The Islamic practice of business and banking has a long history. Whilst theoretical advances have been rapid, the practice of Islamic banking has also experienced unprecedented growth. This timely book offers comprehensive coverage on the fundamental theory of Islamic finance and banking, according to the core concepts of ‘Riba’ and ‘Shariah’ law. The authors explain clearly the distinct features of an Islamic financial system and how it compares with conventional systems. There have been a number of interesting developments in recent years and the authors discuss these fully, along with emerging issues that will influence future developments in Islamic finance.