Description

Muslim Law is a unique legal system which is based on religion and implements religious doctrines into legal norms. Islamic banking and Islamic financial products are very special phenomenon. There are many problems that Islamic banks and financial institutions have to face. Some of the problems lie within the heart of the system itself; the major question is how to comply with Koranic rules on contracts on the one hand and modern development of financial market on the other. The main object of the research is a comparative study of Islamic banking and Islamic financial products in UK, US and Malaysia. I suggest that comparative study of Islamic banking and Islamic financial products precisely in those three jurisdictions had potential to reveal many problematic aspects of practice of Islamic finances. It was essential to identify problematic issues before suggesting most suitable solutions to them. This work does not target special group of readers.It might be interesting for every person interested in Islamic finances and Islamic banking, advanced in Islamic finances as well as for the beginner.