Islamic Finance

Law and Practice

Second Edition

Edited by Craig Nethercott and David Eisenberg

The most comprehensive practical guide to the law relating to Islamic finance transactions
- The most comprehensive practical guide to the law relating to Islamic finance transactions Provides detailed coverage of the core traditional Islamic transactional structures with relevant case-studies, structure diagrams, and precedent material
Explains the general background to Islamic finance and Islamic law in clear and thematic introductory chapters
Highly experienced and respected editor and contributor team

New to this Edition:

Entirely new chapter on Islamic investment funds
Expanded 'Sukuk' chapter incorporating case studies of the most common sukuk structures, the role of sukuk in project finance, sovereign sukuk in Qatar and the UK, and rating methodologies for sukuk instruments
Wakala (agency) is covered in even more detail in the 'Istisna and Ijara' chapter
The 'Islamic Financial Institutions' chapter has been updated to take account of new legislative and prudential regulation

Islamic Finance

Law and Practice

Second Edition

Edited by Craig Nethercott and David Eisenberg

Description

This book is the most comprehensive and authoritative practical guide to financial transactions under Islamic law. Global interest in Shari'a-compliant financial practices continues to increase, but Islamic financial products can often be hard to understand, not least because they often cut across rather than strictly align with more conventional financial products. This book provides the necessary explanation by explaining the theoretical underpinnings of Islamic finance as a whole before going on to examine the major individual transaction structures in detail.

The first part of the book informs the reader about the general background to Islamic Finance and the relevant aspects (and sources) of Islamic law. It also considers the role of Shari'a supervisory boards, Islamic financial institutions and accounting approaches.

The second part of the book concentrates on Islamic financial law in practice by focusing on individual concepts and techniques. This section explains the basic requirements for Islamic finance contracts both in terms of the underlying asset types and also both the applicability and acceptability of the underlying asset. Arrangements discussed include Mudaraba (trustee finance), Musharaka (partnership or joint venture), Murabaha (sale of goods), and Sukuk (participation securities: coupons etc). Takaful (insurance) is also examined in detail. A new chapter has also been added to this second part of the book detailing the principles of Islamic investment funds and commonly applied structures.

Islamic Finance

Law and Practice

Second Edition

Edited by Craig Nethercott and David Eisenberg

Part I - Introduction
1. Status of the Global Islamic Finance Industry, Ibrahim Warde
2. Sources and Principles of Islamic Law in Relation to Finance, David Eisenberg
3. Islamic Financial Institutions, Andrew Henderson & Ben Moylan
4. Accounting and Taxation Approaches, Ken Eglinton
5. Dispute Resolution, Andrew White
6. Corporate Governance for Institutions Offering Islamic Financial Services, Barry Rider
Part II - Islamic Law and Contracts In Practice
7. Mudaraba and Musharaka, Julian Johansen and Atif Hanif
8. Murabaha and Tawaruq, Craig Nethercott
9. Derivatives in Islamic Finance, David Eisenberg
10. Istisna and Ijara, Craig Nethercott
11. Sukuk, Julian Johansen, Atif Hanif, and Edana Richardson
12. Takaful, Peter Hodgins
13. Islamic Investment Funds, Zeeshan Ahmedani and Safdar Alam
14. Appendix: Guide to Further Reading, Craig Nethercott and David Eisenberg

Islamic Finance

Law and Practice

Second Edition

Edited by Craig Nethercott and David Eisenberg

Author Information

Craig Nethercott, Partner, Latham & Watkins LLP, and David Eisenberg, Former Partner, Formerly White & Case LLP.

Craig Nethercott is a Partner in the Finance group and is Co-chair of the global Islamic Finance Practice at Latham & Watkins LLP.

The late David Eisenberg was Partner at White & Case LLP.

Contributors:

Ibrahim Warde
David Eisenberg
Andrew Henderson & Ben Moylan
Ken Eglinton
Andrew White
Barry Rider
Julian Johansen and Atif Hanif
Craig Nethercott
David Eisenberg
Craig Nethercott
Julian Johansen, Atif Hanif, and Edana Richardson
Peter Hodgins
Zeeshan Ahmedani and Safdar Alam
Craig Nethercott and David Eisenberg