Search Results for "saudi-capital-market-development-and-challenges-international-banking-and-finance-law"

Saudi Capital Market

Saudi Capital Market

Development and Challenges

  • Author: Bader Alkhaldi
  • Publisher: Aspen Publishers
  • ISBN: 9789041183514
  • Category: Law
  • Page: 300
  • View: 8508
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International Banking and Finance Law Series Volume 31 Saudi Capital Market: Developments and Challenges provides an accurate independent assessment of the Saudi economy and the development of its capital market. A thriving capital market, one that not only brings investment funds into a country but also distributes profits in a transparent matter, is essential for any economy, especially a rapidly developing one such as Saudi Arabia. Already a key player on the world stage, the Kingdom is going through major planned economic transformation and diversification. In particular, a robust and transparent capital market, with a high level of integrity and sound enforcement, is well on the way to fruition. This book is the first in English to analyze and evaluate the roles of economic planning and a capital market in Saudi Arabia's economic modernization. What's in this book: In the process of examining the level of transparency and fairness in Saudi Arabia's capital market, the author provides detailed information and analysis of such issues and topics as the following: market disclosure rules; insider trading laws; gaps in enforcement; dispute resolution; role of securities agencies; Saudi Arabia's position in international organizations; and repercussions of the 2006 Saudi stock market collapse. The author draws on a wide range of sources in both English and Arabic and concludes with well-grounded proposals for appropriate judicial, administrative, and enforcement policies. How this will help you: This book compares and contrasts the Saudi capital market with other capital market systems. Given the relative lack of literature in this area, this book serves as a bridge to gain useful resources at a practical, policy-making and academic level, especially for non-Saudis looking for legal knowledge and investment opportunities in the Kingdom. The information contained in this publication on the investment climate and applicable rules in Saudi Arabia serves as a useful handbook for lawyers and policymakers, as well as investors and attorneys, and other advisors with an eye on trade development in the Middle East to understand the Saudi capital market, its developing trends, and applicable laws.

Emerging Capital Markets and Globalization

Emerging Capital Markets and Globalization

The Latin American Experience

  • Author: Augusto de la Torre,Sergio Schmukler
  • Publisher: World Bank Publications
  • ISBN: 9780821365441
  • Category: Business & Economics
  • Page: 228
  • View: 9138
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Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

Asian Capital Market Development and Integration

Asian Capital Market Development and Integration

Challenges and Opportunities

  • Author: Asian Development Bank,Korea Capital Market Institute
  • Publisher: N.A
  • ISBN: 9780198099451
  • Category: Capital market
  • Page: 530
  • View: 6842
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The fiscal crisis in Europe continues to cast a shadow on the global economic outlook, and the securities issued by the United States and European nations are losing their status as traditional safe assets and reserve value. As a result, investors and governments are looking to diversify their investment portfolio with emerging markets, particularly Asian bonds. Such renewed interest has led to excessive capital inflows, making the region increasingly vulnerable to external shocks. However, on the other hand, it leads to abundant liquidity in the capital markets, which reduces financing costs and expands investment opportunities. This book analyses this dilemma and proposes that development of local bond markets and achieving greater market depth and interconnectedness is the best bet to prevent the reoccurrence of a currency crisis like 1997. It thus, assesses the progress achieved thus far in capital market integration in Asia, and compares it with its global peers. Thestudy also assesses the degree to which volatility in equity and bond market returns, driven by financial turmoil originating at both the regional and global levels, spills over into emerging Asia domestic equity and bond markets. The results of this analysis indicate that such spill-over significantly impacts both domestic equity and bond markets in the region. This finding suggests that on-going regional capital market integration initiatives should take into account the risk of contagion that regional financial integration presents, and introduce measures for mitigating such risk as a means of ensuring financial stability in the region.

China’s Capital Markets

China’s Capital Markets

  • Author: Yong Zhen
  • Publisher: Elsevier
  • ISBN: 1780633602
  • Category: Business & Economics
  • Page: 298
  • View: 1389
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Capital markets in China include stock, bond, futures and other derivatives, as well as the private equity market. China’s Capital Markets is the first book to systematically study China’s capital markets, examining its evolution, policies, reforms, current situation and challenges. Following an introduction to China’s capital markets and economic growth, the book moves on to cover further capital markets in China, including: the banking system, mergers and acquisitions, and valuation adjustment mechanisms, before concluding with a discussion of the opening up and internationalization of China’s capital markets. Provides an overall picture of China's capital markets including: policy analysis; case studies; investor strategies and behaviours; and suggestions for success in the markets Offers diverse perspectives, using rich data and analysis This is the first book to systematically study China’s capital markets

The Legal and Regulatory Aspects of Islamic Banking

The Legal and Regulatory Aspects of Islamic Banking

A Comparative Look at the United Kingdom and Malaysia

  • Author: Abdul Karim Aldohni
  • Publisher: Routledge
  • ISBN: 1136703152
  • Category: Business & Economics
  • Page: 264
  • View: 1081
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During the last ten years the Islamic banking sector has grown rapidly, at an international level, as well as in individual jurisdictions including the UK. Islamic finance differs quite substantially from conventional banking, using very different mechanisms, and operating according to a different theory as it is based on Islamic law. Yet at the same time it is always subject to the law of the particular financial market in which it operates. This book takes a much-needed and comprehensive look at the legal and regulatory aspects which affect Islamic finance law, and examines the current UK and international banking regulatory frameworks which impact on this sector. The book examines the historical genesis of Islamic banking, looking at how it has developed in Muslim countries before going on to consider the development of Islamic banking in the UK and the legal position of Islamic banks within English law. The book explores company, contract, and some elements of tax law and traces the impact it has had on the development of Islamic banking in the UK, before going on to argue that the current legal and regulatory framework which affects the Islamic banking sector has on certain occasions had an unintended adverse impact on Islamic banking in the UK. The book also provides an overview of the Malaysian experience in relation to some of the main legal and regulatory challenges in the context of Islamic banking and finance.

Islamic Capital Markets and Products

Islamic Capital Markets and Products

Managing Capital and Liquidity Requirements Under Basel III

  • Author: Simon Archer,Rifaat Ahmed Abdel Karim
  • Publisher: John Wiley & Sons
  • ISBN: 1119218810
  • Category: Business & Economics
  • Page: 328
  • View: 8080
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Ensure Basel III compliance with expert analysis specific to Islamic Finance Islamic Capital Markets and Products provides a thorough examination of Islamic capital markets (ICM), with particular attention to the products that they offer and the legal and regulatory infrastructure within which they operate. Since Islamic banks act as asset managers, attention is paid to the regulatory challenges which they face in the light of Basel III, as regards both eligible capital and liquidity risk management. The authors of the chapters are professionals and practitioners, and write from experience. The editors also contributed to some of the chapters. The markets and products covered include Islamic equities, Islamic investment certificates (Sukūk) which are Shari'ah compliant alternatives to conventional bonds, and Islamic Collective Investment Schemes. The coverage of legal and regulatory issues includes an examination of the implications for ICM of securities laws and regulations and of Basel III, as well as collateralisation issues. Shari'ah compliance aspects, in terms both of the selection criteria for Islamic equities and of the 'purification' of impermissible components of income, are also examined in some detail, as are the implications of Basel III for eligible capital in general and for Shari'ah compliant capital instruments in particular. A similar analysis is also made of the implications of the Basel III requirements for liquidity risk management and high quality liquid assets (HQLA), including Shari'ah compliant HQLA. The book concludes with three case studies, two describing the ICM in Malaysia and Bahrain and a third which describes Sukūk issued as Shari'ah compliant capital instruments, followed by brief concluding remarks by the editors.

Handbook on Islam and Economic Life

Handbook on Islam and Economic Life

  • Author: M. Kabir Hassan,Mervyn K. Lewis
  • Publisher: Edward Elgar Publishing
  • ISBN: 1783479825
  • Category: Religion
  • Page: 736
  • View: 1444
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øHandbook on Islam and Economic Life is a unique study, one of the first of its kind to consider Islam within a broader economic sphere. Covering a wide breadth of topics and research, it explores how Islam impinges upon and seeks to shape major aspect

Islamic Finance and Africa's Economic Resurgence

Islamic Finance and Africa's Economic Resurgence

Promoting Diverse and Localized Investment

  • Author: Muhammad Al Bashir Muhammad Al Amine
  • Publisher: Springer
  • ISBN: 3319288350
  • Category: Business & Economics
  • Page: 384
  • View: 3594
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This book analyzes Africa's unprecedented economic growth, the state of its financial sector, and the varied opportunities for Islamic finance investors. It considers the role - potential and realized - of Islamic finance in fostering financial inclusion in areas such as banking, microfinance, capital market development, insurance, and private equity business. The book stresses that investing in Africa through Islamic finance will open new markets, ensure higher profit margins, diversify risk, and create business competition; and that these changes that will provide financial products that can satisfying the desires and beliefs of all consumers and unlock the real potential of the continent's financial system. The book also looks into the rise of international interest in Africa and concludes by scrutinizing the challenges impeding further economic growth, as well as the specific barriers that need to be addressed in order to promote the implementation of Islamic finance. Investors, policymakers, and academics ready to confront these challenges will find much of value in this book.

Capital Market Reform in Asia

Capital Market Reform in Asia

Towards Developed and Integrated Markets in Times of Change

  • Author: Masahiro Kawai,Andrew Sheng
  • Publisher: SAGE Publications India
  • ISBN: 8132116984
  • Category: Business & Economics
  • Page: 396
  • View: 5435
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Capital Market Reform in Asia is a compilation of selected papers that captures the essence of the issues and challenges that contributed to capital market reform in the Asian region. The central theme of this volume is to chart the progress of capital market development in Asia after the 1997–1998 Asian financial crisis, to understand the complex process of capital market deepening in emerging market economies, and to acknowledge that in the aftermath of the global financial crisis of 2007–2009, robust Asian capital markets are crucial for mobilizing domestic savings for investments in Asia, both nationally and regionally. The book provides new insights into several important themes in capital market reforms in asia and is written by Asian financial policymakers, practitioners, scholars and experts invited by the organisation for Economic Co-operation and Development (OECD) and the Asian Development Bank Institute (ADBI).

The Saudi Arabian Economy

The Saudi Arabian Economy

Policies, Achievements, and Challenges

  • Author: Mohamed A. Ramady
  • Publisher: Springer Science & Business Media
  • ISBN: 9781441959874
  • Category: Business & Economics
  • Page: 512
  • View: 4846
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The Saudi Arabian economy has changed almost beyond recognition since the oil boom days of the 1980s, and the Kingdom itself has changed too economically, socially, and demographically. In the second edition of The Saudi Arabian Economy, Mohamed Ramady uses several overlapping themes to establish and develop a framework for studying the fundamental challenges to the Saudi economy. Particular attention is paid to the benefits of short-term planning and long-term diversification intended to shield the economy from potentially de-stabilizing oil price fluctuations and the pace and diversity of domestic reforms. The author examines the core strengths and evolution of various financial institutions and the Saudi stock market in the face of globalization, before analyzing the private sector in detail. Topics discussed include: • The hydrocarbon and minerals sector, including the emergence of the competitive petrochemical sector • The impact of small and medium sized businesses and the evolving role of “family” businesses • The growing role of women in the Saudi economy • The role of privatization and FDI as engines of change and the position of public-private-partnerships • The establishment of a foundation for a knowledge-based economy Finally, the author offers an analysis of the key challenges facing the Saudi economy, paying particular attention to the potential costs and benefits of globalization, and membership in the WTO. Employment, education, economic and social stability, and Saudi Arabia’s place in the Gulf Cooperation Council, as well as Saudi Arabia’s evolving strategic economic relations with China and other countries are offered as keys to the consensus building needed to ensure the Kingdom’s healthy economic future.

An Overview of Islamic Finance

An Overview of Islamic Finance

  • Author: Mr. Mumtaz Hussain,Asghar Shahmoradi,Rima Turk
  • Publisher: International Monetary Fund
  • ISBN: 1513561480
  • Category: Business & Economics
  • Page: 35
  • View: 3879
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Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.

Islamic Banking and Finance in South-East Asia

Islamic Banking and Finance in South-East Asia

Its Development & Future

  • Author: Angelo M. Venardos
  • Publisher: World Scientific
  • ISBN: 9814350435
  • Category: Business & Economics
  • Page: 264
  • View: 1086
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Islamic Banking and Finance in South-East Asia by Angelo M Venardos has been a OC must readOCO since its first edition in 2005 and has already been translated to Arabic. Now in its 3rd edition, the book offers important updates you can look forward to, starting with the foundations of Islamic banking, developments and issues. The reader is then treated to a timely survey of Islamic banking in five South-east Asian countries. Most of these chapters have been completely revamped from the last edition. One additional chapter has been added on Islamic Succession Planning, which introduces an increasingly essential aspect of Muslim life OCo that of managing one''s wealth now and in the afterlife. Whether you are new to the topic or a practitioner in the industry, you will appreciate the accessible way in which the book is written. According to the Asian Journal of Comparative Law, the book gives a broad overview yet OC manages to achieve this in a rather slim volume while providing depth of analysis at the same timeOCO."

Law and Finance after the Financial Crisis

Law and Finance after the Financial Crisis

The Untold Stories of the UK Financial Market

  • Author: Abdul Karim Aldohni
  • Publisher: Taylor & Francis
  • ISBN: 1317385586
  • Category: Business & Economics
  • Page: 146
  • View: 9060
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The 2008 financial crisis has become one of the defining features of the twenty first century’s first decade. The series of events which unfolded in the aftermath of the crisis has exposed major structural flaws in many of the financial systems around the globe, triggering a global call for legal and regulatory reforms to address the problems that have been uncovered. This book deals with a neglected angle of the 2008 financial crisis looking in-depth at the implicit effects of the 2008 crisis on the UK financial market. The book considers new trends in finance which have emerged since the crisis as well as the challenges faced by some older practices in the UK financial markets. After providing a reflective account of the history of law and creditors in the UK the book investigates the proliferation of certain forms of financing that have recently become very visible parts of the UK financial market’s structure, such as high cost short term lending and peer to peer lending. It provides legal and economic accounts of these forms of alternative lending, charting their developments, current status and critically assesses their impact on the UK financial market. Also examined are the ongoing funding difficulties faced by Small and Medium Enterprises (SMEs) and the suitability of the UK current legal framework to support these institutions. The book goes on to look at the viability and safety of some other post crisis trends such as banks use of Contingent Convertible Bonds (CoCos) to improve their resilience.

Critical Issues and Challenges in Islamic Economics and Finance Development

Critical Issues and Challenges in Islamic Economics and Finance Development

  • Author: Velid Efendić,Fikret Hadzˇić,Hylmun Izhar
  • Publisher: Springer
  • ISBN: 3319450298
  • Category: Business & Economics
  • Page: 231
  • View: 8343
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This book explores contemporary issues and trends facing Islamic banks, businesses and economies as presented at the International Conference of Islamic Economics, Banking and Finance. The authors leverage current empirical research and statistics to provide unique and fresh perspectives on the changing world of Islamic finance. They focus specifically on to the implementation of Islamic financial instruments and services in global capital markets and how their success can be evaluated. Chapters feature case studies from all over the world including examples from Afghanistan, Bosnia and Herzegovina and the United Kingdom, to name a few. The breadth and immediacy of the research presented by the authors will appeal to practitioners and scholars alike. The global outlook and rich data-based approach adopted in this book guarantee that it is a timely and valuable addition to the field of Islamic finance.

Financial Development, Economic Crises and Emerging Market Economies

Financial Development, Economic Crises and Emerging Market Economies

  • Author: Faruk Ulgen
  • Publisher: Taylor & Francis
  • ISBN: 1317301633
  • Category: Business & Economics
  • Page: 244
  • View: 8695
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Recurrent crises in emerging markets and in advanced economies in the last decades cast doubt about the ability of financial liberalization to meet the aims of sustainable economic growth and development. The increasing importance of financial markets and financial efficiency criterion over economic decisions and policies since the 1980s laid down the conditions of the development process of emerging market economies. Numerous crises experienced thereafter gave rise to flourishing work on the links between financialization and economic development. Several decades of observations and lessons can now be integrated into economic and econometric models to give more sophisticated and multivariable approaches to financial development with respect to growth and development issues. In the markets-based and private-enterprise dominated world economy, two conditions for a successful growth-enhancing financial evolution can at least be brought fore: macroeconomic stability and consistent supervision. But even after the 2007-2008 global crisis, economists do not agree on the meaning of those conditions. For liberal and equilibrium-market economists, good finance and supervision mean market-friendly structures while for institutionalists, post-Keynesian and Marxist economists, good finance and supervision must lie in collectively designed and managed public structures. Drawing heavily on the tumultuous crises of the 1990s-2000s, this book argues that those experiences can shed light on such a crucial issue and lead economic theory and policy to go beyond the blindness of efficient free markets doctrine to economic catastrophes. It also points to new challenges to global stability in the wake of reconfiguration of international financial arena under the weight of major emerging market economies.

Global Financial Development Report 2017/2018

Global Financial Development Report 2017/2018

Bankers without Borders

  • Author: World Bank
  • Publisher: World Bank Publications
  • ISBN: 1464811962
  • Category: Business & Economics
  • Page: 178
  • View: 1021
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Successful international integration has underpinned most experiences of rapid growth, shared prosperity, and reduced poverty. Perhaps no sector of the economy better illustrates the potential benefits--but also the perils--of deeper integration than banking. International banking may contribute to faster growth in two important ways: first, by making available much needed capital, expertise, and new technologies; and second, by enabling risk-sharing and diversification. But international banking is not without risks. The global financial crisis vividly demonstrated how international banks can transmit shocks across the globe. The Global Financial Development Report 2017/2018 brings to bear new evidence on the debate on the benefits and costs of international banks, particularly for developing countries. It provides evidence-based policy guidance on a range of issues that developing countries face. Countries that are open to international banking can benefit from global flows of funds, knowledge, and opportunity, but the regulatory challenges are complex and, at times, daunting. Global Financial Development Report 2017/2018 is the fourth in a World Bank series. The report also tracks financial systems in more than 200 economies before and during the global financial crisis on an accompanying website (www.worldbank.org/financialdevelopment). **Note: This World Bank report, Global Financial Development Report 2017/2018: Bankers without Borders, is not associated with the Grameen Foundation’s Bankers without Borders program, which engages volunteer consultants to donate their expertise to serve social enterprises and nonprofits in poor countries. For more information, visit: https://www.bankerswithoutborders.com.

Innovative Financing for Development

Innovative Financing for Development

  • Author: Suhas Ketkar,Dilip Ratha
  • Publisher: World Bank Publications
  • ISBN: 9780821377062
  • Category: Business & Economics
  • Page: 216
  • View: 9678
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Developing countries need additional, cross-border capital channeled into their private sectors to generate employment and growth, reduce poverty, and meet the other Millennium Development Goals. Innovative financing mechanisms are necessary to make this happen. 'Innovative Financing for Development' is the first book on this subject that uses a market-based approach. It compiles pioneering methods of raising development finance including securitization of future flow receivables, diaspora bonds, and GDP-indexed bonds. It also highlights the role of shadow sovereign ratings in facilitating access to international capital markets. It argues that poor countries, especially those in Sub-Saharan Africa, can potentially raise tens of billions of dollars annually through these instruments. The chapters in the book focus on the structures of the various innovative financing mechanisms, their track records and potential for tapping international capital markets, the constraints limiting their use, and policy measures that governments and international institutions can implement to alleviate these constraints.

Banking and Financial Systems in the Arab World

Banking and Financial Systems in the Arab World

  • Author: P. Molyneux,M. Iqbal
  • Publisher: Springer
  • ISBN: 0230512127
  • Category: Business & Economics
  • Page: 336
  • View: 4131
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This book provides state-of-the art analysis of banking and financial systems in the Arab world. The early chapters of the text present an overview of Arab economies linking banking and financial sector trends in the Arab world over the last twenty years. The rest of the text examines in detail the financial systems of the major Arab countries, focusing on banking sector and capital market developments. This text will be the first to provide a rigorous analytical evaluation of banking sector developments in the Arab world.

Islamic Finance in Sub-Saharan Africa: Status and Prospects

Islamic Finance in Sub-Saharan Africa: Status and Prospects

  • Author: Mr. E. Gelbard,Mr. Mumtaz Hussain,Mr. Rodolfo Maino,Mr. Yibin Mu,Mr. Etienne B. Yehoue
  • Publisher: International Monetary Fund
  • ISBN: 1498375278
  • Category: Business & Economics
  • Page: 27
  • View: 7496
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Islamic finance is a fast growing activity in world markets. This paper provides a survey on Islamic Finance in SSA. Ongoing activities include Islamic banking, sukuk issuances (to finance infrastructure projects), Takaful (insurance), and microfinance. While not yet significant in most Sub-Saharan countries, several features make Islamic finance instruments relevant to the region, in particular the ability to foster SMEs and micro-credit activtities. As a first step, policy makers could introduce Islamic financing windows within the conventional system and facilitate sukuk issuance to tap foreign investors. The entrance of full-fleged Islamic banks require addressing systemic issues, and adapting the crisis management and resolution frameworks. The IMF can play a role by sharing international experiences and providing advice on supervisory and regulatory frameworks as needed.

Islamic Banking & Finance in South-East Asia

Islamic Banking & Finance in South-East Asia

Its Development & Future

  • Author: Angelo M. Venardos
  • Publisher: World Scientific
  • ISBN: 9812568883
  • Category: Business & Economics
  • Page: 238
  • View: 2682
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To truly understand the current interest in the development of Islamic banking and finance in South-East Asia and how it is different from the conventional banking system, one must first understand the religious relationship originating from the Qur'an, and then trace the historical geographic and political developments of Islam over recent centuries. Only on this basis can the reader, without prejudice or cynicism, begin to appreciate Shari'ah law and Islamic jurisprudence. With this platform established in the first part of the book, readers are invited to learn about the financial products and services offered, understand the challenges in their development, and ultimately recognize the significant opportunities that Islamic banking and finance can provide both Muslims and non-Muslims.This second edition contains updates of statistics and dates with regards to the development of Islamic banking in Malaysia, Singapore, Indonesia and Brunei. In particular, the chapter on Singapore details significant developments such as the direction which major banks are taking towards Islamic banking and the increase in Islamic banking products being offered.Although written by a non-Muslim author, this highly-regarded book is being translated into Arabic by a leading Islamic university in the Middle East.