Islamic Banking and Finance Critical Concepts in Economics Volume 1: Pre and Early Islamic Finance Contents Acknowledgements General Introduction -- Amer Al-Roubaie and Shafiq Alvi Introduction to volume 1 -- Murat Cizakca Part 1: Pre-Islamic Financial Setup Kenneth G. Hirth, 'Interregional Trade and the Formation of Prehistoric Gateway Communities', American Antiquity, 43, 1, 1978, pp. 35-45. Moshe Elat, 'The Economic Relations of the Neo-Assyrian Empire with Egypt', Journal of the American Oriental Studies, 98, 1, 1978, pp. 20-34. Robert McC. Adams, 'Anthropological Perspectives on Ancient Trade', Current Anthropology, 33, 1992, pp. 141-160. M. M. Postan, 'Credit in Medieval Trade', Economic History Review, 1, 1927-28, pp. 234-261 Philip L. Kohl, 'The Balance of Trade in Southwestern Asia in the Mid-Third Millennium BC', Current Anthropology, 19, 3, 1978, pp. 463-492. Md. Atiqur Rahman Khan Khadem, 'Mudaraba: An Ancient Mode of Finance', Journal of Islamic Banking and Finance, 22, 4, 2005, pp. 34-45. Peter Temin, 'Financial Intermediation in the Early Roman Empire', Journal of Economic History, 64, 3, 2004, pp. 705-733. Part 2: Early Islamic Financial System M. A. Sabzwari, 'Economic and Fiscal System during the Life of Holy Prophet (P.B.U.H.)', Journal of Islamic Banking and Finance, 1, 4, 1984, pp. 7-25. Michael Lecker, 'On the Markets of Medina (Yathrib) in Pre-Islamic and Early Islamic Times', Jerusalem Studies in Arabic and Islam, 8, 1986, pp. 133-147. Elias H. Tuma, 'Early Arab Economic Policies (1st/7th -- 4th/10th Centuries)', Islamic Studies, 4, 1, 1965, pp. 1-23. Mohammad Nejatullah Siddiqi, 'Public Borrowing in Early Islamic History', in The Role of the State in the Economy: As Islamic PerspectiveA (Leicester: The Islamic Foundation, 1996), pp. 77-78. Abraham L. Udowitch, 'Reflections on the Institution of Credit and Banking in the Medieval Islamic Near East', Studia Islamica, 41, 1975, pp. 5-21. Sabahuddin Azmi, 'Taxation Policy in Early Islam: The Pioneering Contribution of Abu Yusuf', Muslim and Arab Perspectives, 4, 7-12, 1997, pp. 263-282. Abdul-Rahim Al-Saati, 'The Permissible Gharar (Risk) in Classical Islamic Jurisprudence', Islamic Economics, 16, 2, 2003, pp. 3-19. Part 3: Islamic Economic Philosophy S. M. Hasanuzzaman, 'Defining Islamic Economics', Journal of Islamic Banking and Finance, 14, 1, 1997, pp. 12-22. Frederic L. Pryor, 'The Islamic Economic System', Journal of Comparative Economics, 9, 2, 1985, pp. 197-223. Muhammad Abdul-Rauf, 'The Islamic Doctrine of Economics and Contemporary Economic Thought', American Enterprise Institute for Public Policy Research, (Washington, DC, 1979), pp. 1-21. John R. Presley and John G. Sessions, 'Islamic Economics: The Emergence of a New Paradigm', The Economic Journal, 104, 424, 1994, pp. 584-596. Ozay Mehmet, 'Al-Ghazzali on Social Justice: Guidelines for a New World Order from an Early Medieval Scholar', International Journal of Social Economics, 24, 11, 1997, pp. 1203-1218. Murat Cizakca, 'Charity in the World of Islam: Waqf's Origin and Evolution', paper delivered at the Conference on Indigenous Charities: Historical Studies of Charity Institutions Across Cultures, University of Hong Kong, November 6-7, 2008. a a Volume 2: Evolution of Islamic Financial System Contents Acknowledgements Introduction -- Bilal Kuspinar Part 4: Islamic Finance: Evolution and Institutions Zamir Iqbal, 'Financial Engineering in Islamic Finance', Thunderbird International Business Review, 41, 4-5, 1999, pp. 541-60. Shujaat A. Khan, 'Two Paths to Development: Capitalist vs. Islamic Approach', Hamdard Islamicus, 21, 2, 1998, pp. 7-15. Cyril Monnet and Erwan Quintin, 'Why Do Financial Systems Differ? History Matters', Journal of Monetary Economics, 54, 4, 2007, pp. 1002-1017. Mirza Sardar Husain, 'Islamic Banking in the Making', Journal of Islamic Banking and Finance, 14, 1997, pp. 53-59 Abdelkader Chachi, 'Origin and Development of Commercial and Islamic Banking Operations', Islamic Economics, 18, 2, 2005, pp. 3-25. Mohsin S. Khan and Abbas Mirakhor, 'Monetary Management in an Islamic Economy', Islamic Economics, 6, 1994, pp. 3-22. Juan Sole, 'Introducing Islamic Banks into Conventional Banking System', IMF Working Paper, WP/07/175, July 1, 2007. Part 5: The Discourse on Interest -- Religious Context Abdulkader Thomas, 'What is Riba?' in Abdulkader Thomas (ed.), Interest in Islamic Economics (London and New York: Routledge, 2006), pp. 125-134. Joseph Persky, 'From Usury to Interest', Journal of Economic Perspectives, 21, 1, 2007, pp. 227-236. James B. Sauer, 'Metaphysics and Economy -- the Problem of Interest: A Comparison of the Practice and Ethics of Interest in Islamic and Christian Cultures', International Journal of Social Economics, 29, 1-2, 2002, pp. 97-118. Francesco L. Galassi, 'Buying a Passport to Heaven: Usury, Restitution and the Merchants of Medieval Genoa', Religion, 22, 1992, pp. 313-326. Barry Gordon, 'Lending at Interest: Some Jewish, Greek and Christian Approaches 800 BC-100 AD', History of Political Economy, 14, 3, 1982, pp. 406-426. Syed Hussain Ali Jafri and Lawrence S. Margolis, 'The Treatment of Usury in the Holy Scriptures', Thunderbird International Business Review, 41, 4-5, 1999, pp. 371-379. Part 6: The Islamic View of Interest S. M. Hasanuz Zaman, 'Conceptual Foundation of Riba in Qur'an, Hadith and Fiqh', Journal of Islamic Banking and Finance, 18, 3/4, 2001, pp. 17-25. Abdullah Saeed, 'The Moral Context of the Prohibition of RibA in Islam Revisited', American Journal of Islamic Social Sciences, 12, 4, 1995, pp. 496-517. M. Umer Chapra, 'Why has Islam Prohibited Interest? Rationale behind the Prohibition of Interest', Review of Islamic Economics, 9, 2000, pp. 5-20. Muhammad Samiullah, 'Prohibition of Riba (Interest) and Insurance in the Light of Islam', Islamic Studies, 21, 2, 1982, pp. 53-76. Mahmoud A. El-Gamal, 'Interest and the Paradox of Contemporary Islamic Law and Finance', Fordham International Law Journal, 27, 1, 2003, pp. 108-149. Part 7: The Secular (Modern) View of Interest Rudolph C. Blitz and Millard F. Long, 'The Economics of Usury Regulation', Journal of Political Economy, 73, 6, 1965, pp. 608-619. Wayne A.M. Visser and Alastair McIntosh, 'A Short Review of the Historical Critique of Usury', Accounting, Business and Financial History, 8, 2, 1988, pp. 175-189. Muhammad Akram Khan, 'Riba in Contemporary Literature', in Issues in Islamic Economics, (Lahore: Islamic Publications Ltd., 1983), pp. 38-68. D. Levy, 'Adam Smith's Case for Usury Laws', History of Political Economy, 19, 3, 1987, pp. 387-400. a a Volume 3: Current Islamic Finance Contents Acknowledgements Introduction -- Syed Ali Tawfik al-Attas Part 8: Islamic Financial System: Theory and Practice a Jean-Francois Seznec, 'Ethics, Islamic Banking and the Global Financial Market', World Policy Journal, 23, 1, Winter-Spring 1999, pp. 161-170. Zamir Iqbal, 'Islamic Financial Systems', Journal of Islamic Banking and Finance, 24, 2, 2007, pp. 113-122. Martin Cihak and Heiko Hesse, 'Islamic Banks and Financial Stability: An Empirical Analysis', IMF Working Paper No.08/16, January 1, 2008. Mohammad Uzair, 'Central Banking in an Interest-Free Banking System', Islamic Banking and Finance (Karachi: Royal Book Company, 2001), pp. 37-59. Mahmoud A. El-Gamal, 'Involving Islamic Banks in Central Bank Open Market Operations', Thunderbird International Business Review, 41, 4-5, 1999, pp. 501-521. Hamid Zengeneh and Ahmad Salam, 'Central Banking in an Interest-Free Banking System', Islamic Economics, 5, 1993, pp. 25-35. Mohammad Ayub, 'The Concept of Riba and Salient Features of Islamic Financial System', in Islamic Banking and Finance (Karachi: State Bank of Pakistan, 2002), pp. 11-42. Part 9: Capitalization of Islamic Institutions Gaffar Abdalla Ahmed 'The Implication of Using Profit and Loss Sharing Modes of Finance in the Banking System with a Particular Reference to Equity Participation (Partnership) Method in Sudan', Humanomics: International Journal of Systems and Ethics, 24, 3, 2008, pp. 182-206. Dadang Muljawan, Humayon A. Dar and Maximilian J. B. Hall, 'A Capital Adequacy Framework for Islamic Banks: The Need to Reconcile Depositors' Risk Aversion With Managers' Risk Taking', Applied Financial Economics, 14, 2004, pp. 429-441 Mansur A. Noibi, 'Prudential Regulation of Islamic Banks: An Analysis of Capital Adequacy Standards', Review of Islamic Economics, 8, 1, 2004, pp. 55-73. B. A. Bashir, 'Portfolio Management of Islamic Banks: "Certainty Model"', Journal of Banking and Finance, 7, 1983, pp. 339-354. Samy Ben Naceur and Magda Kandil, "The Impact of Capital Requirements on Banks' Cost of Intermediation and Performance: The Case of Egypt', Journal of Economics and Business, 61, 1, 2009, pp. 70-89. Part 10: Islamic Financial Instruments a Mufti Taqi Usmani, 'Principles of Shariah Governing Islamic Investment Funds', Journal of Islamic Banking and Finance, 20, 2, 2003, pp. 7-16 Abdul Awwal Sarker, 'Islamic Financial Instruments: Definition and Types', Review of Islamic Economics, 4, 1, 1995, pp. 1-16. Stella Cox, 'Islamic Asset Management: An Expanding Sector', Review of Islamic Economics, 11, 2002, pp. 27-50. Mohammad Hashim Kamali, 'A Shari'ah Analysis of Issues in Islamic Leasing', Islamic Economics, 20, 1, 2007, pp. 3-21. Taufiq Hasan, Shamsher Mohamad and Mohammed Khaled I. Bader, 'Efficiency of Conventional Versus Islamic Banks: Evidence from the Middle East', International Journal of Islamic and Middle Eastern Finance, 2, 1, 2009, pp. 46-65. Vasudevan Sundararajan and Luca Errico, 'Islamic Financial Institutions and Products in the Global Financial System: Key Issues in Risk Management and Challenges Ahead', IMF, Working Paper, WP/02/192, November, 2002. Maria Bhatti and M. Ishaq Bhatti, 'Legality of Corporate Governance in Islamic Finance', forthcoming in Journal of Asian Politics and Policy, 2, 2009. Part 11: Management and Governance of Islamic Institutions Robin Mathews, Issam Tlemsani and Aftab Siddiqui, 'Recent Development in the Market for Islamic Mortgages: Theory and Practice', Review of Islamic Economics, 14, 2003, pp. 49-65. Rodney Wilson, 'Regulatory Challenges Posed by Islamic Capital Market Products and Services', Journal of Islamic Banking and Finance, 24, 2, 2007, pp.18-36. Patrick Honohan, 'Islamic Financial Intermediation: Economic and Prudential Considerations', World Bank Research Paper, July 2001. Zubair Hasan, 'Credit Creation and Control: An Unresolved Issue in Islamic Banking', Journal of Islamic and Middle Eastern Finance and Management, 1, 1, 2008, pp. 69-81. El Tegani A. Ahmed, 'Distribution of Profits in Islamic Banking: A Case Study of Faysal Islamic Bank of Sudan (FIBS)', Islamic Economics, 7, 1995, pp. 15-33. T. E. Gambling and R.A.A. Karim, 'Islamic and "Social Accounting"', Journal of Business Finance and Accounting, 13, 1, 1986, pp.39-50. a a Volume 4: Future Islamic Finance Contents Acknowledgements Introduction -- Mohammad Hashim Kamali Part 12: Prospects for Islamic Finance Amer Al-Roubaie, 'Islamic Finance: A Bulwark Against Contagion in the Global Banking System', Journal of Civilization Studies, 2, 2, 2009. Bassel Hamwi and Anthony Aylward, 'Islamic Finance: A Growing International Market', Thunderbird International Business Review, 41, 4-5, 1999, pp. 407-420. Muhammad Nejatullah Siddiqi, 'Islamic Banks: Concept, Precept and Prospects', Review of Islamic Economics, 9, 2000, pp. 21-35. M. Mansoor Khan and M. Ishaq Bhatti, 'Islamic Banking and Finance: On its Way to Globalization', Managerial Finance, 34, 10, 2008, pp. 708-725. Shahid Hasan Siddiqui, 'Islamic Banking: Rationale, Prospects and Challenges', Journal of Islamic Banking and Finance, 13, 2, 1996, pp. 26-47. Monzer Kahf, 'Islamic Banks at the Threshold of the Third Millennium', Thunderbird International Business Review, 41, 4-5, 1999, pp. 445-460. Sajjad M. Jasimuddin, 'The Stock Exchange and Islamic Finance: Some Thoughts for a Reconsideration', The Islamic Quarterly, 14, 2, 2001, pp. 105-117. Abbas Mirakhor, 'Progress and Challenges of Islamic Banking', Review of Islamic Economics, 4, 2, 1997, pp.1-11. Part 13: Challenges Facing Islamic Finance Noor Ahmed Memon, 'Islamic Banking: Present and Future Challenges', Journal of Management and Social Sciences, 3, 1, 2007, pp. 1-10. Mohammad Uzair, 'Foreign Transactions in an Interestless Economy', in Interest Free Banking (Karachi: Royal Book Company, 2001), pp. 180-192. Sayyid Tahir, 'Future of Islamic Banking', Journal of Islamic Banking and Finance, 22, 4, 2005, pp. 21-33. Khurshid Ahmed, 'Islamic Finance and Banking: The Challenge of the 21st Century', in Imtiazuddin Ahmad (ed.), Islamic Banking and Finance: The Concept, the Practice and the Challenge (Plainfield, USA: Islamic Society of North America, 1999), pp. 7-38. Fuad Abdullah Al-Omar and Munawar Iqbal, 'Some Strategic Suggestions for Islamic Banking in 21st Century', Review of Islamic Economics, 9, 2000, pp. 37-56. Mohammed El Qorchi, 'Islamic Finance Gears Up', Finance and Development, December 2005, pp. 46-49. Abdus Samad, Norman D. Gardner and Bradley J. Cook, 'Islamic Banking and Finance in Theory and Practice: The Experience of Malaysia and Bahrain', American Journal of Islamic Social Sciences, 22, 2, 2005, pp. 69-86. Part 14: Globalization of Islamic Financial System Said Zafar, 'Future of Islamic Banking in Canada', in Imtiazuddin Ahmad (ed.), Islamic Banking and Finance: The Concept, the Practice and the Challenge (Plainfield, USA: Islamic Society of North America, 1999), pp. 91-96. W. Alsultan, M. M. Metwally and Jamal Roudaki, 'Financial Analysis of Performance of Islamic Banks in GCC Countries', Journal of Islamic Banking and Finance, 22, 2, 2005, pp. 51-65. Mohsin S. Khan and Abbas Mirakhor, 'Islamic Banking Experiences in the Islamic Republic of Iran and in Pakistan', Economic Development and Cultural Change, 38, 1990, pp. 353-375. Ramadan Shallah, 'Jordan: The Experience of the Jordan Islamic Bank', in Rodney Wilson (ed.), Islamic Financial Markets (London: Routledge, 1990), pp. 100-12 Mohammad Hashim Kamali, 'The Permissibility and Potential of Developing Islamic Derivatives as Financial Instruments', Journal of Economics and Management, 7, 2, 1999, pp.73-86. Philip Gerrard and J. Barton Cunningham, 'Islamic Banking: A Study in Singapore', International Journal of Bank Marketing, 15, 6, 1997, pp. 204-216. Sudin Haron, Wan Nursofiza Wan Azmi and Ku Majdi Yamirudeng, 'Islamic Banking in Thailand: Prospects and Challenges', Journal of Islamic Banking and Finance, 21, 1, 2004, pp. 84-96. David Baldwin, 'Turkey: Islamic Banking in a Secularist Country', in Rodney Wilson (ed.), Islamic Financial Markets (London: Routledge, 1990), pp. 33-58. Rodney Wilson, 'Challenges and Opportunities for Islamic Banking and Finance in the West: The United Kingdom Experience', Thunderbird International Business Review, 41, 4-5, 1999, pp. 421-444. Index a a a a a a a