Islamic Finance in the Global Economy

In the past decade, Islamic finance has grown at rates exceeding 20 percent a year and is now a $200 billion industry with operations in more than 70 countries. Ibrahim Warde explains how a system rooted in the medieval era can thrive in today's global economy. He defines Islamic finance in its broadest sense, including banks, mutual funds, securities firms, and insurance companies. Warde places Islamic finance in the context of the global political and economic system and covers such core issues as the moral economy of Islam, differences between countries such as Pakistan, Iran, the Sudan, and Malaysia, and religious issues and challenges. This authoritative book is an invaluable reference for all those with an interest in Islamic and Middle Eastern economics, business, and finance. This second edition has been completely revised and updated to take into account the great changes and developments of recent times.