Islamic Finance: Principles and Practice

Research output: Book / ReportBookAcademicpeer-review


This book covers recent developments and explores tensions between belief systems and market demands, to consider the future of Islamic finance in the modern marketplace.
In this heavily revised third edition, I review the numerous products, institutions and markets offered by Islamic finance, situating them in the competitive contemporary environment. I question the conceptual differences that have been established between Islamic finance and conventional finance, drawing attention instead to how the former imitates the latter. I offer a critical assessment of the claims of the ethical superiority of Islamic finance frequently made by its advocates and I further discuss the ways in which fiscal and monetary policy can be adapted to Islamic financial institutions.
Original languageEnglish
Place of PublicationCheltenham, UK and Northampton, MA, USA
PublisherEdward Elgar
Number of pages296
ISBN (Electronic)9781786433503
ISBN (Print)9781786433497
Publication statusPublished - Dec 2019


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