DISCOVER NEW PERSPECTIVES

Books

IIBI books and reports have all been digitised with free online access for all Digitised books and reports of other publishers, have been included as they are either out of copyright, freely available on the internet, or permission of the author or publisher has been obtained.

The modern revival of Islamic finance dates from the 1960s and is closely linked to the emergence of newly independent countries that found the means and incentives to respond to the unmet need of their majority Muslim citizens for a form of banking and finance that was in accordance with the ethical and moral principles founded in their faith. Many non-Muslims have also been drawn to Islamic finance, attracted by the value it places on high moral standards and its resilience and stability shown during the global financial crisis started in 2007-2008 driven by uncontrolled desire to maximise profits primarily through speculative banking practices.

The books record the important ethical principles of Islamic banking and finance, and insurance, moral concepts and practices have the potential to refashion financial services with viable alternatives and mobilise funds from the unbanked. Many of these concepts and practices have their origins in classical times that helped with trade and commerce. Some aspects are very new, for example Sukuk while derived from Islamic securities that are very old, they have been adapted into a modern form in different ways to replace interest-bearing conventional bonds.