Financial and Accounting Principles in Islamic Finance

1. Auflage 2019
ISBN: 978-3-030-16298-6
Verlag: Springer International Publishing

Buch, Englisch, 354 Seiten, HC runder Rücken kaschiert, Format (B × H): 160 mm x 241 mm, Gewicht: 740 g

This book provides an original account detailing the origins and components of a faith-based accounting system that was founded around 629 CE. By examining the historical development that the accounting systems underwent within the context of faith-based rules and values, the book explains what is meant by the term “faith-based accounting”, together with a discussion of its characteristics in relation to various product structures and the underlying Islamic finance principles. It provides important theoretical and practical contributions by explaining accounting as a value-based science rather than a value-free object or abstract. This book explores the way in which religious rules act as a directive for accounting and auditing practices in IFIs. Through which the concept of money and digital currency within the theory of money and how it is enacted in a faith-based context, amid differences of opinions among its actors, is examined. This is an important foundation to explain Islamic accounting and includes how this outcome would shape the faith-based view regarding the new phenomenon of digital currency (DC). Also featured is the concept of paper money within the theory of money and how it is enacted in a faith-based legal framework by identifying two core concepts of today’s Fiat money as being a single genus or multi-genera money. This book is not merely an academic work, nor is it a pure practitioner guide; rather, it is a robust work that combines both. It marries rigorous academic research and theories with practical industry experiences. The book provides a clear and concise guide to accounting in Islamic economics and finance and how Islamic financial institutions could meet the applicable faith-based rules in their accounting practices.

Zielgruppe

Research

Autoren/Hrsg.

Alamad, Samir

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Betriebliches Rechnungswesen
• Geisteswissenschaften Islam & Islamische Studien Islam & Islamische Studien
• Rechtswissenschaften Recht, Rechtswissenschaft Allgemein Rechtsvergleichung

Inhaltsverzeichnis

Chapter 1 Introduction: The Basics of Islamic Economics and Finance.- Chapter 2 Money, Its Origins, Nature and the Time Value of Money.- Chapter 3 An Analysis of Paper Money and the Concept of Multi-Genus Banknotes.- Chapter 4 The Origins of Accounting in the Islamic Economics and Finance System.- Chapter 5 Islamic Financial Instruments: Accounting of Equity-Based Contracts.- Chapter 6 Islamic Financial Instruments: Accounting of Sale-Based Contracts.- Chapter 7 Islamic Financial Instruments: Accounting of Debt-Based Contracts.- Chapter 8 Islamic Financial Instruments: Accounting of Charitable Contracts.- Chapter 9 Technical Analysis of the International Financial Reporting Standard 9.- Chapter 10 Technical Analysis of IFRS 9 Application to Sukuk.- Chapter 11 Internal Capital Adequacy Assessment in IFIs.- Chapter 12 Liquidity Assessment, Recovery and Resolution Strategies in IFIs.- Chapter 13 Stress Testing Methodologies for Islamic Finance.- Chapter 14 Conclusion.- Index.

Über Autor(innen)

Samir Alamad is a senior professional and expert in the Islamic banking and finance industry, an economist and a published author. He holds a PhD degree from Aston University Business School. Currently, he is the head of Sharia compliance and product development at Al Rayan Bank. He is also an AAOIFI Certified Sharia Advisor and Auditor (CSAA) and a visiting lecturer at various universities.