Islamic Finance: Theory and Practice

Byline: PROF. DR. ANWER I. BURNEY Presently, it is a matter of great concern for the relevant economists and practitioners that the practice of Islamic banking and finance prominently differs from its theory. The root cause or main reason of this difference is that although new financial instruments have been invented or adopted in strict compliance of legal requirements of Shariah, the objective of Shariah has not been fulfilled yet.