ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book argues that the case for the standardization of the Islamic banking and finance (IBF) products across various schools of Islamic thought. It discusses developments in Islamic finance and the financial products offered. The book reviews the historical development of IBF products from the early days of Islam to the 21st century. It deals with the issuance of Islamic bonds, focusing on the role of ownership and governance structure in raising capital. The book examines practices of ensuring Shari’ah compliance, in particular the increasing diversity of fatawa concerning matters of muamalat, finance, banking and the real economy. It considers the dynamic correlation and volatility linkages between stocks and sukuk. The book outlines the misconceptions surrounding IBF. It focuses on the threats, challenges and opportunities which confront Islamic banks and the implications for portfolio management by investors.
