Islamic Finance in Eurasia

Edited by M. Kabir Hassan, Professor of Finance, Department of Economics and Finance, University of New Orleans, US, Paolo Biancone, Professor, Department of Management, University of Turin, Italy and Aishath Muneeza, Professor, School of Graduate and Professional Studies, INCEIF, Malaysia

Contents:

Foreword xv
Federica Miglietta
Acknowledgement xviii
Introduction to Islamic Finance in Eurasia 1
M. Kabir Hassan, Paolo Biancone and Aishath Muneeza

PART I PROGRESS OF ISLAMIC FINANCE IN EURASIA
1 The state of Islamic finance in Europe 7
Omar Rehan Baig, Aishath Muneeza, M. Kabir Hassan
and Paolo Biancone
2 Developments of Islamic Finance in Eastern Europe and
Caucasus Region 27
Madina Kalimullina
3 Islamic Finance in South Asian Association for Regional
Cooperation (SAARC) Countries 44
M. Kabir Hassan, Ismail Mohamed, Shadman Shakib,
Muath Mubarak, Aishath Muneeza and Paolo Biancone
4 The driving factors for the advance of Islamic finance in
Southern Europe 79
Monsurat Ayojimi Salami
5 Growth of Islamic finance in Northern Europe 101
Mouad Sadallah, Mohammed Soufiane Benmoussa and
Saeed A. Bin-Nashwan

PART II POTENTIAL OF ISLAMIC FINANCE IN EURASIA
6 Islamic finance and the demand for Islamic home
financing solutions within the Dutch Islamic consumer segment 129
Erik Lesterhuis, Aishath Muneeza and M. Kabir Hassan
7 Debt-free diminishing Musharaka home finance in the
United Kingdom: An empirical case study of primary finance 150
Salman Hasan and Abu Umar Faruq Ahmad
8 The role of multilateral organizations in the development
of Islamic finance in Asia 162
Priyesta Rizkiningsih, Cindhi Cintokowati,
Randi Swandaru, Aishath Muneeza and M. Kabir Hassan
9 The role of cash waqf in resolving the financing
challenges for human development 184
M. Kabir Hassan, Aishath Muneeza and Paolo Biancone
10 The role of sukuk in developing real estate projects 210
Aishath Muneeza, Sherin Kunhibava, M. Kabir Hassan
and Paolo Biancone

PART III INNOVATIVE ISLAMIC FINANCE
PRACTICES AND CHALLENGES
11 Financial Sustainability Challenges of Hajj Financial
Management Agency (BPKH) in Indonesia: What Really
Matters? 221
Dony Perdana, Saeed A. Bin-Nashwan, Aishath Muneeza
and M. Kabir Hassan
12 Challenges facing the development of Islamic finance in
Western Europe 250
Rihab Grassa
13 Challenges in establishing digital Islamic banks in Malaysia 262
Siti Nuraisyah Binti Mohammed Sulaiman and Aishath Muneeza
14 The challenges facing Islamic finance in Uzbekistan 283
Viktoriya Muzaffarova and Aishath Muneeza
15 Blockchain sukuk to assist financing challenges facing
microfinance in Indonesia 306
Sherin Kunhibava, Zakariya Mustapha, Maryam Khalid
and Aishath Muneeza

Index 323