Islamic Financial Institutions: An Introduction to IFIs

This book presents an introductory study of contemporary Islamic financial institutions (IFIs). It finds that after the political weakness of the Islamic world and the domination of Western colonialism, the Islamic economic system was largely ignored at the governmental level. Today, especially in the last half of the previous century, a new wave of awareness, consciousness, and enthusiasm has given rise to several necessary steps, including the establishment of financial institutions where Muslims conduct their financial affairs under Islamic teachings. Contemporary Islamic economy and finance is very successful in achieving its desired position and is rapidly gaining a foothold in the global economy. Islamic Financial Services Industry (IFSI) is offering legitimate alternatives to almost all sectors of the current economic system. The Islamic financial industry is a perfect system in terms of its size, comprehensiveness, and versatility. This industry includes central and subsidiary Islamic financial institutions that are endeavoring to provide professional services in all financial fields following Shariah principles.
This book is categorized in the following four main domains:
1. Knowledge and Research-Based Islamic Financial Institutions
2. The Central Islamic Financial Institutions of Practical Implementation
3. The Subsidiary Islamic Financial Institutions of Practical Implementation
4. Indirect Islamic Financial Institution