{"product_id":"contracts-and-deals-in-islamic-finance-isbn-9781119020561","title":"Contracts and Deals in Islamic Finance","description":"\u003cb\u003eA very accessible and concise guide to Islamic finance\u003c\/b\u003e  \u003cp\u003e\u003ci\u003eContracts and Deals in Islamic Finance\u003c\/i\u003e provides a clear breakdown of Islamic financial contracts and deal structures for beginners. The embedded requirements within selected Islamic financial contracts, such as risk weightage, capital structures, creations of cash flows, and balance sheets, are explained fully to provide a solid understanding of the backbone of the industry. Aimed primarily at beginners and those with a background in conventional banking, this book guides readers through the major contracts, how they're applied, and how to discern a contract's legitimacy. Case studies and interviews with bankers and global regulators provide real-life examples of contract application, and the author's own experiences provide deep insight into the everyday issues that arise. Ancillary instructor's materials include PowerPoint slides and lecture notes that facilitate use in the classroom.\u003c\/p\u003e \u003cp\u003eLiterature describing the application of Islamic financial contracts is few and far between, and those providing a basic breakdown of these contracts and questioning their validity are rarer still. This book is the first of its kind, offering a basic approach to understanding Islamic contracts, designed for the true beginner.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eUnderstand the current contracts applied in Islamic banking\u003c\/li\u003e \u003cli\u003eLearn how contracts are applied across different jurisdictions\u003c\/li\u003e \u003cli\u003eIdentify illegitimate contracts and those not in the spirit of Shariah law\u003c\/li\u003e \u003cli\u003eExamine the current economic realities surrounding Islamic finance\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eBy highlighting the underlying themes in Islamic finance and assessing the current practices, this book gives readers the solid understanding and up-to-date perspective that form a solid foundation upon which successful Islamic finance is practiced. For a solid introduction to the Islamic finance industry, Contracts and Deals in Islamic Finance is an accessible, practical guide.\u003c\/p\u003e \u003cp\u003eForeword xv\u003c\/p\u003e \u003cp\u003ePreface xvii\u003c\/p\u003e \u003cp\u003eAcknowledgments xxi\u003c\/p\u003e \u003cp\u003eProduct Offerings xxiii\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: The Islamic Finance Space 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eModern Phase of Islamic Finance 8\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Bai al Inah 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefinitions of Bai al Inah 13\u003c\/p\u003e \u003cp\u003eBai al Inah Process Flow 15\u003c\/p\u003e \u003cp\u003eLegal Issues with Bai al Inah 17\u003c\/p\u003e \u003cp\u003eBai al Inah as a Financial Product 19\u003c\/p\u003e \u003cp\u003eTransfer of Ownership 20\u003c\/p\u003e \u003cp\u003eDocumentation Involved 21\u003c\/p\u003e \u003cp\u003eResolutions on Bai al Inah 21\u003c\/p\u003e \u003cp\u003eConclusion 22\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Murabahah, Bai Mu’ajjal, and Bai Bithman Ajil 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMurabahah Sale\/Credit Sale\/Credit 25\u003c\/p\u003e \u003cp\u003eEnhancements to Murabahah 26\u003c\/p\u003e \u003cp\u003eMurabahah Working Capital 28\u003c\/p\u003e \u003cp\u003eCredit-Based Sale\/Markup or Riba 28\u003c\/p\u003e \u003cp\u003eBonafide Murabahah\/True Sale 29\u003c\/p\u003e \u003cp\u003eTrading House Model 31\u003c\/p\u003e \u003cp\u003eFinancial Services Division of a Manufacturer or Retailer 32\u003c\/p\u003e \u003cp\u003eBai Bithman Ajil 32\u003c\/p\u003e \u003cp\u003eBBA with Inah 32\u003c\/p\u003e \u003cp\u003eConclusion 34\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Tawarruq 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIssue of Price Fixing 37\u003c\/p\u003e \u003cp\u003eTransfer of Title 38\u003c\/p\u003e \u003cp\u003ePayment of Sales Tax 39\u003c\/p\u003e \u003cp\u003eApplications of Tawarruq in Banking Products 40\u003c\/p\u003e \u003cp\u003eReal Economic Activity 43\u003c\/p\u003e \u003cp\u003eConclusion 44\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Deferred Payment Sale or Credit Sale 45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAccounting Entries for Murabahah by Purchase Orderer 47\u003c\/p\u003e \u003cp\u003eAccounting Entries for a Bai al Inah Contract 48\u003c\/p\u003e \u003cp\u003ePricing of Deferred Sales under Murabahah, BBA, Inah, and Tawarruq 49\u003c\/p\u003e \u003cp\u003eRisk Treatment of Deferred Payment Sales 53\u003c\/p\u003e \u003cp\u003eFixed Income Portfolio 57\u003c\/p\u003e \u003cp\u003eConclusion 58\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Bai Al Wafa 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancial Assets as Subject of Sale 60\u003c\/p\u003e \u003cp\u003eBai Al Wafa and Sale of Equities 60\u003c\/p\u003e \u003cp\u003eBai Al Wafa and Sale of Sukuk 60\u003c\/p\u003e \u003cp\u003eConclusion 61\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Salaam and Istisna: Deferred Delivery Sale 63\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSalaam 63\u003c\/p\u003e \u003cp\u003eIstisna 68\u003c\/p\u003e \u003cp\u003eConclusion 70\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Bai al Sarf 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBasic Rulings on Bai al Sarf 75\u003c\/p\u003e \u003cp\u003eConclusion 77\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Bai al Dayn 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePurchase Price, Rental Payments, Receivables, and Debt 80\u003c\/p\u003e \u003cp\u003eRental Payments Due in an Ijara Contract 81\u003c\/p\u003e \u003cp\u003eFinancial Products 81\u003c\/p\u003e \u003cp\u003eSale of Equity 82\u003c\/p\u003e \u003cp\u003eConclusion 83\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Bai al Urbun 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConclusion 89\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Ijarah and Its Variants 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNormal Ijarah 92\u003c\/p\u003e \u003cp\u003eAccounting Entries for Ijarah Contract 93\u003c\/p\u003e \u003cp\u003eIjarah Muntahiya Bi Tamleek 95\u003c\/p\u003e \u003cp\u003eAl Ijarah Thumma al Bai (AITAB) 95\u003c\/p\u003e \u003cp\u003eSale and Leaseback 96\u003c\/p\u003e \u003cp\u003eConclusion 97\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Wadiah 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eForms of Wadiah 100\u003c\/p\u003e \u003cp\u003eEnhancements to Wadiah 100\u003c\/p\u003e \u003cp\u003eMoney Creation 104\u003c\/p\u003e \u003cp\u003eConclusion 108\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Qard 111\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eApplications of the Contract of Qard 112\u003c\/p\u003e \u003cp\u003eQard as a Deposit Instrument 113\u003c\/p\u003e \u003cp\u003eRecording of Qard 113\u003c\/p\u003e \u003cp\u003eConclusion 114\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Mudharabah 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSimple Application of Mudharabah 117\u003c\/p\u003e \u003cp\u003ePerpetual Mudharabah 118\u003c\/p\u003e \u003cp\u003eRe-Mudharabah 118\u003c\/p\u003e \u003cp\u003eRestricted Mudharabah and Unrestricted Mudharabah 118\u003c\/p\u003e \u003cp\u003eMudharabah as a Deposit 120\u003c\/p\u003e \u003cp\u003eMudharabah as a Fund 121\u003c\/p\u003e \u003cp\u003eInterbank Mudharabah Placements 122\u003c\/p\u003e \u003cp\u003eIndicative Rate of Return 122\u003c\/p\u003e \u003cp\u003eProfit Sharing Ratio 123\u003c\/p\u003e \u003cp\u003eImportance of Disclosure and Accounting Treatments 123\u003c\/p\u003e \u003cp\u003eMudharabah as an Asset Product 124\u003c\/p\u003e \u003cp\u003eAccounting Treatment of Mudharabah Transactions 126\u003c\/p\u003e \u003cp\u003eConclusion 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: Musharakah 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMusharakah and Banking 130\u003c\/p\u003e \u003cp\u003eMushrakah as Asset Product 132\u003c\/p\u003e \u003cp\u003ePooling of Assets in Mushrakah 132\u003c\/p\u003e \u003cp\u003eMushrakah Mutanaqisah 133\u003c\/p\u003e \u003cp\u003eConclusion 138\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Hibah 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eForms of Hibah 139\u003c\/p\u003e \u003cp\u003eRestrictions on Hibah 140\u003c\/p\u003e \u003cp\u003eApplications of Hibah in Banking 140\u003c\/p\u003e \u003cp\u003eEnhancements to Hibah 142\u003c\/p\u003e \u003cp\u003eConclusion 143\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17: Kafalah 145\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWho Can Be a Guarantor? 147\u003c\/p\u003e \u003cp\u003eProducts Based on Kafalah 148\u003c\/p\u003e \u003cp\u003eBack-to-Back Guarantees 148\u003c\/p\u003e \u003cp\u003eConclusion 149\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: Wakalah, Hawalah, Ibra, and Rahn 151\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWakalah 151\u003c\/p\u003e \u003cp\u003eHawalah 153\u003c\/p\u003e \u003cp\u003eIbra 156\u003c\/p\u003e \u003cp\u003eRahn 159\u003c\/p\u003e \u003cp\u003eConclusion 161\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: Shariah: Sources, Interpretation, and Implementation 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eModern-Day Ijtihad 165\u003c\/p\u003e \u003cp\u003eWhose Shariah Is It, Anyway? 167\u003c\/p\u003e \u003cp\u003eConclusion 171\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20: Islamic Asset Management and Shariah Screening 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapital Markets 177\u003c\/p\u003e \u003cp\u003eIPO Stage 177\u003c\/p\u003e \u003cp\u003eMarket Integrity 180\u003c\/p\u003e \u003cp\u003eMarket Regulation 183\u003c\/p\u003e \u003cp\u003eValuations 187\u003c\/p\u003e \u003cp\u003eZero Sum Game 188\u003c\/p\u003e \u003cp\u003eThe Role of Capital Markets in the Sphere of Islamic Finance 189\u003c\/p\u003e \u003cp\u003eFarmer Sukuk or Equity Notes 189\u003c\/p\u003e \u003cp\u003eConclusion 190\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21: Pricing, Income Distribution, and Risk Sharing in Islamic Banks 191\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePricing of Islamic Financial Products 191\u003c\/p\u003e \u003cp\u003ePrice versus Shariah 194\u003c\/p\u003e \u003cp\u003eBenchmark for Pricing 195\u003c\/p\u003e \u003cp\u003eCriticism on Pricing Models 195\u003c\/p\u003e \u003cp\u003eProfit Equalization Reserve 196\u003c\/p\u003e \u003cp\u003eIncome Distribution 199\u003c\/p\u003e \u003cp\u003eRisk Sharing in Islamic Banks 208\u003c\/p\u003e \u003cp\u003eConclusion 208\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22: Sukuk and Rights of Sukuk Holders 209\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRights of Lenders in Debt Financing 210\u003c\/p\u003e \u003cp\u003eRights of Equity Holders 212\u003c\/p\u003e \u003cp\u003eRights of Bondholders 214\u003c\/p\u003e \u003cp\u003eUse of Subsidiary Companies and Special-Purpose Vehicles 216\u003c\/p\u003e \u003cp\u003eHow Sukuk Financing Could Work? 221\u003c\/p\u003e \u003cp\u003eSale and Leaseback 223\u003c\/p\u003e \u003cp\u003eThe Role of the SPV 227\u003c\/p\u003e \u003cp\u003eOther Sukuk Structures 228\u003c\/p\u003e \u003cp\u003eIstisna Sukuk 228\u003c\/p\u003e \u003cp\u003eSimple Sukuk 229\u003c\/p\u003e \u003cp\u003eConclusion 233\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 23: Risk Management for Islamic Banks 235\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCredit Risk 235\u003c\/p\u003e \u003cp\u003eMarket Risk 257\u003c\/p\u003e \u003cp\u003eLiquidity Risk 269\u003c\/p\u003e \u003cp\u003eProfit-Sharing Investment Account 269\u003c\/p\u003e \u003cp\u003eConclusion 273\u003c\/p\u003e \u003cp\u003eReferences 273\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 24: Asset\/Liability Management for Islamic Banks 275\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGap Limit 279\u003c\/p\u003e \u003cp\u003eSpot Rates and Forward Rates 279\u003c\/p\u003e \u003cp\u003eFunding Scenarios 281\u003c\/p\u003e \u003cp\u003eShort-Term and Long-Term Rates 281\u003c\/p\u003e \u003cp\u003eTime Value of Money 288\u003c\/p\u003e \u003cp\u003eConclusion 290\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 25: Takaful 291\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eContract of Agency 291\u003c\/p\u003e \u003cp\u003eShariah Issues with Insurance 292\u003c\/p\u003e \u003cp\u003eContract of Tabarru 293\u003c\/p\u003e \u003cp\u003eProduct Menu 295\u003c\/p\u003e \u003cp\u003eGeneral Takaful Business Model 300\u003c\/p\u003e \u003cp\u003eConcepts Related to Takaful 300\u003c\/p\u003e \u003cp\u003eThe Rights of the Fund over the Participant and the Rights of the Participant over the Fund 302\u003c\/p\u003e \u003cp\u003ePricing General Takaful Plans 304\u003c\/p\u003e \u003cp\u003eObservations of General Takaful 310\u003c\/p\u003e \u003cp\u003eFamily Takaful 311\u003c\/p\u003e \u003cp\u003eBasic Accounting Entries for Takaful 314\u003c\/p\u003e \u003cp\u003eTakaful Operator Models 315\u003c\/p\u003e \u003cp\u003eDistribution of Underwriting Surplus 316\u003c\/p\u003e \u003cp\u003eConclusion 317\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 26: Pricing of Takaful Policies and Retakaful 319\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCase Study 1: Corporate Medical Takaful Plan under General Takaful 319\u003c\/p\u003e \u003cp\u003eCase Study 2: Corporate Medical Takaful Plan under General Takaful 322\u003c\/p\u003e \u003cp\u003eCase Study 3: Corporate Family Takaful Plan 323\u003c\/p\u003e \u003cp\u003eDetailed Mortality Table for Life Takaful 325\u003c\/p\u003e \u003cp\u003eMortality Tables and Probability Calculations 327\u003c\/p\u003e \u003cp\u003eRisk Profiling 331\u003c\/p\u003e \u003cp\u003eConclusion 336\u003c\/p\u003e \u003cp\u003eAfterword 337\u003c\/p\u003e \u003cp\u003eAbout the Authors 341\u003c\/p\u003e \u003cp\u003eBibliography 343\u003c\/p\u003e \u003cp\u003eIndex 347\u003c\/p\u003e \u003cp\u003e\u003cb\u003eHUSSAIN KURESHI \u003c\/b\u003ehas extensive experience in consumerbanking, credit risk management, loan origination, and monitoring for SME and commercial clients. He has a successful banking career that spans over 15 years and specializing in banking operations and management with international organizations.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eMOHSIN HAYAT\u003c\/b\u003e has over 20 years of institutional and international capital arket experience. Simultaneously as an entrepreneur and investor, he has specialized in creating strategic alliances in over 45 countries and building businesses in New York, Hong Kong and across Asia-Pacific. His success is driven by a keen interest in combining business knowledge and investment management fundamentals.   \u003c\/p\u003e\u003cp\u003e\u003ci\u003eContracts and Deals in Islamic Finance offers\u003c\/i\u003e a comprehensive resource for understanding many of the underlying themes in Islamic finance and banking, and explores the complex enhancements to traditional contracts that are the pillars of Islamic banking. \u003c\/p\u003e\u003cp\u003eThe authors Hussain Kureshi and Mohsin Hayat—experts in the field of Islamic finance—address modern economic realities surrounding Islamic financial transactions as well as the application of contracts across different jurisdictions. The authors explain how these contracts are created and give those unfamiliar with Islamic financial practices a guide for discerning the legitimacy of these contracts and a resource for determining if a contract conforms to the spirit of \u003ci\u003eshariah\u003c\/i\u003e law. \u003c\/p\u003e\u003cp\u003eStep by step, this comprehensive resource clearly spells out the values inherent in Islamic financial structures and contracts. It details aspects of process flows, accounting treatments, risk analyses, and \u003ci\u003eshariah\u003c\/i\u003e analysis in a single volume. The text is written in an accessible style that clearly and concisely explains the technicalities of Islamic finance contracts and describes how they differ from conventional transactions. The authors also walk the reader through the contracts and structures and offer an easy way for individuals not familiar with the religion or the language to understand \u003ci\u003eshariah\u003c\/i\u003e contracts and products. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eContracts and Deals in Islamic Finance\u003c\/i\u003e includes a practical and well-researched perspective on contracts and other transactions. It is filled with illustrative real-life examples of contract application and offers an understanding of \u003ci\u003eshariah\u003c\/i\u003e law based on the authors’ first-hand experience and through numerous interviews with savvy bankers and global regulators. \u003c\/p\u003e\u003cp\u003eThis text is accompanied by teaching ancillaries such as PowerPoint slides and instructor notes for an enhanced learning experience.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988986609893,"sku":"NP9781119020561","price":60.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119020561.jpg?v=1761782323","url":"https:\/\/k12savings.com\/products\/contracts-and-deals-in-islamic-finance-isbn-9781119020561","provider":"K12savings","version":"1.0","type":"link"}