Islamic Financial System: Principles & Operations The Islamic Financial System: Principles & Operations textbook is a flagship publication of ISRA Research Management Centre and has been used as a major reference by more than 60 higher learning institutions offering Islamic finance courses, both locally and internationally. The book provides comprehensive coverage of the Islamic financial system, ranging from its theoretical and conceptual framework to the practical aspect. This third edition of the textbook serves as a vital reference for various stakeholders including academics, students, scholars, practitioners and regulators in the field through: • Revised and updated contents with the latest data, literature, trends, case studies, international practices, regulations, governance and future directions of the industry. o Additional contents to reflect the industry’s latest developments: o Progression of the industry into value-based intermediation and sustainability. o Integration of the Islamic social finance sector within the mainstream Islamic finance industry. • Revised and updated contents with the latest data, literature, trends, case studies, international practices, regulations, governance and future directions of the industry. • Increased leverage on financial technology (fintech) within Islamic financial institutions operations. • Enhanced chapters with newly added multiple-choice questions (MCQs) and revised ‘Review Questions and Problems’ provided at the end of each chapter. Answers for the MCQs are provided at the end of the book. • Easily understood and clear language with improved visual materials in the form of infographics, illustrations, exhibits and tables. Key subjects covered in the book include: • The Islamic financial system and its development • Shari’ah principles and contracts for Islamic financial transactions • Islamic banking operations and instruments • Islamic financial markets including the money market, ṣukūk market and Islamic equity market • Takāful and retakāful • Corporate and Sharīʿah governance • Risk management principles and mechanisms • Legal and regulatory frameworks • Accounting and taxation