Annual turnover for Islamic banks is now estimated at ＄350 billion, compared with ＄5 billion in 1985. More than 250 financial institutions in 45 countries now practice some form of Islamic
banking, and the system has developed its own infrastructure to meet Sharia standards. The authors, experts for the World Bank, describe the principles and key stakeholders of Islamic financial
institutions, including the operation of financial systems, the theory and practice of Islamic financial instruments, and the desired outcomes of corporate governance. They provide a framework
for risk analysis and describe the structure of the balance sheet and income statement, then analyze credit risk management, asset-liability management, liquidity, market risks, operational
risks, and risks associated most closely with Islamic banking. They describe governance and regulation of Islamic banks, including the relationship between risk analysis and bank supervision,
and list issues likely to arise soon. Annotation 穢2008 Book News, Inc., Portland, OR (booknews.com)
