Another book has been added to the “Economics and law” series launched by the Islamic Culture Research Foundation in 2016. This time the new edition is devoted to the fundamentals of economics and specific features of Islamic banking. The book entitled “Islamic banking” was written by the professor teaching Islamic finance at the World Economics Division of the Economics Department of the Moscow State University, PhD in Economics, expert in Arab studies, Andrey Zhuravlev. The work was edited by A.O. Filonik, PhD in Economics, leading research worker of the Institute of the Oriental Studies of the Russian Academy of Sciences.
The book develops the author’s first seminal work, “The theory and practice of Islamic banking”, which was published in 2002. The new monograph analyses the conceptual fundamentals of Islamic economy as a foundation of Islamic banking and demonstrates how religious and ethic precepts and prohibitions form distinguishing features of Islamic banking. It describes the ways used by Islamic banks to attract investment and to place it in assets. The work includes numerous examples from the experience of Islamic banks in Bahrain, United Kingdom, Malaysia, UAE, Pakistan and other countries. The book is concluded with an analysis of the current state of Islamic banking in the world.