03 May 2013

Recommended Reading: The Best Books on Islamic Finance (Video)

Posted In: Portfolio Management, Standards, Ethics & Regulations (SER)

A frequent question on the minds of those interested in learning about Islamic finance is, “What’s the best book that I should read?” To answer this question, I spoke with Rodney Wilson, a professor at the University of Durham and a well-known commentator on Islamic finance. His office seemed to have every known title on Islamic finance nicely stacked into his book shelves.

The video interview covers the books that Wilson recommends, and for your convenience, I have also provided a list of these books below:

Takaful Islamic Insurance: Concepts and Regulatory Issues: Covers the fundamentals of takaful and how it differs from conventional forms of insurance.
Islamic Economics: A Short History: A historical perspective on principles underlying Islamic finance.
Islamic Finance: Law, Economics, and Practice: A relatively recent and critical study of modern Islamic finance practice.
Handbook of Islamic Banking: A practical book that covers a wide range of areas in Islamic finance.
The Politics of Islamic Finance: A guide to politics of Islamic finance that includes country case studies of Sudan, Kuwait, Jordan, Turkey, Tunisia, and Egypt.
Islamic Wealth Management: A Catalyst for Global Change and Innovation: Covers fund management and wider asset management issues faced by Islamic finance professionals.
Islamic Investment Banking: Emerging Trends, Developments and Opportunities: A definitive study of Islamic investment banking by Islamic finance professionals.
Islamic Banking and Finance in the European Union: A Challenge: Reviews the challenges posed by Islamic finance in the European Union and the responses of different countries in the union.
Islam and the Moral Economy: The Challenge of Capitalism: Positions Islamic finance in relation to the capitalist system.
Islamic Finance: Principles and Practice: A useful and relatively compact introductory text.
Islamic Law and Finance: Religion, Risk, and Return: A classic that looks at Islamic finance from the point of view of Shariah and secular law.
Islamic Finance in the Global Economy: A self-contained textbook on Islamic finance from a political economy perspective.

If there are other books in Islamic finance that you have found useful, please share their titles using the comments section below.

Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.

Tags: Islamic Finance, Videos

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About the Author(s)

Usman Hayat, CFA

Usman Hayat, CFA, writes about sustainable, responsible, and impact investing and Islamic finance. He is the lead author of "Environmental, Social, and Governance Issues in Investing: A Guide for Investment Professionals;" the literature review, "Islamic Finance: Ethics, Concepts, Practice;" and the research report "Sustainable, Responsible, and Impact Investing and Islamic Finance: Similarities and Differences." He is interested in online learning and has directed three e-courses for CFA Institute: "ESG-100," "Islamic Finance Quiz," and "Residual Income Equity Valuation." The other topics he writes about are macroeconomics and behavioral finance. He has experience working in securities regulation and as an independent consultant. His qualifications include the CFA charter, the FRM designation, an MBA, and an MA in development economics. He has served as a content director at CFA Institute. He is a former executive director at the Securities and Exchange Commission of Pakistan (SECP) and former CEO of the Audit Oversight Board (Pakistan). His personal interests include reading and hiking.

14 thoughts on “Recommended Reading: The Best Books on Islamic Finance (Video)”

Johan Tristan Aslim says:

7 June 2013 at 18:21

Very worthwhile adding to the list is this interview: http://www.halalmonk.com/ajaz-ahmed-khan-sharia-compliant-finance.

Reply
1. Usman Hayat, CFA says:
  
  10 November 2014 at 06:24
  
  Johan Tristan Aslim,
  
  Thanks for visiting the blog and sharing the link.
  
  Reply
Ahmad Zainuddin Salleh says:

19 August 2014 at 01:29

Islamic Financial System: Operations & Operations, ISRA (International Shariah Research Academy for Islamic Finance) ISBN 978-967-349-181-0

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Imranullah Khan says:

22 August 2014 at 08:03

Understanding Islamic Finance by Muhammad Ayub, excellent book especially the chapters on Islamic Contracts (the backbone of operational Islamic finance).

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Mobin Sheikh says:

28 August 2014 at 09:25

Thank you brothers for sharing !!!

Reply
Roslan Abdul Razak says:

2 September 2014 at 05:25

Assalamu’alaykum.

There are many books on Islamic finance, but the best that I have came across for those who wish to understand the basic Islamic financial system are :

1. Islamic Financial System: Operations & Operations, ISRA (International Shariah Research Academy) – written by many scholars, academicians as well as practitioners, including experiences from central bank.

2. Understanding Islamic Finance by Muhammad Ayub (Wiley)

3. A book written by Dr Muhammad Imran Asraf Usmani (apologies can’t recall the title)

Allahuallam. Wassalam.

Reply
1. Usman Hayat, CFA says:
  
  10 November 2014 at 06:23
  
  Roslan Abdul Razak,
  
  Thanks for visiting our blog and sharing your suggestions. Much appreciated.
  
  Reply
mba islamic finance says:

14 October 2014 at 05:38

nice video i will try to read them thanks sir

Reply
1. Usman Hayat, CFA says:
  
  10 November 2014 at 06:22
  
  Thanks for visiting our blog.
  
  Reply
  1. NS Arif says:
    
    14 February 2020 at 02:40
    
    You will find this particular book on Islamic finance extremely interesting.
    
    Book : Murabaha Financing vs Lending on Interest written by Qazi Irfan
    
    Here is the link:
    https://www.amazon.co.uk/dp/B0842B5GKV
    
    Reply
hina says:

9 November 2014 at 12:41

An introduction to islamic finance is also good for prior knowledge

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Faisal mahmud says:

17 July 2016 at 12:27

Assalamu alaikum, Uthman Hayyat, i am currently a postgraduate student of islamic banking and finance, please how can i get and buy above listed books?

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Mohammad Kheir says:

18 January 2017 at 06:26

This is the future. I think the world will turn to the Islamic Finance once it is properly institutionalised and provided adequate ISLAMIC securities.

Reply
MD ANWARUL ISLAM CHOWDHURY says:

15 February 2023 at 23:52

Good sources of specific knowledge and wisdom

Reply