Praise for ISLAMIC BANKING

"As many would say that the worst of the financial crisis is now behind us, it is indeed an opportune time for the expert materials (such as this book) on the issues of risk and profitability, particularly with reference to the Islamic financial services industry."
—Adnan Ahmed Yousif, President and Chief Executive, Al Baraka Banking Group and Chairman, Union of Arab Banks

"There is a need for a clear exposition of risk in Islamic banking–where it differs from risk in interest-based banks; and where it is the same. El Tiby has filled that gap. He understands the regulatory environment very well and the way Islamic finance has developed in recent years in the Gulf and elsewhere."
—Sir Howard Davies, Director, London School of Economics

"This book is a valuable and highly needed addition to the Islamic finance literature. Starting with its thorough research into the background and origins of Islamic finance to the detailed yet simple explanation of Islamic finance instruments and the regulatory framework, this book is a must-read for everyone interested in the Islamic finance business."
—Mohammad Nasr Abdeen, Chief Executive Officer, Union National Bank

"The book is a worthwhile addition to the literature on Islamic finance."
—From the Introduction by Dr. Wafik Grais, Senior Advisor, World Bank

"This book represents an important academic contribution to existing research on the system and business of Islamic banking. It provides a wealth of information and data, and comprises a thorough investigation covering the history of the development of Islamic banks, their strategies for facing financial risk, and the various highly successful aspects of the Islamic financial system."
—Dr. Jamal S. Al-Suwaidi, Director General, Emirates Center for Strategic Studies and Research

"Islamic banking has become a major component of world finance, and increasingly so. El Tiby, a banker himself with long experience in Islamic banking, offers us a clear presentation of the risks and regulatory mechanisms for this new area of finance. This book is long overdue."
—Hazem Beblawi, Advisor, Arab Monetary Fund