This book today in my hand is by Mufti Muhammad Taqi Usmani entitled “An Introduction to Islamic Finance” was published in The book is actually about. For those who have expressed interested in this book, here is an online pdf version that has redone the typesetting and font of the book to make. Fahad said: Main ThemeAn Introduction to Islamic Finance discusses economics in the lig flag · See 1 question about An Introduction to Islamic Finance . Mufti Muhammad Taqi Usmani is one of the leading Islamic scholars living today.
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An Introduction to Islamic Finance – Taqi Usmani – Google Books
Read, highlight, and take notes, across web, tablet, and phone. The book is actually about the principles of Islamic Finance in depth and the main difference in Islamic and Conventional banking. The muftii is a Hanafi Islamic Scholar and has remained the chairman and member of sharia supervisory boards of different Islamic banks in different parts of the world. Muufti is an expert in the fields of Islamic Jurisprudence, economics, Tassawuf and Hadith.
In the book author has successfully drawn attention that modes of financing are ixlamic used by the Islamic banks and financial institutions since last two decades, but all these instruments are not the substitutes of interest in the strict sense. It will also be wrong to presume that they may be used exactly in the same style as current conventional product is used. He has discussed some preliminary points for Islamic banking at the beginning of the book. He has tried to explain the basic concept underlying these instruments.
He has also dealt with the practical issues involved in the application of the instruments and their possible solutions in the light of Quran and Sunnah. I have observed it very helpful because it is written in simple English. introductionn
Each financing model is explained in very detail including its types, profit calculation, termination time and its practice in contemporary banks I hope it will facilitate to understand the basic principles of Islamic finance and the main points of difference between conventional and Islamic banking.
I will prefer this book for the beginners of the Islamic finance. It is also easily understandable for those who do not belong to field of Islamic Finance.
It is hoped that this brief discussion will open new horizons for the thinking of Muslim jurists and economists and will help them implementing a true Islamic economy. Excellent Book for understanding the laws of shariah in regards to Muamulaat.
An Introduction to Islamic Finance by Muhammad Taqi Usmani
It is an important reminder of how dynamic Islam is for all times and all eras. May Allah grant the author great reward and a long life. Account Options Sign in.
As long as a person advancing money expects to share in the profits fknance or losses incurred by the other party, My library Help Advanced Book Search.
An Introduction to Islamic Finance.
An Introduction to Islamic Finance – Mufti Taqi Usmani
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 usmzni 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 Tto 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 tk 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.
User Review – Flag as inappropriate Excellent Book for understanding bg laws of shariah in regards to Muamulaat.
Selected pages Title Page. The Principles of Limited Liability.
An Introduction to Islamic Finance by Mufti Muhammad Taqi Usmani
The Performance of The Islamic Banks. References to this book Islamic Finance: Law, Economics, and Practice Mahmoud A. El-Gamal Limited preview – Vanessa Steinmayer Limited preview –