CURRENT DEVELOPMENTSN IN THEORY AND PRACTICE.
Dr. Munawar Iqbal is currently Chief of the Islamic Banking and Finance Division, Islamic Research and Training Institute (IRTI), Islamic Development Bank, Jeddah.
He studied Economics at Punjab University, Lahore (MA 1972), McMaster University, Canada (MA 1976) and Simon Fraser University, Canada (Ph.D 1979). He taught Economics at Simon Fraser University and worked as Senior Research Economist, Pakistan Institute of Development Economics (PIDE), Islamabad; Dean, Faculty of Social Sciences, International Islamic University, Islamabad and Director, International Institute of Islamic Economics, Islamabad. He has published more than 20 research papers and has edited several books on Islamic Economics and Banking and is also the Editor of the Islamic EconomicStudies of IRTI.
Islamic Banking and Finance: Current Developments in Theory and Practice
is the first of two volumes based on papers presented at the Fourth International Conference on Islamic Economics and Banking held at Loughborough University, UK, during August 13-15, 2000. The book discusses the performance, prospects and challenges facing the Islamic financial industry and highlights the opportunities offered by profit-sharing as an alternative way of performing financial intermediation. In addition to some 200 Islamic banks working in Muslim as well as non-Muslim countries, some of the biggest multinational banks, such as, Hong Kong and Shanghai Banking Corporation, Citibank, Chase Manhattan, etc. are also offering Islamic financial products. The size of the Islamic banking industry exceeds $200 billion and is growing at a double-digit rate annually.
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