Islamic Finance For Dummies
by Faleel Jamaldeen, DBA, with Joan Friedman
Islamic Finance For Dummies
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Copyright 2012 by John Wiley & Sons, Inc.
Published simultaneously in Canada
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ISBN 978-0-470-43069-9 (pbk); ISBN 978-1-118-22020-7 (ebk); ISBN 978-1-118-28918-1 (ebk); ISBN 978-1-118-23390-0 (ebk)
Manufactured in the United States of America
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About the Authors
Faleel Jamaldeen, DBA, is the founder and editor of the Islamic Finance Expert website ( ifinanceexpert.wordpress.com/
), which provides expert information about the Islamic finance industry. Through his website, Dr. Jamaldeen provides Islamic finance educational consultancy. After nearly a decade of working in the Islamic finance and conventional finance industries in the Middle East region and the United States, Dr. Jamaldeen is now an assistant professor of Islamic finance and conventional finance at the College of Business, Effat University, Jeddah, Saudi Arabia. He has extensive experience with accounting, conventional finance, and Islamic finance; he has published multiple journal and newspaper articles on the subject of Islamic finance and has presented papers at international forums. Dr. Jamaldeen has a Doctor of Business Administration degree from the California University of Business and Technology. His research interests include Islamic finance, Islamic accounting, and Islamic financial engineering.
Dedication
Thanks to my wife, Fathima Fazuha, and my son, Saad, for their love, support, and patience.
Authors Acknowledgments
I would like to take the opportunity to express my thanks to the many friends and strangers who helped me with this book. Among them are acquisitions editor Tracy Boggier, project editors Jenny Larner Brown and Vicki Adang, copyeditor Megan Knoll, and technical reviewer Aida Othman.
Special thanks go to Joan Friedman, who helped with writing the book. And, last but not least, I thank my agent Margot Hutchison, who made it all happen.
Publishers Acknowledgments
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T he years 2008 and 2009 werent exactly auspicious for many banks, brokerages, and other financial firms around the globe. (Hows that for an understatement?) In the United States, large financial institutions such as Lehman Brothers and Bear Stearns collapsed after getting entangled in the mortgage-backed securities market. Other large financial firms required government support to stay alive. The severity of the global financial crisis that followed has been described as second only to the Great Depression. Yet from 2008 to 2009, the assets of the 500 top Islamic financial institutions grew from $639 billion to $820 billion.