Islamic Finance : The Regulatory Challenge

This is a regulatory guide to the fast-changing world of Islamic finance.

This book gives readers interested in international financial services and their regulation an in-depth evaluation of recent developments in the Islamic banking system.

It addresses the need for banks to develop common Islamic international accounting and auditing standards that minimize the differences between Syariah rulings, standardization of acceptable banking practices, the development of standardized financial products, and the role of the Syariah Boards in establishing common rules regarding the permissibility of financial instruments and markets.

Rifaat Ahmed Abdel Karim (Surrey, UK) is Secretary-General of the Islamic Financial Services Board and the author of numerous books and professional papers on the subject of Islamic finance.

Simon Archer (Surrey, UK) is Professor of Financial Management at the University of Surrey in England.