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Selasa, 06 April 2010

What is Islamic Banking and Finance?

Page 2 of 43

Contents

Introduction

Overview
· What is Islamic Banking and Finance?
· Islamic Jurisprudence and Syariah Law


Past, Present and Future
· Development and Challenges
· Prospects


Practices
· Practices, Products and Services


Major Institutions, Country / Regional Focus


A note on access to the collections at National Library Singapore
Items with call number beginning with the following collection codes may be
accessed as follows:

R – Social Sciences & Humanities / Science & Technology Collections (Level 7)
RART – Arts Collection (Level 8)
RBUS – Business Collection (Level 8)
RSEA – Southeast Asian Collection (Level 11)
RSING – Singapore Collection (Level 11)


To access the online resources, please log on to eresources.nlb.gov.sg. Click on
‘Register’ if you are not a Digital Library member or click on ‘Login’ to begin use.















Page 3 of 43
Introduction

The Islamic banking and finance industry is gaining prominence on a global scale.
Regarded as a lucrative alternative to conventional banking and finance, it is no longer
confined to the Muslim world. Secular economies such as Hong Kong and Singapore
are looking to get their fingers in the pie and develop the industry locally. Some major
financial institutions have added Islamic financial products and services to their suite of
existing products and services.

Governed by the principles of Shari’ah (Islamic law), Islamic banking and finance differ
from conventional banking and finance in three broad respects. Firstly, riba (usury or
the charging of interest) is prohibited. Secondly, gharar (uncertainty or speculation) is
disallowed. Thirdly, there should be no dealings with businesses involving forbidden
products or activities (such as pork, alcohol and gambling). The knowledge of these
differences inadvertently raises questions in one’s mind about the ability to profit from
Islamic banking and finance. However, ways to take advantage of these rules have
been implemented to create the profitable Islamic financial products and services
available today.

Rather than being entirely new, Islamic financial products and services are the result of
the modification of conventional financial products and services in accordance with the
principles of Shari’ah. This has garnered criticism on them being Islamicised rather
than Islamic. Criticism aside, it is undeniable that the Islamic banking and finance
industry will only grow in importance as time passes. There are also many challenges
that await it on the road ahead.

This resource guide presents books, databases, articles, and websites for all
interested in learning more about Islamic banking and finance, be they researchers,
students, businessmen or the man on the street.


























Page 4 of 43















Overview


























Page 5 of 43
Overview
The following resources provide an overview of Islamic banking and finance, Islamic
jurisprudence and Shari’ah.


Books


Title: Essential readings in Islamic finance
Author: Bakar, Mohd. Daud (Ed.) and Engku Ali, Engku
Rabiah Adawiah (Ed.)
Publisher: Kuala Lumpur, Malaysia: Centre for Research and
Training, 2008
Call number: RSEA 332 ESS

Description: This collection of papers explores and expounds
on the Shari’ah framework, the development of
Islamic banking, takaful, legal, accounting and
governance issues in Islamic finance, and the
Islamic capital market. It also discusses the
challenges and development of Islamic finance.

All rights reserved. Kuala Lumpur,
Malaysia: Centre for Research and
Training, 2008


Title: An introduction to Islamic Finance: Theory
and practice
Author: Iqbal, Zamir and Mirakhor, Abbas
Publisher: Singapore: John Wiley & Sons (Asia), 2007
Call number: RBUS 332.091767IQB

Description: This book introduces the various aspects of
Islamic finance including financial instruments, the
Islamic financial system and the Islamic financial
services industry. It also touches on issues of
Islamic jurisprudence, corporate governance and
challenges faced by the industry.

All rights reserved. Singapore: John
Wiley & Sons (Asia), 2007


Title: Islamic finance
Author: Hassan, M. Kabir (Ed.) and Lewis, Mervyn K.
(Ed.)
Publisher: Cheltenham: Edward Elgar, 2007
Call number: RBUS 332.1091767 ISL

Description: This is a collection of the most important papers
on the topic of Islamic Finance published from
1964 to 2004. The papers cover five broad areas,
namely, the prohibition of interest, the principles of
Islamic banking, accounting and regulatory
issues, Islamic institutions and developments in
Islamic financing.

All rights reserved. Cheltenham:
Edward Elgar, 2007





Page 6 of 43
Title: Interest in Islamic economics: Understanding
riba
Author: Thomas, Abdulkader (Ed.)
Publisher: New York; London: Routledge, 2006
Call number: RBUS 332.8091767 INT

Description: This collection of papers, written by prominent
international scholars, provides an overview to
riba that is essential to understanding Islamic
economics, finance and banking. It examines riba
from the areas of linguistics, classical judicial
analysis, the historical context and modern
economics and aims to provide readers greater
insight into its complexities.

All rights reserved. New York;
London: Routledge, 2006


Title: A mini guide to Islamic banking & finance
Author: El-Gamal, Mahmoud
Publisher: Malaysia: CERT Publications, 2006
Call number: RSEA 332.1091767 GAM

Description: This guide highlights the common financial
transactions in conventional finance that are
prohibited by Shari’ah and the corresponding
Islamic transactions that are permissible under
Shari’ah. It also includes a useful FAQ section on
Islamic finance.

All rights reserved. Malaysia: CERT
Publications, 2006


Title: Shari’a standards: The full text of shari’a
standards as at Rabi’ I 1424 H - May 2004
Author: Accounting and Auditing Organization for Islamic
Financial Institutions
Publisher: Manama, Bahrain: Accounting and Auditing
Organization for Islamic Financial Institutions,
2004
Call number: RBUS q332.091767 ACC

Description: These standards set by the Accounting and
Auditing Organization for Islamic Financial
Institutions have been implemented in leading
Islamic banking and finance centres around the
world such as Bahrain, Saudi Arabia and
Malaysia.

All rights reserved. Manama,
Bahrain: Accounting and Auditing
Organization for Islamic Financial
Institutions, 2004









Page 7 of 43
Databases


Asia-studies Full-text Online
(Available at all libraries and from home.)

Asia-Studies Full-text Online provides access to publications by the region's most prestigious
research institutions, bringing together thousands of full-text reports covering business,
government, economic and social issues. Country coverage includes all of Asia, Australia/New
Zealand, the Americas, Pacific Rim countries, and the Pacific islands. Note that only basic
search feature is available and extensive browsing is required.


© 2008 International Information Services. All rights reserved.

Santoso, B., Fajar, A. N., Roslan, A. H., Ananda, C. F., Pinyonatthagarn, D.,
Saparini, H., & et al. (2005). The need and availability of micro finance service for
micro enterprise: Bringing multi-level good practices into local context. Retrieved
September 26, 2008, from Asia-studies Full-text Online database.

“Sharia banking is one option of financial services. Originally, sharia banking is
derived from Moslem financial services practice. Interest rates are unacceptable in
Islamic values. Therefore, sharia banking is also known as Islamic banking. The
existence of Islamic banking and financial corporate has recently being the new
economic development paradigm. This system works not only in Islamic economies,
but also in the other economies.”






Page 8 of 43
Credo Reference: All Books
(Available at all libraries and from home.)

Credo Reference: All Books provides access to the digitised versions of over 120 reference
books including dictionaries, encyclopaedias, thesauri, books of quotations and subject-specific
reference titles.


© 2008 Credo Reference. All rights reserved.

Islamic banking and finance. (2003). In The Penguin International Dictionary of
Finance. London: Penguin. Retrieved September 26, 2008, from Credo Reference:
All Books database.




eBrary Books
(You need a proprietary eBrary Reader on your PC to read eBrary eBooks. eBrary eBooks are
read online. No downloading is required. Available at all libraries and from home.)

The eBrary's collection of electronic books consists of over 9,000 titles on arts and humanities,
social sciences, science and technology, plus another 5,000 titles on management and
economics.


© 1999-2008, ebrary, Inc. All rights reserved.

Page 9 of 43
Venardos, A. M. (2005). Islamic banking and finance in South-East Asia: Its
development and future. World Scientific Publishing Company, Incorporated.
Retrieved September 26, 2008, from eBrary Books database.

“The key feature, or principle, that distinguishes Islamic banks from any other kind of
bank is the rejection of interest-based financial transactions. The Quran’s ban on
giving or receiving interest is known to all devout Muslims. The words from Chapter
2, Verse 278 of the Quran are, in fact, quite specific: “O you who believe! Have fear
of Allah and give up what remains of what is due to you of usury. . . . If you do not,
then take notice of war from Allah and His Messenger.”




Economist Intelligence Unit (EIU)
(Available at the National Library and Regional Libraries only.)

The Economist Intelligence Unit provides in-depth analysis of political and economic trends plus
background and historical context of current events in nearly 200 countries. Includes a fortnightly
business briefing on doing business in Asia and guides to operating a business in China.

© 2008 The Economist Intelligence Unit Limited. All rights reserved.

Economic performance: A new Islamic bank and stock exchange are being planned.
In Bahrain Country Report. Retrieved September 26, 2008, from Economist
Intelligence Unit (EIU) database.







Page 10 of 43
Emerald Management Xtra
(Available at the National Library only.)

Emerald Management Xtra is one of the largest, most comprehensive collections of peer-
reviewed management journals. It features full text journals and reviews from the world’s top
management journals.


© Emerald Group Publishing Limited.

Choudhury, M. A., & Hussain, M. Md. (2005). A paradigm of Islamic money and
banking. In International Journal of Social Economics, 32(3). Retrieved September
26, 2008, from Emerald Management Xtra database.

“Theological perspectives in ethics, values and their functional application in the real
world are vividly covered by the theory and practice of Islamic banking in recent
times. This paper seeks to formalize the theological paradigm of the unity of God
(Tawhid) and to make the groundwork of unity of knowledge in the context of the
money, finance and real economy linkages.”















Page 11 of 43
JSTOR : the Scholarly Journal Archive
(Available at all libraries and from home.)

JSTOR provides online access to archived contents of important scholarly journals, mainly in the
humanities and social sciences. Researchers are able to retrieve high-resolution, scanned
images of back issues of journals and pages as they were originally printed. Existing titles are
updated and new titles are added on an ongoing basis.


©2000-2008 JSTOR. All rights reserved.

Rodney, W. (1987, August). Islamic banking in Jordan. In Arab Law Quarterly, 2(3),
207-229. Retrieved September 26, 2008, from JSTOR : the Scholarly Journal
Archive database.

“The subject of Islamic finance has received increasing attention in recent years,
both from Moslem scholars and from those in the West with an interest in Islamic
affairs. Much of the writing is of a theoretical nature, however, and it is only recently
that the results of empirical investigations have started to appear. This paper is
intended as a modest contribution to this empirical literature.”




SpringerLink
(Available at the National Library only.)

SpringerLink offers access to over 1,250 peer-reviewed journals covering subjects such as
biomedical and life sciences, business and economics, chemistry and materials science,
computer science and more. Includes access to more than 8,500 eBooks (those published in the
last 3 years) in English covering all areas of science.


© Springer. All rights reserved.

Page 12 of 43
Murjan, W, & Ruza, C. (2002, November). The competitive nature of the Arab Middle
Eastern banking markets. In International Advances in Economic Research, 8(4).
Retrieved September 26, 2008, from SpringerLink database.




World Bank e-Library
(Available at the National Library only.)

The World Bank e-Library consists of over 1,800 World Bank publications and over 2,700 Policy
Research Working Papers.


© World Bank. All rights reserved.

Greuning, H. V., & Iqbal, Z. (2007). Risk analysis for Islamic banks. Retrieved
September 26, 2008, from World Bank e-Library database.

“Islamic finance is emerging as a rapidly growing part of the financial sector in the
Islamic world and is not restricted to Islamic countries, but is spreading wherever
there is a sizable Muslim community … This publication provides a comprehensive
overview of topics related to the assessment, analysis, and management of various
types of risks in the field of Islamic banking. It is an attempt to provide a high-level
framework (aimed at non-specialist executives) attuned to the current realities of
changing economies and Islamic financial markets. This approach emphasizes the
accountability of key players in the corporate governance process in relation to the
management of different dimensions of Islamic financial risk.”











Page 13 of 43

Websites


Title: Accounting and Auditing Organization for Islamic Financial
(AAOIFI)
Retrieved: September 26, 2008
URL: http://www.aaoifi.com/
Description: The Accounting and Auditing Organization for Islamic Financial
Institutions is an Islamic international autonomous non-for-profit
corporate body that prepares accounting, auditing, governance, ethics
and Shari'a standards for Islamic financial institutions and the industry.


© AAOIFI 2006-2007. All rights reserved.


Title: Association of Islamic Banking Institutions Malaysia (AIBIM)
Retrieved: September 26, 2008
URL: http://www.aibim.com/
Description: Association of Islamic Banking Institutions Malaysia aims to promote the
establishment of sound Islamic banking systems and practices in
Malaysia, in cooperation and consultation with Bank Negara Malaysia or
other regulatory bodies in Malaysia. Click on ‘About Islamic Finance’ and
‘About Takaful’.



© 2008 Association of Islamic Banking Institutions Malaysia. All rights reserved.

Page 14 of 43
Title: Islamic Development Bank (IDB)
Retrieved: September 26, 2008
URL: http://www.isdb.org/irj/portal/anonymous
Description: Islamic Development Bank (IDB) is a multilateral development financing
institution, established to foster social and economic development of its
56 member countries and Muslim communities worldwide, in
accordance with the principles of Shari'ah i.e., Islamic Law.



© IDB 2008. All rights reserved.

Title: Islamic Financial Services Board (IFSB)
Retrieved: September 26, 2008
URL: http://www.ifsb.org/
Description: The Islamic Financial Services Board is an international standard-setting
organisation that promotes and enhances the soundness and stability of
the Islamic financial services industry by issuing global prudential
standards and guiding principles for the industry, broadly defined to
include banking, capital markets and insurance sectors. The IFSB
Published Standards are available in full-text.



© 2008 Islamic Financial Services Board. All rights reserved.

Page 15 of 43






















Past, Present and Future



























Page 16 of 43
Past, Present and Future
The following resources examine the developments and challenges in the Islamic financial
industry as well as its future prospects.


Books & Periodical


Title: Islamic finance: The regulatory challenge
Author: Archer, Simon (Ed.) and Abdel Karim, Rifaat
Ahmed (Ed.)
Publisher: Singapore: John Wiley, 2007
Call number: RBUS 332.1091767 ISL

Description: This book discusses the nature of risks in Islamic
banking and the regulatory challenges faced by
the Islamic financial services sector. It also
explores the building of frameworks in developing
economies that cater to both conventional and
Islamic financial sectors.

All rights reserved. Singapore: John
Wiley, 2007


Title: Islamic insurance: Trends, opportunities and
the future of takaful
Author: Jaffer, Sohail (Ed.)
Publisher: London: Euromoney, 2007
Call number: R 368.0091767 ISL

Description: This book examines the drivers of growth and the
global market for takaful, or Islamic insurance. It
also discusses the challenges and future of
takaful and highlights common misconceptions
and concerns that arise through its provision.
All rights reserved. London:
Euromoney, 2007


Title: Islamic banking: How far have we gone
Author: Ataul Huq Pramanik (Ed.)
Publisher: Kuala Lumpur: International Islamic University
Malaysia, 2006
Call number: RBUS 332.1091767 ISL

Description: This collection of papers discusses the
achievements and limitations of Islamic banking. It
also includes comparative studies between
conventional versus Islamic banking and
conventional versus mudaraba financing.
All rights reserved. Kuala Lumpur:
International Islamic University
Malaysia, 2006






Page 17 of 43
Title: Islamic finance review
Publisher: Colchester: Euromoney Yearbooks
Call number: RBUS 332.109176705 IFR

Description: This is an annual periodical that provides updates
on the current trends, developments and
challenges in Islamic finance. Its articles are
contributed by practitioners from various banks
and financial institutions.

All rights reserved. Colchester:
Euromoney Yearbooks




Databases


Business Monitor Online
(Available at the National Library only.)

Business Monitor online information service provides country and political risk reports, industry
analysis and forecasting, company intelligence, and financial markets forecasts.


© 2008 Business Monitor International Ltd. All rights reserved.

Corporate Financing News Alert - Shari'a Services Grow In Asia. (2008, August 20).
Retrieved September 26, 2008, from Business Monitor Online database.






Page 18 of 43
China Infobank
(Limited to 8 concurrent access only. Available at all libraries.)

ᇏݓሧ࿟ྛႵཋ܄ඳ൞ཐۖ၂ࡅህ૊൬ࠢaԩ৘ࠣԮѬᇏݓഅြྐ༏֥ۚ॓࠯ఒြđູൗࢸ۲ֹ
۲ྛ۲ြ֥܄ඳބ࿹࣮ࠏܒิ܂ࣜ࠶ྍ໔aഅြБۡa๤࠹ඔऌa॓࿹ሧਘ֩ྐ༏đሧ࿟ԥթႿ
۱ඔऌ९ᇏđଢభႚႵ೘Ϥ؟ຣ௉അြሧਘđູགྷթᇏ໓അြඔऌ९ᆭܳbඔऌ९ૄರ۷ྍb
China Infobank comprises 15 databases that provide business information and other news about
China. Types of information pertain to industry, economic, legal, health, government, company
and biographical data. Contents are mainly in Chinese with some available in English.


© 2000 INFOBANK. All rights reserved.

၈ථধࣁವ൧ӆૄ୍ᄹӉ෎؇ಯЌӻ15%. (2008, February 29). ᆣಊൈБ Retrieved
September 26, 2008, from China Infobank database.


EBSCOHost Academic Search Premier
(Available at all libraries and from home.)

ECSCOHost Academic Search Premier provides full-text for over 4,500 publications, including
full-text for more than 3,600 peer-reviewed journals in subject areas such as biology, chemistry,
engineering, physics, religion, arts and sociology. Titles include American Journal of Political
Science, American Libraries, British Journal of Sociology, Contemporary Literature, International
Journal of Psychology, and Journal for the Scientific Study of Religion.


© 2008 EBSCO Industries, Inc. All rights reserved.

Page 19 of 43
Seibel, H. D. (2008, April). Islamic microfinance in Indonesia: The challenge of
institutional diversity, regulation, and supervision. In SOJOURN: Journal of Social
Issues in Southeast Asia, 23(1), 86-103. Retrieved September 26, 2008, from
EBSCOHost Academic Search Premier database.

“There are two options of promoting Islamic microfinance: (1) assisting Islamic
commercial banks to establish units with Islamic microfinance products; (2)
reassessing in a participatory process the challenges and realistic opportunities of
Islamic rural banks and cooperatives, with a focus on effective internal control,
external supervision, and the establishment of associations with apex services to
their member institutions.”




EBSCOHost Business Source Complete
(Available at all libraries and from home.)

EBSCOHost Business Source Complete provides a collection of about 1,200 peer reviewed
business-related journals. Subject areas include marketing, management, accounting, and
finance.


© 2008 EBSCO Industries, Inc. All rights reserved.

Islam, N. (2008, August 14). Islamic banking means western opportunity: Muslims
have particular banking needs -- and few venues to fulfill them. In Gallup
Management Journal Online, 1-5. Retrieved September 26, 2008, from EBSCOHost
Business Source Complete database.

“There are sufficient Muslim investors and borrowers in Islamic and non-Islamic
countries to warrant the attention of traditional banks that seek to serve such clients
and capture a potentially profitable slice of the market. The challenge for Western
banks, however, is to leverage their banking knowledge and expertise while fulfilling
the requirements of their Islamic customer base and complying with Islamic banking
principles. It's not easy, but for big banks, or any bank serving a large Muslim
population, it can be worth it.”


Page 20 of 43
Factiva.com
(Available at all libraries and from home. Home access enjoys only 30 days archive.)

Factiva's research products provide access to a deep archive of news and business information
that provides a historical, global, and local perspective, which can help you uncover essential
information on your prospects, partners or customers easily. ֡౪ථބਫ਼๩ഠ܋๝ႚႵ֥അြྍ
໔ྐ༏९'BDUJWB DPNิ܂ൗࢸ֥ࠩಆ౯ྍ໔ބഅြྐ༏bఃᇏ໓ଽಸটჷႿᇏݓն੤đཐۖđ෻
ຖđઔট༆࿰đྍࡆ௡ֹ֥֩100؟ᇕᇏ໓Бᆼᄖᆽၛࠣྛြс؀܄ඳБۡbᄝۿିഈđ
Factiva.comิ܂ਔෆ෬a۵ሶa܄ඳॹ෎Ұ࿘aܢ൧߸൧Ұ࿘aྛြҰ࿘đѩି۴ऌሱ֥࠭ླေ
۵ሶۋྖ౿֥ྐ༏টჷa܄ඳaྛြބྍ໔ᇶีb


© 2008 Factiva, Inc. All rights reserved.

Islamic banking, an effective blooming industry. (2008, August 31). ClipMoj News
Agency. Retrieved September 26, 2008, from Factiva.com.




Global Insight: World Markets Research Center
(Available at all libraries and from home.)

Global Insight’s Country Analysis spans 202 countries and includes same-day analysis, country
reports, special reports, in-focus, global data from IMF, country risk ratings, and sovereign risk
ratings.


© 2008 Global Insight Inc. All rights reserved.

Page 21 of 43
Rallis, A. (2008, September 15). Country Intelligence: Iran: Country Reports:
Economic: Economic Structure and Context: Monetary System. Retrieved September
26, 2008, from Global Insight: World Markets Research Center database.




ISI Emerging Markets Express
(Available at all libraries and from home.)

ISI Emerging Markets Express provides comprehensive company information, news and country
indicators from Asia, Europe, Africa, Middle East and Latin America.


© 2001, 2002, 2003, 2004, 2005, 2006 Internet Securities, Inc. All rights reserved.

AIA Malaysia gets international takaful licence. (2008, September 23). In The Edge
Financial Daily. Retrieved September 26, 2008, from ISI Emerging Markets Express
database.




MarketLine Business Information Center
(Available at the National Library only.)

MarketLine offers a comprehensive and unique collection of information in a variety of user-
friendly formats, including interactive reports and databases on companies, industries and
countries. It helps patrons to build an understanding of markets, whether they are researching
for new business ideas, marketing plans or job opportunities.


© MarketLine. All rights reserved.

Page 22 of 43
Maybank Islamic rolls out new Islamic credit card series. (2008, August 26).
Retrieved September 26, 2008, from MarketLine Business Information Center
database.




Mintel Oxygen
(Available at the National Library only.)

Mintel Oxygen is a one-stop online platform, designed to provide information about the latest
market developments and newest consumer trends. The database covers mainly the U.S. and
European markets.


© Mintel Group. All rights reserved.

Clark, T. (2008, July 31). Shari'a-compliant finance - can it hit the mainstream?
Retrieved September 26, 2008, from Mintel Oxygen database.

“Consumer research conducted for Mintel's Niche Finance report suggests that
Islamic finance products could have a golden future.”















Page 23 of 43
Newsbank
(Available at the libraries and from home.)

Newsbank provides full-text content of local and regional newspapers, including the Straits
Times and the Business Times. Each newspaper has its own distinctive focus offering a variety
of viewpoints on local and world issues. Paid advertisements are excluded.


© NewsBank Inc. All rights reserved.

Vanguard (Nigeria) - AAGM: Islamic Banking Makes Headway in Global Finance-
IMF. (2008, May 26). Retrieved September 26, 2008, from Newsbank database.




Proquest 5000 international
(Available at all libraries and from home.)

ProQuest is a database that has a wide offering of datasets. Prominent datasets include
ABI/INFORM and Wilson’s Social Sciences Index. Subject coverage includes Business,
Accounting and Tax, Applied Science and Technology, Banking, Health, General Science,
Computing, Education, Pharmaceuticals, Medicine, Religion and Social Science.


© 2008 ProQuest LLC. All rights reserved.

Page 24 of 43
Obiyo, O. C. (2008). Islamic financing/banking in the Nigerian economy; Is it
workable? A review of related issues and prospects. In International Journal of
Islamic and Middle Eastern Finance and Management, 1(3). Retrieved September
26, 2008, from Proquest 5000 international database.




Websites


Title: International Monetary Fund
Retrieved: September 26, 2008
URL: http://www.imf.org/
Description: The IMF is an international organization of 185 member countries. It was
established to promote international monetary cooperation, exchange
stability, and orderly exchange arrangements. Type ‘Islamic banking’ to
search its publications, and results include [Study Shows Larger Islamic
Banks Need Prudential Eye], and [Islamic Financial Institutions and
Products in the Global Financial System: Key Issues in Risk
Management and Challenges Ahead].



© International Monetary Fund. All rights reserved.










Page 25 of 43
Title: Islamic Chamber Of Commerce and Industry
Retrieved: September 26, 2008
URL: http://iccionline.net/en/Default.aspx
Description: The Islamic Chamber of Commerce and Industry is an affiliated organ of
the Organization of Islamic Conference (OIC). It represents the private
sector of 57 member countries, and one of its many objectives includes
encouraging cooperation in Islamic banking business and facilitating
capital mobility.



© 2006 Islamic Chamber Of Commerce And Industry. All rights reserved.


Title: Islamic Corporation for the Development of the Private Sector (ICD)
Retrieved: September 26, 2008
URL: http://www.icd-idb.com/
Description: The Islamic Corporation for the Development of the Private Sector is a
multilateral organization, affiliated with the Islamic Development Bank
(IDB) Group. It was established to complement IDB through the
development and promotion of the private sector, with the objectives to:
(i) identify investment opportunities in the private sector in the member
countries so as to accelerate economic growth, (ii) provide a wide range
of Shari'ah compatible financial products and services, and (iii) expand
access to Islamic capital markets by private companies in member
countries.



© ICD 2008. All rights reserved.

Page 26 of 43
Title: Islamic Research and Training Institute (IRTI)
Retrieved: September 26, 2008
URL: http://www.irti.org/
Description: The Islamic Research and Training Institute is a member of the Islamic
Development Bank, and was established to undertake research and
provide training and information services in member countries and
Muslim communities in non-member countries to help bring their
economic, financial and banking activities into conformity with Shari'ah,
and to further accelerate economic development and enhance
cooperation amongst them.



© IRTI 2007. All rights reserved.


Title: Statistical, Economic and Social Research and Training Centre for
Islamic Countries (SESRIC)
Retrieved: September 26, 2008
URL: http://www.sesrtcic.org/index.php
Description: SESRIC, also known as the Ankara Centre, is a subsidiary organ of the
Organisation of the Islamic Conference (OIC). One of its many activities
is to act as the research arm of the OIC. Type ‘Islamic banking’ to
search its publications, and results include [Islamic Banking Theory and
Practice: A Survey and Bibliography of the 1995-2005 Literature], and
[Efficiency of Islamic Banking in Malaysia: A Stochastic Frontier
Approach].



© SESRIC 2008. All rights reserved.

Page 27 of 43
Title: The World Bank
Retrieved: September 26, 2008
URL: http://www.worldbank.org/
Description: The World Bank is a vital source of financial and technical assistance to
developing countries around the world. Type ‘Islamic banking’ to search
its publications, and results include [An Application of Islamic Banking
Principles to Microfinance: Technical Note], and [Islamic Banking: A
Unique Differentiation Strategy for Gulf Financial Institutions].



© 2008 The World Bank Group. All rights reserved.


Page 28 of 43





















Practices





























Page 29 of 43
Practices
The following resources provide an insight into the practices, products and services in Islamic
banking and finance.


Books


Title: Islamic banking: A practical perspective
Author: Kamal Khir, Gupta, Lokesh and Bala Shanmugam
Publisher: Petaling Jaya, Selangor: Pearson Malaysia, 2008
Call number: RBUS 332.1091767 KAM

Description: This book discusses the various products
provided by Islamic financial institutions, the
practices of Islamic deposits and Islamic
contracts. It also provides comparative analyses
of Islamic banking products and services in
different countries.

All rights reserved. Petaling Jaya,
Selangor: Pearson Malaysia, 2008


Title: Islamic finance: A practical guide
Author: Ali, Rahail (Ed.)
Publisher: London: Globe Business Publishing, 2008
Call number: RBUS 332.091767 ISL

Description: This book covers the practical application of
Islamic finance with a section devoted to equity
and funds. The section includes an overview of
Islamic private equity funds, a lesser-known area
of Islamic finance.

All rights reserved. London: Globe
Business Publishing, 2008


Title: Islamic banking & finance law
Author: Lee, Mei Pheng and Detta, Ivan Jeron
Publisher: Petaling Jaya, Selangor Darul Ehsan : Pearson
Longman, 2007
Call number: RSEA 340.59 LEE

Description: This book discusses the concepts and
applications of Islamic banking and finance law
with an emphasis on the provision of deposit
accounts, credit and other banking facilities.

All rights reserved. Petaling Jaya,
Selangor Darul Ehsan : Pearson
Longman, 2007





Page 30 of 43
Title: A mini guide to Shari'ah audit for Islamic
financial institutions
Author: Syed Alwi Mohamed Sultan
Publisher: Malaysia: Cert Publications, 2007
Call number: RSEA 657.45091767 ALW

Description: This guide provides an introduction to, and
overview of the Shari’ah audit framework and
Shari’ah governance. It also highlights some of
the challenges faced in implementing it.

All rights reserved. Malaysia: Cert
Publications, 2007


Title: Understanding Islamic finance
Author: Ayub, Muhammad
Publisher: Hoboken, NJ: John Wiley & Sons, 2007
Call number: RBUS 332.091767 AYU

Description: This book gives an insight into the various
products and procedures of Islamic finance such
as murabaha and musawamah, ijarah and takaful.
It also discusses the issues arising from the
adoption of these practices and the provision of
these products.
All rights reserved. Hoboken, NJ:
John Wiley & Sons, 2007


Title: Credit cards from the Islamic legal perspective
Author: Kante, Aboubacar Salihou
Publisher: Petaling Jaya, Selangor, Malaysia: Ilmiah
Publishers, 2006
Call number: RSEA 332.76509595 KAN

Description: This book provides a comprehensive view of the
main issues surrounding credit transactions from
the Islamic point of view. It also looks at Islamic
credit cards in the context of Malaysia.

All rights reserved. Petaling Jaya,
Selangor, Malaysia: Ilmiah
Publishers, 2006











Page 31 of 43

Title: A mini guide to accounting for Islamic
financial products: A primer
Author: Syed Alwi Mohamed Sultan
Publisher: Malaysia: CERT Publications, 2006
Call number: RSEA 332.091767 SYE

Description: This guide provides an overview of the
development of accounting standards for Islamic
financial products by the Accounting and Auditing
Organization for Islamic Financial Institutions
(AAOIFI). It also discusses some of the
accounting issues addressed by AAOIFI and
highlights the main differences in the way Islamic
financial institutions present their financial
statements.

All rights reserved. Malaysia: CERT
Publications, 2006


Title: General takaful practice: Technical approach
to eliminate Gharar (uncertainty), Maisir
(gambling), and Riba' (usury)
Author: Muhaimin Iqbal
Publisher: Jakarta: Gema Insani, 2005
Call number: R 368.0088297 MUH

Description: This practical guide to takaful tackles the subject
without going into the technicalities of Shari’ah. It
provides an overview of the current
implementation of takaful in the conventional
financial markets.

All rights reserved. Jakarta: Gema
Insani, 2005




Databases


Bloomberg Professional Services
(Available at the National Library only.)

Bloomberg is a financial information network service that integrates data, news, analytics,
multimedia reports, and electronic trading. The service is used by market professionals around
the world, and is accessible via onsite Bloomberg terminals.


© Bloomberg L.P. All rights reserved.

Page 32 of 43
Type ‘GIIS’ for CTRB The International FTSB Global Islamic Index Series. This
displays the International Investor’s (TII) FTSB Global Islamic Index Series. The
series, developed in conjunction with the FTSB International includes global equities,
the Americas, Europe, the Pacific Basin, and South Africa. These benchmark indices
are designed to track the performance of leading publicly traded companies whose
activities are consistent with Islamic Sharia law




ID News Centre
(Available at all libraries and from home.)

ID News Centre offers access to leading insurance publications such as Insurance Day, World
Insurance Report, the Re Report and The Review. (Instructions: At Idnewscentre.com’s home
page, type in any email address and click ‘enter’).


© IDnewscentre.com 2008. All rights reserved.

The business of process administration in the takaful market. (2008, September 22).
In World Insurance Report. Retrieved September 26, 2008, from ID News Centre
database.















Page 33 of 43
i-Financial.com
(Available at all libraries and from home.)

i-Financial.com offers research services from Informa covering finance topics such as:
Regulation and Compliance, Tax and Accounting, International Trade Finance, International
Payments and Pension. (Instructions: At i-Financial.com’s home page, type in any email address
and click ‘enter’)


© Informa UK Limited. All rights reserved.

Goddard, C. (2008, June 1). A strange case of equality. In Financial Instruments Tax
and Accounting Review. Retrieved September 26, 2008, from i-Financial.com
database.

“HMRC introduced the Alternative Finance Rules in order to remove an area for
discrimination against Islamic finance. Charles Goddard sets out the case against
recent proposals from HMRC to scale back the availability of that relief.”




i-Law.com
(Available at all libraries and from home.)

i-Law.com offers access to leading legal publications such as Arbitration Law, Copyright World,
Intellectual Property Decisions, and Lloyd’s Law Reports Plus etc. Specific areas of practice
include: Maritime & Commercial Law, Competition Law, Insurance Law, Construction Law,
Intellectual Property Law and Arbitration. (Instructions: At I-Law.com’s home page, type in any
email address and click ‘enter’).


© Informa UK Limited. All rights reserved.

Page 34 of 43
Takaful premiums set to double by 2010. (2008, April 4). In Informa's Insurance
News, 24. Retrieved September 26, 2008, from i-Law.com database.




Kompass
(Limited to 6 concurrent access only. Available at all libraries.)

Kompass contains 1.8 million companies in over 75 countries. Search by product and service
categories, company name, trade name and geographical region. View full company profiles,
including the names of 3.6 million executives and financial data where available. ݓ࠽ूஂථඔ
ऌ९ݣႵᇏݓ۽അఒြྐ༏଀੣bऎุྐ༏Їওğ܄ඳۀঃđབྷ༥ೂ৳༢ٚൔđӁ௖ބڛༀྐ
༏đڵᄳದྠ଀֩bູഅࡅิ܂ሙಒࠣൈ֥ᇏݓఒြࠣఃӁ௖ྐ༏b


©2008 Kompass. All rights reserved.

[Dubai Islamic Bank] found using the keyword ‘banking’ in “Search in the Kompass
classification” and search within Iran and UAE.











Page 35 of 43
OneSource
(Available at all libraries and from home.)

OneSource offers profiles of public and private companies worldwide. It also has financial
analysis, peer listings/comparisons and market research reports. Remote users will only have
access to a narrower range of company profiles and news articles search functions.


© 2008 OneSource Information Services, Inc. All rights reserved.

Lim, S. L. (2008, August 29). RHB Capital Bhd. DBS Vickers Securities. Retrieved
September 26, 2008, from OneSource database.




Websites

Title: AME Info - Banking
Retrieved: September 26, 2008
URL: http://www.ameinfo.com/banking/
Description: AME Info is a provider of online business information about the Middle
East region, covering Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait,
Lebanon, Oman, Palestine, Qatar, Syria, Saudi Arabia, United Arab
Emirates and Yemen.



© International Monetary Fund. All rights reserved.

Page 36 of 43
Title: Finacle - Core Banking, Mobile Banking, Islamic Banking Solutions
Retrieved: September 26, 2008
URL: http://www.infosys.com/finacle/solutions/solutions_islamicbanking
.asp
Description: Finacle from Infosys offers IT-driven Islamic banking solutions for banks
to define and present Shari'ah-compliant products to its customers. The
full-text ‘Case Studies’ and ‘Thought Papers’ are useful, e.g. [Risk &
Compliance Management in Islamic Banking], and [Islamic Banking: The
Emerging Experience].



© 2008 Infosys Technologies Limited. All rights reserved.


Title: The Gulf Directory
Retrieved: September 26, 2008
URL: http://www.gulfdirectory.com.bh/ypindex.asp
Description: The Gulf Directory provides easy access to business information on
establishments in the Gulf Cooperation Council (GCC). Type ‘bank’ to
search.



© Tele-Gulf Directory Publications BSC (C). All rights reserved.

Page 37 of 43
Title: Islamic Banks and Financial Institutions Information (IBIS)
Retrieved: September 26, 2008
URL: http://www.ibisonline.net/
Description: This Islamic Research and Training Institute (IRTI) portal provided by
the Islamic Banks and Financial Institutions Information is targeted at the
community of researchers and finance professionals working in the area
of Islamic economics and finance. The ‘Banks’, ‘Institutions’, and ‘Who's
Who’ databases are very useful.



© 2005 - 2008 IBIS – Islamic Banks and Financial Institutions. All rights reserved.


Title: Islamic Corporation for the Insurance of Investments and Export
Credits (ICIEC)
Retrieved: September 26, 2008
URL: http://www.iciec.com/
Description: The Islamic Corporation for the Insurance of Investment and Export
Credit is a member of the Islamic Development (IDB) Group. It was
established with the objective to provide investment and export credit
insurance for Islamic Countries originated from the Agreement for the
Promotion, Protection and Guarantee of Investment among Member
Countries of the Organization of the Islamic Conference (OIC). It offers:
(i) Export Credit Insurance to cover the risk of nonpayment in relation
with cross border trade and trade finance transactions, (ii) Investment
Insurance to cover country risk in the relation with foreign investments
among member countries, and (iii) Reinsurance of operations covered
by Export Credit Agencies in member countries.



© ICIEC 2007. All rights reserved.

Page 38 of 43
Title: Middle East Directory
Retrieved: September 26, 2008
URL: http://www.middleeastdirectory.com/
Description: The Middle East Directory lists the internet-related services in United
Arab Emirates and the Middle East. Click on ‘Business & Finance’ to
view.



© 1997-2008 MiddleEastDirectory.com. All rights reserved.


Title: MiddleEastEvents.com
Retrieved: September 26, 2008
URL: http://www.middleeastevents.com/site/index.asp
Description: The MiddleEastEvents.com directory covers events, exhibitions, trade
shows, etc in Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon,
Oman, Palestine, Qatar, Saudi Arabia, Syria, Turkey, United Arab
Emirates and Yemen. Click on ‘Business and Economy’ for [Event
Category] to view.



© 1996-2008 MiddleEastEvents.com. All rights reserved.

Page 39 of 43
Title: Zawya.com - Financial Services - Middle East Directory
Retrieved: September 26, 2008
URL: http://www.zawya.com/financial_services/
Description: Zawya is a Middle East business information company and this website
covers extensive business news and financial information on the
companies in the Middle East. The ‘Company Ranking’ is useful, and
selected reports are freely available in full-text.



© 2008 ABQ Zawya Ltd. All rights reserved.





Page 40 of 43























Major Institutions,
Country / Regional Focus



























Page 41 of 43
Major Institutions, Country / Regional Focus
The following resources highlight major institutions in Islamic banking and finance as well as
examine the industry in the context of various countries and regions.


Books & Periodical


Title: Introduction to Islamic finance
Author: Saw, Swee Hock and Wang, Karyn
Publisher: Singapore: Saw Centre for Financial Studies,
2008
Call number: RSING 332.091767 SAW

Description: This book provides an overview of Islamic finance
in general as well as in the context of Singapore.
It highlights the industry’s development and the
various products available in Singapore and also
touches on Singapore’s overall strategy.
All rights reserved. Singapore: Saw
Centre for Financial Studies, 2008


Title: Handbook of Islamic banking
Author: Hassan, M. Kabir (Ed.) and Lewis, Mervyn K.
(Ed.)
Publisher: Cheltenham, U.K.; Northampton, Mass.: Edward
Elgar, 2007
Call number: RBUS 332.1091767 HAN

Description: This book highlights the major international
infrastructure institutions supporting the Islamic
financial industry with a focus on their objectives,
structure and activities. It also provides an
overview of the major Islamic financial centres.

All rights reserved. Cheltenham,
U.K.; Northampton, Mass.: Edward
Elgar, 2007


Title: The principles and practice of Islamic banking
& finance
Author: Mohd Nasir Mohd Yatim and Amirul Hafiz Mohd.
Nasir
Publisher: Selangor, Malaysia: Prentice Hall/Pearson
Malaysia Sdn Bhd, 2007
Call number: RSEA 332.1091767 MOH

Description: This book looks at Islamic banking and financial
investment instruments in the context of Malaysia.
The topics discussed include business zakat,
Islamic unit trust and Islamic stock-broking.

All rights reserved. Selangor,
Malaysia: Prentice Hall/Pearson
Malaysia Sdn Bhd, 2007






Page 42 of 43
Title: Islamic banking, finance, and insurance: A
global overview
Author: Ahmed, Salahuddin
Publisher: Gombak, Kuala Lumpur: A.S. Noordeen, 2006
Call number: RBUS 332.1091767 AHM

Description: This book provides an overview of the status of
Islamic banking by country as well as background
information on the major Islamic banking
institutions within these countries.

All rights reserved. Gombak, Kuala
Lumpur: A.S. Noordeen, 2006


Title: Islamic banking & finance in South-East Asia:
Its development & future
Author: Venardos, Angelo M.
Publisher: Singapore: World Scientific, 2006
Call number: RSING 332.10959 VEN

Description: This book discusses the challenges faced by
Islamic banking and highlights the practices and
products of Islamic banking in Malaysia, Labuan,
Indonesia, Brunei and Singapore.

All rights reserved. Singapore: World
Scientific, 2006


Title: The Malaysian financial system: An overview
Author: M. Fazilah Abdul Samad (Ed.)
Publisher: Kuala Lumpur, Malaysia: University Malaya Press,
2006
Call number: RSEA 332.1709595 MAL

Description: This collection of papers examines the various
aspects and issues in Islamic finance in the
Malaysian context. The areas examined include
the Malaysian derivatives market, insider trading
and the regulatory changes and consolidation of
the Malaysian banking sector.

All rights reserved. Kuala Lumpur,
Malaysia: University Malaya Press,
2006














Page 43 of 43
Title: Islamic finance
Publisher: Hong Kong: Asia Law & Practice
Call number: RBUS 332.1091767 IF

Description: This periodical provides a brief overview of Islamic
finance and discusses its practice and the issues
arising from its practice in countries such as the
United Arab Emirates and Malaysia.

All rights reserved. Hong Kong: Asia
Law & Practice




By Elizabeth Lam and Nor Aishah Binte Mohamed Rashid, National Library Singapore.
For further assistance, please email: ref@nlb.gov.sg or SMS: +65 9178 7792.

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