ISLAMIC BANKING AND FINANCE IN SOUTH-EAST ASIA

Its Development and Future
(2nd Edition)

by Angelo M Venardos

Angelo M Venardos has degrees in Economics and Marketing, an MBA, a Masters of Jurisprudence (Corp & Comm. Law), and a Doctorate of Legal Science in the area of the global regulation of offshore financial centers. A banker by training, he commenced his international career in Hong Kong in 1978. Born in Australia of Greek parents, Angelo is a permanent resident of Singapore, where he is the Executive Director and Founder of the Heritage Trust Group. Since writing this book, he has been an active speaker at international Islamic Banking seminars, forums and conferences conducted in Singapore, Malaysia and Australia.

To truly understand the current interest in the development of Islamic banking and finance in South-East Asia and how it is different from the conventional banking system, one must first understand the religious relationship originating from the Qur'an, and then trace the historical geographic and political developments of Islam over recent centuries. Only on this basis can the reader, without prejudice or cynicism, begin to appreciate Shari'ah law and Islamic jurisprudence. With this platform established in the first part of the book, readers are invited to learn about the financial products and services offered, understand the challenges in their development, and ultimately recognize the significant opportunities that Islamic banking and finance can provide both Muslims and non-Muslims.

This second edition contains updates of statistics and dates with regards to the development of Islamic banking in Malaysia, Singapore, Indonesia and Brunei. In particular, the chapter on Singapore details significant developments such as the direction which major banks are taking towards Islamic banking and the increase in Islamic banking products being offered.

Although written by a non-Muslim author, this highly-regarded book is being translated into Arabic by a leading Islamic university in the Middle East.

Table of Contents

Readership: Investors; bankers; financial industry players; upper-level undergraduates and post graduate students in Islamic studies, banking and finance.

“… his insightful elucidation on the subject has nevertheless drawn widespread acclaim from critics all over the world. The first book of its kind to lay bare the mystique surrounding Islamic banking and finance, this highly-regarded book has even attracted interest from a leading Islamic university in the Middle East, an extraordinary feat considering he is a relative outsider compared to the many Arabs who have commented on the topic.”

BusinessCraft

Review of the First Edition: “This volume will be of value to anyone interested in the history, methods, and rules of Islamic finance in Southeast Asia. It is written by a non-Muslim who views the subject through a different prism, which makes the book unique.”

Choice

Review of the First Edition: “The author has done an excellent job of taking the reader through a variety of linked elements as they relate to Islam, e.g., history, law, economic development, culture, finance, banking … which have then been described within a variety of countries in the South-east Asian region.”

Charles F Steilen
Hawaii Pacific University, Honolulu

Review of the First Edition: “Very well-written and informative … The author succeeds where most writers on this subject fail. He has produced a balanced and well-written study, which at no point in the text slips into value judgement. In this sense, he sets a standard for future studies of this ever-changing field. Angelo M Venardos's book is about a mature modern banking system and the challenges of adapting to a changing business environment characterized by the globalization of the financial industry and the increasing sophistication of banking business.”

Mamouda Mbemap
Editor
Journal of Restructuring Finance

Review of the First Edition: “Readers will appreciate the accessible and readily comprehensible way in which the book is written. The author seeks to give a broad overview of the landscape of Islamic banking in Southeast Asia. To his credit, he manages to achieve this in a rather slim volume while providing depth of analysis at the same time.”

Asian Journal of Comparative Law

Review of the First Edition: “It provides an excellent background, not only to the development of Shari'a banking principles, but also with reference to the history of Islam in South East Asia … This is a much needed guide for those interested in the evolution of Islamic banking and finance in South East Asia. It outlines not only the intricacies of a technically complex area of the financial markets in this important region.”

Step Avanti

256pp
Pub. date: Oct 2006

eISBN: 9789812773050

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