Islamic Finance: New Issues and Steps Forward

Principles of Islamic Finance: New Issues and Steps Forward is a definitive book by economist Hussein Elasrag that outlines the operational frameworks, modern bottlenecks, and future evolutionary paths of the Shari'ah-compliant financial sector. The text addresses how an inherently ethical, asset-backed financial system can scale globally by integrating financial technology and reforming corporate structures. Elasrag highlights critical operational frictions that stall the contemporary expansion of Islamic financial institutions (IFIs): 1. The SME Financing Gap.2. Corporate Governance & Shari'ah Auditing.3. Superficial Corporate Social Responsibility (CSR).To accelerate global adoption and smooth operational friction, the book details actionable reform sequences:1. Implement Financial Technology.2. Harmonize Regulatory Standards.3. Diversify the Product Portfolio.