takaful
Mohd. Ma’sum Billah
9. Governance of Islamic Banks
Volker Nienhaus 25. Islamic Banking in the West
Rodney Wilson
10. Risk Management in Islamic Banking
Habib Ahmed and Tariqullah Khan Index
PART III: INSTRUMENTS AND MARKETS
11. Islamic Money Market Instruments
Sam Hakim
12. Trade Financing in Islam
Ridha Saadallah
13. Securitization in Islam
Mohammed Obaidullah
14. Islamic Project Finance
Michael J.T. McMillen
15. Islam and Speculation in the Stock Exchange
Seif El-Din Tag El-Din and M. Kabir Hassan
16. Islamic Mutual Funds
Said Elfakhani, M. Kabir Hassan and Yusuf Sidani

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