In Understanding Islamic Finance Muhammad Ayub introduces all the essential elements of this growing market by providing an in‎-depth background to the subject and clear descriptions of all the major products and processes associated with Islamic finance‎.‎ Key features include‎:‎ Discussion of the principles of Islamic finance‎;‎ Introduction to the key products and procedures that International Financial Institutions are using or may adopt to fund a variety of clients ensuring Shari‎'‎ah compliance‎;‎ Discussion of the role Islamic finance can play in the development of the financial system and of economies‎;‎ Practical and operational examples that cover deposit and fund management by banks involving financing of various sectors of the economy‎,‎ risk management‎,‎ accounting treatment‎,‎ and working of Islamic financial markets and instruments‎.‎ This book is not only an important text for all banks and financial institutions entering this particular market with a commitment to building Islamic financial solutions‎,‎ but is also essential reading for undergraduate and postgraduate students of Islamic finance‎.‎