Islamic Finance In The Global Economy: Second Edition, Revised And Updated

Book Summary

This book presents a unique analysis of letter writing in the Middle Islamic period. This was an important aspect of intellectual life among the ruling classes in that period and it can tell us a great deal about the cultural history of the time. The author sets epistolography within a wider context, drawing on similarities between Islamic modes of letter writing and those of Western cultures. He ties in the crucial notion of the power of the pen in Islamic society with epistemological trends and relationships of dependency among the bureaucracy. "A well-researched and concise book on a fluid, complex, and sometimes misjudged concept."-- "MESA Bulletin" Islamic finance has grown at an annual rate that exceeds twenty percent a year and is now a two hundred billion dollar industry operating in more than seventy countries. A best-selling text that introduces the role of Islamic finance in the global economy, this book unravels the paradox of a thriving system rooted in medieval practice. It defines Islamic finance in its broadest sense, including banks, mutual funds, securities firms, and insurance companies. Ibrahim Warde situates Islamic finance within global political and economic systems and addresses core issues, such as the moral economy of Islam, differences between Pakistan, Iran, the Sudan, and Malaysia, and religious issues and challenges. This revised edition accounts for recent changes and developments. It thoroughly traces the evolution of Islamic finance, explores its significance from historical and comparative perspectives, and considers strategic, marketing, managerial, political, economic, regulatory, and cultural challenges currently facing Islamic institutions.

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