Praise for Islamic Finance and Economic Development
“The authors have succeeded in producing a much appreciated, valuable, and constructive contribution in the field that deserves serious consideration by policy makers, financial practitioners, and those interested in accessing a readable, balanced, and competent view of the present and evolving new financing method. Applying the recommendations of the book is sure to produce a more resilient finance and allow smoother transition to the ideal Islamic finance.”
—Professor Abbas Mirakhor, PhD, First Holder of INCEIF’s Chair in Islamic Finance, former IMF Executive Director and Dean of the Board
“Significance of regulatory environment and lapses in governance were highlighted as the key factors contributing to the financial crisis. This volume by Dr. El Tiby and Dr. Grais is very timely since both of these factors have direct relevance to Islamic financial industry. This volume reflects the authors’ vast experience and deep understanding of issues concerning regulations and governance of Islamic financial industry and offers valuable perspectives for the regulators and policy makers. Although others have dealt with the issue of governance, this volume provides an alternative and practical approach. The authors deserve congratulations on this valuable contribution.”
—Zamir Iqbal, PhD, Lead Investment Officer with the Quantitative Strategies, Risk and Analytics department in the Treasury of the World Bank, Washington, DC
“Islamic Finance and Economic Development is a great addition to a library on this growing alternate mode of investment and banking. The book has unique features including in-depth analysis of the present state of Islamic finance industry; the role of International Islamic Infrastructure institutions in the orderly development of the industry; new perspectives on regulatory arrangements; as well as approaches to corporate governance. It touches also on episodes of stress experienced by the industry. The book is a useful and timely addition to the literature on Islamic finance. I am confident it will be of great benefit to its readers.”
—Ijlal Ahmed Alvi, CEO, International Islamic Financial Market
“This book addresses some of the most current and pressing topics of regulation and governance that are peculiar to any Islamic financial institution. Being seasoned bankers, the authors have their fingers on the pulse of the industry and are able to discuss how the industry should respond to the changing needs, and how the regulation should assist in steering its further growth. I believe the book will benefit the industry significantly.”
—Adnan Ahmed Yousif, President and CEO of Al Baraka Banking Group
“I wish to welcome this seminal addition to the library of Islamic Finance and Risk Management books. The book gives clear perspectives about the development, modes, and philosophical basis for Islamic finance. I found the narrative to be very clear and analytical. The book explains well issues of risk management in Islamic financial institutions.”
—Professor Ali Soliman, PhD, Economics, British University in Egypt, former CEO of the Islamic Corporation for the Development of the Private Sector (ICD)
