An Introduction to Islamic Finance
Mufti Muhammad Taqi Usmani
The most widely read English-language primer on Islamic finance
The most widely read English-language introduction to Islamic finance. Covers riba prohibition and the major contracts — Musharakah, Mudarabah, Murabaha, Ijara — essential reading for any student.
Mufti Muhammad Taqi Usmani's An Introduction to Islamic Finance is the single most important English-language text for anyone beginning their study of Islamic finance. Written by the world's foremost Islamic finance scholar, this compact but comprehensive volume explains the foundational principles of Islamic finance without sacrificing scholarly rigour.
The book opens with the philosophical foundation: why Islam prohibits riba, what makes a financial transaction permissible or prohibited, and how Islamic economics differs from both capitalism and socialism. It then builds a complete survey of the major Islamic finance instruments: Musharakah and Mudarabah (equity-based partnerships), Murabaha (cost-plus sale), Ijara (leasing), Salam and Istisna (forward and manufacturing contracts).
The final section covers Islamic banking structure — how banks accept deposits and make financing available without charging interest.
Mufti Muhammad Taqi Usmani
Vice President, Darul Uloom Karachi · AAOIFI Shariah Board Chairman · Former Judge, Supreme Court of Pakistan
The world's foremost Islamic finance scholar. Chairs the Shariah boards of dozens of global Islamic banks and the AAOIFI. Author of the landmark Supreme Court judgment on riba and the most widely read English primer on Islamic finance.
All books by this authorThe book is commercially published by Kluwer Law International and is available for purchase from major booksellers.
Complete beginners — no prior knowledge of Islamic jurisprudence or finance required. Equally valuable for finance professionals wanting first-principles understanding.
This book is part of a structured 10-unit course — 185+ lessons, every one with a real-world action. Go from reading to doing.