© 2012 – Routledge
When it was originally published this volume was the first comprehensive survey of the experience of Islamic banking throughout the Muslim world in Turkey, Egypt, Kuwait, Jordan, Sudan, iran, Pakistan and Saudi Arabia. Drawing comparisons between the countries in economic terms, it shows that the success of Islamic banks to a large extent reflects the immediate political environment. The complete Islamization of the financial systems of the more fundamentalist countries of Iran and Pakistan is compared with the divide between conventional interest-based systems and the new Islamic banks in Kuwait, Turkey, Egypt, Sudan and Jordan.
Islamic Financial Markets explores both international Islamic finance and the national markets in which Islamic banks operate, raising for the first time the issue of competition in Islamic banking. It also looks to the future, to retail development and wholesale possibilities which seem to be the next step forward in Islamic finance. Setting the subject in historical, religious and economic perspective, the book offers a comprehensive survey of the successful adaptation of an ancient financial system to meet the requirements of modern commerce.
List of Tables. List of Figures. Introduction Rodney Wilson. 1. Retail development and wholesale possibilities Rodney Wilson. 2. Competition in Islamic banking Rodney Wilson. 3. Turkey: Islamic banking in a Secularist Context. David Baldwin. 4. Egypt: An Evaluation of the major Islamic Banks Ahmed Al-Ashker. 5. Sudan: The Role of the Faisal Islamic Bank Osman Ahmed. 6. Jordan: The Experience of the Jordan Islamic Bank. Ramadan Shallah. 7. Kuwait: Islamic Banking for a Consumer Society Rodney Wilson. 8. Iran: The Impact of Islamization on the Financial System. Hossein Aryan. 9. Pakistan: Main participants and Final Financial Products of the Islamization process. Christine Gieraths. 10. Saudi Arabia: The Islamic Development Bank’s Role as a Pan-Muslim Agency. Rodney Wilson. Notes. Index.