This is how Islamic Banking really works
 
Volume 3 of the Islamic Banking in Practice series covers the three main areas of Retail Banking, Risk Management and Structured Investments.
 
Key products in all of these areas are discussed and explained in detail, covering the different types of contracts and structures used in the Islamic Banking and Finance sector. The journey in transforming classical contracts (such as Murabaha, Mudarabah, Wakala, Ijara and so on) into finished products that are executed, is a compelling one. This includes the transformation of inherent risks to suit the parties involved.
 
This process of transformation highlights the perpetual conflict that exists within the industry – how to utilise classic contractual forms to deliver (overwhelmingly) products that are priced at interest.