Following the successful Workshop on Textbook on Islamic Economics
and Special Workshop on Islamic Economics held at The IDB
Headquarters, Jeddah on February 27-28, 2006 and in Malacca on 28th
April 2006 (or known as Malacca Islamic Economists Circle)
respectively, the Islamic economists have agreed to prepare
textbooks that can be used to support the Islamic economics
programme offered at the university level around the globe. To
support this effort, we successfully managed to compile the applied
and practical oriented papers focusing on the application of fiqh
muamalat in financial transactions. The aim is to drive innovative
financial products that can be used to enhance the development of
Islamic finance field. Each paper gives an account of the current
state of the art in the selected products and indicates clearly the
structure of the product (including shari'ah principle, and product
description) and risk management infrastructure and processes.
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