New Issues in Islamic Finance and Economics: Progress and Challenges

This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The application of Islamic finance is currently limited to banking. New Issues in Islamic Finance & Economics: Progress and Challenges provides a review of the main issues and challenges facing Islamic finance. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.

DR. He served for two and a half years on the Executive Board of the IMF and was Special Advisor to the Minister of Finance of Saudi Arabia. From 1969 to 1984, he taught in various universities in the U.S. and Iran. He has written extensively on economic development in the Middle East, international t

It has expanded beyond its traditional markets to become a global phenomenon.International financial institutions have embraced it as an important offering for their clients. But whether this anticipated growth will indeedc ontinue as before, or even accelerate, will depend on how Islamic institutions and governments respond to the challenges that loom on the horizon. From the Inside Flap In recent years, Islamic finance has becomethe fastest growing sector in the global finance industry. During this period of growth, Islamic finance has gone through significant changes and transformations, and has been affected by the forces of economic and financial globalization. In the face of higher energy prices andgrowing export earnings in a number of Islamic countries, the rapid growth of Islamic finance may be expected