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Lectures in Islamic Banking
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In the contemporary practice of Islamic banking, everyone is given an equal chance to understand, feel and appreciate it accordingly. In fact, everyone is an Islamic banking scientist if he intends to establish a cogent knowledge pertinent to the Islamic banking industry and shares it with everyone else in his social circle. The industry is opened to everyone provided Shariah principles and existing Shariah governance are meticulously observed. In response to this concern, this book provides sufficient guidance at least for undergraduate students to observe these requirements and who really intend to advance their career in the industry and contribute significantly. This book provides a short but comprehensive overview pertinent to Islamic banking and finance where historical perspectives are brought into play. The coverages of the book are provided as follows: Islamic banking deposits after the introduction of the Islamic Financial Services Act 2013 (IFSA), new concepts of Islamic investment accounts that key differences between Islamic fixed deposits and Islamic investment accounts, Islamic financing concepts including some interesting discussions pertaining to Islamic debt policies presently implemented in some Islamic banks in Malaysia, Islamic automobile financing, Islamic personal cash financing, Islamic home financing, historical background of Islamic window and Islamic subsidiary in Malaysia, Islamic pawn financing and how it is distinct compared with its conventional peer; and financing evaluation and pricing from the context of Islamic banks. Some calculations are provided to expose students with an improved understanding of the Base Rate and how it is related to Islamic financing products.