© Columbia University Press
Product Development In Islamic Banks
Paper, 184 pages,
ISBN: 978-0-7486-3952-6
$40.00
March, 2011
Cloth, 184 pages,
ISBN: 978-0-7486-3951-9
Edinburgh University Press
$120.00
Habib Ahmed systematically deconstructs the development of Islamic financial products for banks. Islamic banking began in the 1970s to establish financial services compatible with Islamic law. Driven by market forces, it has grown rapidly in both Muslim countries and international financial sectors and is projected to grow at an annual rate of fifteen to twenty percent. A key factor of future growth is the availability of new products to satisfy the needs of various investors. While other texts discuss the basic principles and contracts of Islamic banking and finance, this text takes the lead in describing how to take these elements and develop them into desirable financial products. It begins with the basic principles that contribute to the making of Islamic financial products, then details more intricate issues relating to product development. It maps different stages of the development cycle and features case studies that demonstrate the structures of various products. The volume also critically evaluates issues relating to product development, such as the types of products used by Islamic banks and the approaches they adopt to help them grow.