New Issues in Islamic Finance and Economics: Progress and Challenges
1 Development and Progress of Islamic Finance 1
2 Issues and Challenges 47
3 Islamic Finance and Globalization: Convergence and a
Boost for Rapid Growth? 75
4 Globalization and Its Implications for Muslim Countries 111
5 Expanding Financial Frontiers 129
6 Reputational Risk for the Islamic Financial Industry 149
7 Design of Benchmark for Asset Pricing 179
8 Qard-ul-Hassan-based Microfinance 197
9 Developing the Theoretical Foundations of Economics in Islam 211
10 Islam and Economic Development 243
11 Taxation and Public Expenditures in Islam 263
12 Scope of Social Safety Net in Islam: A Case Study 293
DR. ZAMIR IQBAL works as Lead Investment Officer with the Quantitative Strategies, Risk and Analytics department in the Treasury of the World Bank in Washington, D.C. He earned his Ph. D.in international finance from the George Washington University, where he also serves as adjunct faculty of international finance. He has published several articles on Islamic finance in journals of repute and has presented papers at international forums. He has extensive experience with capital markets, structured products, risk management, financial sector development, and financial modeling.His research interests include Islamic Finance, Financial Engineering,Structured Finance and International Banking. He is co-author of Introduction to Islamic Finance: Theory and Practice (2007) and Risk Analysis for Islamic Banks (2007).
DR. ABBAS MIRAKHOR, born in Tehran, Islamic Republic of Iran, attended Kansas State University, where he received his Ph. D. in economics in 1969. From 1969 to 1984, he taught in various universities in the U.S. and Iran. From1984 until 1990, he served on the staff of thief, and from 1990 to 2008, he served as the Executive Director for Afghanistan, Algeria, Ghana, Islamic Republic of Iran, Morocco, Pakistan, and Tunisia on the Executive Board of the IMF. Dr. Mirakhor is the co-author of Essays on Iqtisad: Islamic Approach to Economic Problems (1989), Theoretical Studies in Islamic Banking and Finance (1987), and Introduction to Islamic Finance: Theory and Practice (2007). He has received several awards including “Order of Companion of Volta” for service to Ghana, conferred by the President of Ghana in 2005; Islamic Development Bank Annual Prize for Research in Islamic Economics, shared with Mushin Khan in2003, and “Quaid-e Azam” star for service to Pakistan, conferred by the President of Pakistan in 1997.