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Posted by Awwal
- Apr 07, 2026, 10:06 AMThe Islamic Development Bank Institute (IsDBI) has released a groundbreaking book titled Essentials of Islamic Finance, written by Dr. Sami Al-Suwailem, Acting Director General of IsDBI. The publication provides an in-depth explanation of the foundational principles of Islamic finance and highlights how these principles can help address modern economic challenges across the globe.
Originally created as a teaching note in 2011, the book has been extensively revised and expanded. The latest edition combines Sharīʿah guidance, economic reasoning, and practical applications, offering readers a systematic approach to understanding the concepts and practice of Islamic finance. This makes it both an academic resource and a practical guide for professionals.
The book emphasizes the ethical and economic dimensions of Islamic finance, focusing on key concepts like the prohibition of ribā (usury), the role of zakāh and charitable activities, and the avoidance of gharar (excessive risk). It also explains the importance of linking financial activities to real economic production, promoting justice, stability, and shared prosperity in financial systems.
Essentials of Islamic Finance also tackles current global economic issues, including financial crises, post-pandemic inflation, and growing concerns about debt sustainability. By integrating traditional Sharīʿah principles with real-world economic challenges, the book provides a roadmap for creating resilient and ethical financial systems.
In the foreword, Prof. Bambang Susantono, former Vice President of the Asian Development Bank and Member of the IsDBI Board of Trustees, praised the book as a rigorous scholarly work. He noted that it effectively bridges Islamic legal principles with contemporary economic thought, making it valuable for both research and practical policymaking.
The book is intended for a wide audience, including economists, finance professionals, policymakers, regulators, researchers, students, and anyone interested in Islamic finance. By promoting knowledge and capacity building, the publication reflects IsDBI's mission to support ethical, inclusive, and sustainable financial systems worldwide.
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Originally created as a teaching note in 2011, the book has been extensively revised and expanded. The latest edition combines Sharīʿah guidance, economic reasoning, and practical applications, offering readers a systematic approach to understanding the concepts and practice of Islamic finance. This makes it both an academic resource and a practical guide for professionals.
The book emphasizes the ethical and economic dimensions of Islamic finance, focusing on key concepts like the prohibition of ribā (usury), the role of zakāh and charitable activities, and the avoidance of gharar (excessive risk). It also explains the importance of linking financial activities to real economic production, promoting justice, stability, and shared prosperity in financial systems.
Essentials of Islamic Finance also tackles current global economic issues, including financial crises, post-pandemic inflation, and growing concerns about debt sustainability. By integrating traditional Sharīʿah principles with real-world economic challenges, the book provides a roadmap for creating resilient and ethical financial systems.
In the foreword, Prof. Bambang Susantono, former Vice President of the Asian Development Bank and Member of the IsDBI Board of Trustees, praised the book as a rigorous scholarly work. He noted that it effectively bridges Islamic legal principles with contemporary economic thought, making it valuable for both research and practical policymaking.
The book is intended for a wide audience, including economists, finance professionals, policymakers, regulators, researchers, students, and anyone interested in Islamic finance. By promoting knowledge and capacity building, the publication reflects IsDBI's mission to support ethical, inclusive, and sustainable financial systems worldwide.
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