Islamic banking & finance in South-East Asia [electronic resource] : its development & future / Angelo M. Venardos.

ISBN:

9789812773050

Title:

Author:

Venardos, Angelo M.

Personal Author:

Venardos, Angelo M.

Edition:

2nd ed.

Publication Information:

Physical Description:

1 online resource (xvii, 238 pages).

Series:

Asia-Pacific business series ; v. 3

Contents:

Islamic history -- Shari'ah law and Islamic jurisprudence -- Islamic commercial law -- Islamic financial products -- Issues and challenges of Islamic banking today -- Islam in South-east Asia -- Colonial legacies: Islam and state law in South-east Asia -- Islamic banking in Malaysia -- Islamic banking in Indonesia -- Labuan: a niche in the Islamic money market -- Islamic banking in Brunei -- Banking is Singapore.

Local Note:

eBooks on EBSCOhost

Subject Term:

Banks and banking -- Southeast Asia.

Banks and banking -- Islamic countries.

Banks and banking -- Religious aspects -- Islam.

Islamic law -- Southeast Asia.

Geographic Term:

Southeast Asia -- Economic conditions.

Format:

Electronic Resources

Electronic Access:

Click here to view

Publication Date:

2006

Publication Information:

Available:*

Shelf Number	Material Type	Copy	Shelf Location	Status
332.10959 22	1:E-BOOK	1	1:ONLINE	Searching... Unknown

Bound With These Titles

On Order

Summary

To truly understand the current interest in the development of Islamic banking and finance in South-East Asia and how it is different from the conventional banking system, one must first understand the religious relationship originating from the Qur'an, and then trace the historical geographic and political developments of Islam over recent centuries. Only on this basis can the reader, without prejudice or cynicism, begin to appreciate Shari'ah law and Islamic jurisprudence. With this platform established in the first part of the book, readers are invited to learn about the financial products and services offered, understand the challenges in their development, and ultimately recognize the significant opportunities that Islamic banking and finance can provide both Muslims and non-Muslims.This second edition contains updates of statistics and dates with regards to the development of Islamic banking in Malaysia, Singapore, Indonesia and Brunei. In particular, the chapter on Singapore details significant developments such as the direction which major banks are taking towards Islamic banking and the increase in Islamic banking products being offered.Although written by a non-Muslim author, this highly-regarded book is being translated into Arabic by a leading Islamic university in the Middle East.

Reviews (1)

Choice Review

This volume will be of value to anyone interested in the history, methods, and rules of Islamic finances in Southeast Asia (i.e., the Philippines, Indonesia, Malaysia, and Brunei). It is written by a non-Muslim who views the subject through a different prism, which makes the book unique. Venardos, an international banking and finance professional, provides comprehensive coverage, but given the scope of the topic, he does not offer in-depth scholarly discussion. The volume's 13 chapters provide a brief history of Islam; cover sources of Islamic law, e.g., Shari'ah and Sunnah; discuss commercial law, including contracts, usury, and different types of acceptable and unacceptable business practices; provide an overview of traditional Islamic financial products that have been changed in recent times to accommodate the current needs of Muslims around the world; discuss challenges of Islamic banking today; and present four case studies of Southeast Asian countries where Islamic banking and finance is prevalent. The chapter on current challenges covers contemporary everyday issues and transactions as well as complex problems, e.g., problems facing the Muslim community over the payment of interest, the most forbidden practice in Islamic law. ^BSumming Up: Recommended. Public and academic library collections, lower-division undergraduate and up. H. Zangeneh Widener University