Edited by Mervyn K. Lewis, Emeritus Professor, University of South Australia and Emeritus Fellow, Academy of the Social Sciences in Australia, Mohamed Ariff, Chair of Economics and Finance, Sunway University and Shamsher Mohamad, Professor of Finance, International Centre for Education in Islamic Finance, Malaysia

• Contents:1. Issues in the Risk and Regulation of Islamic BankingMohamed Ariff, Mervyn K. Lewis and Mohamad Shamsher PART I THEORIES OF ISLAMIC BANKING2. A Theoretical Perspective on Islamic Banking and Financial IntermediationMervyn K. Lewis 3. Objectives of Islamic Banking: a Theoretical DiscussonAkram Laldeen4. Similarities and Differences in Islamic and Conventional BankingMohamed Ariff and Mervyn K. Lewis5. Towards Making ‘Islamic’ Banking IslamicMunawar Iqbal Part II: Regulation of Islamic banking6. Foundations of Risk-Sharing Finance: An Islamic ViewAbbas Mirakhor 7. The Role of the Central Bank in Dual Banking MalaysiaMohamad Shamsher and Veelaiporn Promwichit8. A Case Study of the Liquidity Management Centre in BahrainSat Paul Parashar Part III: BANKING PRODUCTS AND MARKETS9. Non-interest Financing Arrangements in Three Abrahamic ReligionsAhmad Kaleem and Mervyn K. Lewis10. Need for Pricing Information to Value Sukuk SecuritiesMeor Ayeob11. Major Islamic Banking Products and Markets: A Preliminary AnalysisMohamed Ariff and Mesam Safari12. Financial Market Operations in the United States: Ethical Issues and Lessons for Islamic BankingRaquibuz ZamanPART IV: PRACTICAL ISSUES 13. Challenges in Rating Islamic Financial InstitutionsYeoh Kim Leng and M.Z. Othman14. Islamic Norms, Excel Time Value Formula and Housing Finance ModelsZubair Hasan 15. Islamic Finance in AustraliaMichael Skully16. Risk Management and Derivatives in Islamic FnanceI. Bacha Obiyathullah 17. Development Needs of the Islamic Banking IndustryMohamed Ariff, Mervyn K. Lewis and Mohamad Shamsher Index

Edited by Mervyn K. Lewis, Emeritus Professor, University of South Australia and Emeritus Fellow, Academy of the Social Sciences in Australia, Mohamed Ariff, Chair of Economics and Finance, Sunway University and Shamsher Mohamad, Professor of Finance, International Centre for Education in Islamic Finance, Malaysia

• Contents:1. Issues in the Risk and Regulation of Islamic BankingMohamed Ariff, Mervyn K. Lewis and Mohamad Shamsher PART I THEORIES OF ISLAMIC BANKING2. A Theoretical Perspective on Islamic Banking and Financial IntermediationMervyn K. Lewis 3. Objectives of Islamic Banking: a Theoretical DiscussonAkram Laldeen4. Similarities and Differences in Islamic and Conventional BankingMohamed Ariff and Mervyn K. Lewis5. Towards Making ‘Islamic’ Banking IslamicMunawar Iqbal Part II: Regulation of Islamic banking6. Foundations of Risk-Sharing Finance: An Islamic ViewAbbas Mirakhor 7. The Role of the Central Bank in Dual Banking MalaysiaMohamad Shamsher and Veelaiporn Promwichit8. A Case Study of the Liquidity Management Centre in BahrainSat Paul Parashar Part III: BANKING PRODUCTS AND MARKETS9. Non-interest Financing Arrangements in Three Abrahamic ReligionsAhmad Kaleem and Mervyn K. Lewis10. Need for Pricing Information to Value Sukuk SecuritiesMeor Ayeob11. Major Islamic Banking Products and Markets: A Preliminary AnalysisMohamed Ariff and Mesam Safari12. Financial Market Operations in the United States: Ethical Issues and Lessons for Islamic BankingRaquibuz ZamanPART IV: PRACTICAL ISSUES 13. Challenges in Rating Islamic Financial InstitutionsYeoh Kim Leng and M.Z. Othman14. Islamic Norms, Excel Time Value Formula and Housing Finance ModelsZubair Hasan 15. Islamic Finance in AustraliaMichael Skully16. Risk Management and Derivatives in Islamic FnanceI. Bacha Obiyathullah 17. Development Needs of the Islamic Banking IndustryMohamed Ariff, Mervyn K. Lewis and Mohamad Shamsher Index

Edited by Mervyn K. Lewis, Emeritus Professor, University of South Australia and Emeritus Fellow, Academy of the Social Sciences in Australia, Mohamed Ariff, Chair of Economics and Finance, Sunway University and Shamsher Mohamad, Professor of Finance, International Centre for Education in Islamic Finance, Malaysia

• Contents:1. Issues in the Risk and Regulation of Islamic BankingMohamed Ariff, Mervyn K. Lewis and Mohamad Shamsher PART I THEORIES OF ISLAMIC BANKING2. A Theoretical Perspective on Islamic Banking and Financial IntermediationMervyn K. Lewis 3. Objectives of Islamic Banking: a Theoretical DiscussonAkram Laldeen4. Similarities and Differences in Islamic and Conventional BankingMohamed Ariff and Mervyn K. Lewis5. Towards Making ‘Islamic’ Banking IslamicMunawar Iqbal Part II: Regulation of Islamic banking6. Foundations of Risk-Sharing Finance: An Islamic ViewAbbas Mirakhor 7. The Role of the Central Bank in Dual Banking MalaysiaMohamad Shamsher and Veelaiporn Promwichit8. A Case Study of the Liquidity Management Centre in BahrainSat Paul Parashar Part III: BANKING PRODUCTS AND MARKETS9. Non-interest Financing Arrangements in Three Abrahamic ReligionsAhmad Kaleem and Mervyn K. Lewis10. Need for Pricing Information to Value Sukuk SecuritiesMeor Ayeob11. Major Islamic Banking Products and Markets: A Preliminary AnalysisMohamed Ariff and Mesam Safari12. Financial Market Operations in the United States: Ethical Issues and Lessons for Islamic BankingRaquibuz ZamanPART IV: PRACTICAL ISSUES 13. Challenges in Rating Islamic Financial InstitutionsYeoh Kim Leng and M.Z. Othman14. Islamic Norms, Excel Time Value Formula and Housing Finance ModelsZubair Hasan 15. Islamic Finance in AustraliaMichael Skully16. Risk Management and Derivatives in Islamic FnanceI. Bacha Obiyathullah 17. Development Needs of the Islamic Banking IndustryMohamed Ariff, Mervyn K. Lewis and Mohamad Shamsher Index