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| Islamic Finance: Institutions, Industry, Governance |
Islamic Financial Institutions (IFIs)
The 1st chapter, "Islamic Financial
Institutions (IFIs)," from the book "Islamic Finance: Institutions, Industry, Governance,"
is the foundational chapter of this book as well as Islamic ecosystem
infrastructure. This chapter explores the contemporary landscape of IFIs, providing a
comprehensive overview of their evolution, key functions, and significant
contributions to the field of Islamic finance.
In an era marked by globalization and increasing financial
complexity, Islamic financial institutions (IFIs) have emerged as dynamic and
innovative players in the global economy. Rooted in the principles of Islamic
jurisprudence, IFIs offer a unique approach to finance that emphasizes ethical
and socially responsible investment.
By systematically categorizing IFIs into knowledge-centric,
central, subsidiary, and ancillary institutions, this chapter offers a novel
framework for understanding the diverse roles played by these organizations. It
explores the activities of leading IFIs, such as the Islamic Fiqh Council
(IFC), the Accounting and Auditing Organization for Islamic Financial
Institutions (AAOIFI), the Islamic Development Bank (IsDB), the Islamic
Financial Services Board (IFSB), the International Islamic Liquidity Management
Corporation (IILM), etc.
Furthermore, the chapter sheds light on the crucial role
played by IFIs in developing Shari'ah-compliant standards, products, and
services. It examines the impact of these institutions on the global Islamic
economy, including their contributions to financial inclusion, risk management,
and sustainable development. By understanding the intricate workings of IFIs,
readers will gain valuable insights into the future of Islamic finance and its
potential to shape the global financial landscape.
Order Your Copy Here
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Islamic Finance: Institutions, Industry, Governance
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| Islamic Finance: Institutions, Industry, Governance |
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