This lecture was delivered in ICMAP Islamabad [February 12, 2013], ICMAP Lahore [March 2014] and IFAP-FSM [March 2014]. It includes following subtopics: Why Islamic Finance? What are the principles of Islamic finance? What are features of Islamic banking? How Islamic banking developed (a brief...

Islamic Banking is growing at a rapid speed and has showed unprecedented growth and expansion in last two decades in spite of mismatching of existing financial framework and business practices. By the end of 2012 volume of assets under Islamic finance has reached to US $ 1,460 Billion with...

Islamic Banking has shown tremendous growth in first decade of twenty first century. In order to avoid interest charging Islamic banks transect business through sale/purchase (Murabaha, Muajjal, Salam, Istisna'a), Leasing (Ijara) and profit and loss sharing (Musharaka, Mudaraba, PTC, TFC, Skuk)....

This article covers Development of Islamic finance as a distinct financial stream. It includes religious foundations [Objectives of Shari'a and Injunctions on Riba/interest & usury], Historical developments [timeline], Principles [Riba prohibition, Gharar, Myser and PLS] and Operational modes...

Financial reporting is very important aspect of any business as it determines financial rights and liabilities of the parties involved. With the advent of Islamic finance the issue of financial reporting as per Islamic law was raised, which was then addressed by the Accounting and Auditing...

An overwhelming criticism on practice of Islamic finance is lesser application of Shari'a based (profit and loss sharing) modes of financing. This study is conducted to analyze the issue based upon available literature and data. It is found in the process that profit and loss sharing based modes...

Purpose: This study presents an analysis of current practices of Islamic mortgages in the light of the principles of Islamic financial system, to document divergences—if any. A subsidiary goal is to develop an Islamic Mortgage Model (IMM) based on Musharakah principles.Methodology: We document...

This study documents the literary developments and classifies the literature in the area of Islamic Financial Services Industry (IFSI). Our findings are based on articles published in selected Islamic finance specialized journals for six years (2012-2017). Classification is based on multiple...