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BL
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| Record Number
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861550
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| Main Entry
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Alamad, Samir
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| Title & Author
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Financial and accounting principles in Islamic finance /\ Samir Alamad.
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| Publication Statement
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Cham, Switzerland :: Springer,, [2019]
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| Page. NO
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1 online resource (368 pages)
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| ISBN
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3030162990
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: 3030163008
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: 3030163016
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: 9783030162993
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: 9783030163006
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: 9783030163013
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3030162982
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9783030162986
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| Notes
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4.4 Accounting, Internal Control and Audit in the Faith-Based System
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| Contents
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Intro; Preface; Acknowledgement; Contents; List of Common Abbreviations; List of Figures; List of Tables; Chapter 1: Introduction: The Basics of Islamic Economics and Finance; 1.1 Fundamentals of Islamic Law and Islamic Finance; 1.2 Islam: Comprehensive Guidance in All Human Affairs; 1.2.1 A Universal Message in an Evolving World; 1.2.2 Evolution of Islamic Law; 1.2.3 Common Law Characteristics and Legal Maxims; 1.3 History and Development of Islamic Finance; 1.4 Shariah Guidance in Financial Matters; 1.4.1 Ethics; 1.4.1.1 Individuals; 1.4.1.2 Corporations and Institutions
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1.4.2 Restrictions in Financial Transactions1.4.3 Riba, Usury and Bank Interest; 1.5 Bank Financing Without Riba; 1.5.1 The Jurists ́Approach; 1.5.2 Substance and Form; 1.5.3 The Economists ́Approach; 1.6 Shariah Compliance and Shariah Governance; 1.6.1 Shariah Boards of Islamic Financial Institutions; 1.6.2 Fatwas on Products and Shariah Reports; 1.6.3 National Shariah Board; 1.7 Conclusion; Chapter 2: Money, Its Origins, Nature and the Time Value of Money; 2.1 Introduction; 2.2 The Concept of Money in Society; 2.2.1 Bartering; 2.3 What Is Money?; 2.4 Pre-metallic Money; 2.4.1 Cowrie
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2.4.2 Fijian2.4.3 Wampum: The Favourite American-Indian Money; 2.4.4 Cattle: Manś First Working-Capital Asset; 2.5 Pre-coinage Metallic Money; 2.6 Coinage; 2.7 Paper Money; 2.8 Faith-Based Concept of Money; 2.9 The Nature of Money; 2.10 Time Value of Money; 2.11 Conclusion; Chapter 3: An Analysis of Paper Money and the Concept of Multi-genus Banknotes; 3.1 Introduction; 3.2 The Theory of Money; 3.3 A Comparative Analysis of Paper Money in Islamic Economics; 3.3.1 Paper Money Is Multiple Genera According to Issuing Countries; 3.3.1.1 Evidence Supporting This View
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3.3.2 Paper Money Is a Single Genus Regardless of the Number of Issuing Countries3.3.2.1 Evidence Supporting This View; 3.4 Discussion of the Two Views of Paper Money; 3.4.1 Discussion of the Rationale of the First View; 3.4.2 Discussion of the Rationale of the Second View; 3.5 Digital Currency in the Context of Islamic Jurisprudence; 3.5.1 How Is Digital Currency Money and How It Works?; 3.5.1.1 Bitcoin; 3.5.1.2 Altcoins; 3.5.1.3 Tokens; 3.5.2 Digital Currencies from an Islamic Economics and Finance Perspective; 3.6 Conclusion
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Chapter 4: The Origins of Accounting in the Islamic Economics and Finance System4.1 Introduction; 4.2 Evolution of Accounting Systems and Its Types in Islamic Economics and Finance; 4.3 Components of the Accounting System in Islamic Economics and Finance; 4.3.1 Components of the Accounting System; 4.3.1.1 Physical Factors; 4.3.1.2 Human Components; 4.3.2 Elements of the Accounting System in Islamic Economics and Finance; 4.3.2.1 Documentary Collection; 4.3.2.2 Accounting Book; 4.3.2.3 Directory of Accounts; 4.3.2.4 Reports and Financial Statements
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| Abstract
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This book provides an original account detailing the origins and components of a faith-based accounting system that was founded around 629 CE. By examining the historical development that the accounting systems underwent within the context of faith-based rules and values, the book explains what is meant by the term "faith-based accounting", together with a discussion of its characteristics in relation to various product structures and the underlying Islamic finance principles. It provides important theoretical and practical contributions by explaining accounting as a value-based science rather than a value-free object or abstract. This book explores the way in which religious rules act as a directive for accounting and auditing practices in IFIs. Through which the concept of money and digital currency within the theory of money and how it is enacted in a faith-based context, amid differences of opinions among its actors, is examined. This is an important foundation to explain Islamic accounting and includes how this outcome would shape the faith-based view regarding the new phenomenon of digital currency (DC). Also featured is the concept of paper money within the theory of money and how it is enacted in a faith-based legal framework by identifying two core concepts of today's Fiat money as being a single genus or multi-genera money. This book is not merely an academic work, nor is it a pure practitioner guide; rather, it is a robust work that combines both. It marries rigorous academic research and theories with practical industry experiences. The book provides a clear and concise guide to accounting in Islamic economics and finance and how Islamic financial institutions could meet the applicable faith-based rules in their accounting practices.
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| Subject
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Accounting (Islamic law)
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Accounting-- Islamic countries.
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Banks and banking-- Religious aspects-- Islam.
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Finance (Islamic law)
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Finance-- Religious aspects-- Islam.
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Accounting (Islamic law)
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Accounting.
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Banks and banking-- Religious aspects-- Islam.
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| Subject
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Finance (Islamic law)
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Finance-- Religious aspects-- Islam.
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| Subject
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Islamic countries.
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| Dewey Classification
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332
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332.109176
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| LC Classification
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HG187.4.A43 2019
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