Islamic Banking and Finance: Book Review

Abstract

"Islamic Banking and Finance: Second Edition" by Zubair Hasan provides an in-depth exploration of the principles, practices, and theoretical underpinnings of Islamic finance. This book will be published in 2023. The book delves into the fundamental concepts of Shariah-compliant banking, offering a comprehensive overview of the prohibition of interest (riba), the importance of risk-sharing, and the promotion of ethical investments. Hasan meticulously explains various Islamic financial instruments such as mudarabah, musharakah, ijara, and sukuk, making the book an essential resource for understanding how Islamic banking operates differently from conventional financial systems. The primary audience for this book includes students, academics, and professionals in the fields of finance, economics, and Islamic studies. It is also beneficial for practitioners in the banking sector who seek to implement or better understand Islamic financial principles. Hasan’s clear and methodical approach ensures that readers, regardless of their prior knowledge of Islamic finance, can grasp the complexities and nuances of the subject. The book serves as both a textbook for educational purposes and a reference guide for industry professionals. This book is particularly important because it addresses the growing demand for ethical and socially responsible financial practices, which have become increasingly relevant in the global financial landscape. By providing a thorough analysis of Islamic banking and finance, Hasan contributes to the broader discourse on sustainable and equitable economic practices. His work not only educates but also inspires a shift towards more inclusive financial systems that align with ethical and religious values, thereby promoting financial stability and social justice.