Hossein Askari

New Issues in Islamic Finance & Economics: Progress and Challenges  provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system. In recent years, Islamic finance has becomethe fastest growing sector in the global finance industry. It has expanded beyond its traditional markets to become a global phenomenon.International financial institutions have embraced it as an important offering for their clients. In the face of higher energy prices andgrowing export earnings in a number of Islamic countries, the rapid growth of Islamic finance may be expected to continue. But whether this anticipated growth will indeedc ontinue as before, or even accelerate, will depend on how Islamic institutions and governments respond to the challenges that loom on the horizon.