New Handbook of Islamic Banking and Finance

The Handbook of Islamic Banking & Finance will be launched by BAB at the IMF/World Bank meetings in Washington DC in early October. The publication explains in plain language for the non-specialist the intricacies of Sharia-compliant banking and finance.

Topics covered in an easy-to-read style include retail and commercial banking, capital markets, asset management, Islamic insurance and governance and regulation.

Perhaps the most valuable element of the Handbook of Islamic Banking & Finance is a comprehensive Glossary of Terms for those who are unable to distinguish between 'Ijara' and 'Istijrar' or 'Musharaka' and 'Murabaha.'

BAB's CEO, Robert Ainey, said that now is a good time to publish this valuable reference guide: "Islamic Banks have generally weathered the financial crisis. With assets of about $1 trillion, the Islamic finance industry can expect further growth as it attracts more funds from the world's Muslim population. There is a clear need for coherent and jargon-free commentary on this important subject."

The Handbook of Islamic Banking & Finance is a 72-page paperback and costs BD6.500 ($ 17.25). Copies can be ordered from The Bahrain Association of Banks, P.O.Box 1034, Manama, Kingdom of Bahrain. Telephone:+973 1782 3000; email: subscriptions@banksbahrain.org.

BAB, established by a Ministerial decree in 1979, brings together some 100 banking institutions of all sizes and charters in the Kingdom of Bahrain and works to enhance Bahrain's image as the financial hub of the Middle East. BAB's mission is to serve its members by representing and advocating the interests of the Kingdom's banks and showcasing them as pre-eminent providers of financial services in the region. Working closely with the Central Bank of Bahrain, BAB assists it in formulating banking policy and regulation.