Islamic Banking and Finance

New Perspectives on Profit Sharing and Risk

Edited by Munawar Iqbal, Professor, King Abdul Aziz University, Saudi Arabia and Chief of Research, IRTI, Islamic Development Bank and David T. Llewellyn, Emeritus Professor of Money and Banking, Loughborough University, UK

Islamic Banking and Finance discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit-sharing (as opposed to debt-based) contracts are highlighted, and the ways in which they can facilitate improved efficiency and stability of a financial system are explored.