International Shari‘ah Research Academy for Islamic Finance (ISRA) launched the world’s first comprehensive Islamic financial markets textbook, Islamic Financial System: Principles & Operations. It was published by ISRA and fully sponsored by Cagamas Berhad, the National Mortgage Corporation. Tuesday, June 2011, marked another landmark for ISRA as it managed to convert the dreams of many Islamic finance stakeholders into reality with the release of this textbook, the product of about one-and-a-half years of rigorous effort. It is a comprehensive, wide-ranging and useful source for students, practitioners and the general public alike. A diverse group of 34 experts in various fields of Islamic finance, both academicians and practitioners, collaborated on the work.
There are a growing number of books on Islamic finance to be found in the market; however, Islamic Financial System: Principles & Operations is the first Islamic finance textbook to cover the full range of associated topics. It comprises nineteen chapters, clustered in six parts, covering all pertinent areas of Islamic finance:
• Overview of the Islamic Financial System
• Shari‘ah Framework and Principles for the Islamic Financial System
• Islamic Financial Markets
• Risk Management Principles and Mechanisms for the Islamic Financial System
• Regulation, Supervision and Governance of the Islamic Financial System
• Moving Forward – Opportunities, Issues and Challenges
This textbook is not only a useful resource for students but is also an indispensable resource for practitioners in the Islamic finance industry. That is because its discussion of the various aspects of the field includes the current issues facing practitioners.
