The Islamic community

The Islamic community is a prime example of an institution with a distinct financial system that strictly adheres to Sharia law. Readers of Hans Visser's Islamic Finance: Principles and Practice gain a thorough understanding of some of the key principles that govern how Islamic states engage in financial activity, notably in institutions like banks. The book, on the other hand, is useful not only to economic operators in Islamic countries, but also to financial handlers in other countries that aim to have an operational system that faces few obstacles. Notwithstanding certain limitations, Visser's article provides insight into some of the financial issues that arise in the current world. The book pays considerable attention to different topics which offer valuable information to readers. The author first provides insight into the background nature of how religious activities influence financial operations in Islamic countries. The author points out that the Islamic law is diverse and draws its ideologies from various sources which fall into primary and secondary sections. The writer proceeds to argue that Islamic nations in the current times employ advanced technology in completing financial actions because many people now have education on the value of developing a robust financial system (Visser, 2009). Visser elaborates on the variations which exist between Islamic and conventional banks but takes precaution not to consider the other as being more efficient. The final parts of the book dwell on how the two systems function and give readers a choice to choose the financial institution which they consider to be favorable.

Indications of the Details and Contribution to the Field

The outstanding message in the book is that financial players now embrace sophisticated forms of operations to emerge as the most appreciated service provider. The book indicates that even though Islamic countries lagged behind in economic functions about one and a half decade ago, that is not the situation in the present times where players put more investment to emerge as the best (Visser, 2009). Lastly, the descriptions in the eight chapters of the book enlighten the entire industry on the value of adopting proper operational techniques, and also on the essence of providing enticing deals as well as terms and conditions.

Who would be Interested in Reading the Book

The publication is suitable for a broad range of readers who concentrate on different economic fields. First, the book is suitable for learners who want to acquire knowledge on how financial operations happen in some of the Islamic countries which utilize advanced and moderate techniques in their operations. The book is even more appropriate for students who focus on Islamic finance as the topic of concentration in class because of the vital information Visser presents in the book. Apart from students who may find the book valuable, instructors more so who deal in economic matters will locate the book to be captivating because of the insightful awareness the author gives. Teachers would use the book as a source of information for their lectures, and may also use the book to remain updated with some information which becomes applicable in the classroom setting almost on a regular basis. Finally, practitioners in the economic sector are likely to gain helpful awareness from the publication which uses a form of presentation which fits a professional setting. Practitioners, nevertheless, may only have to go through the sections which they find relevant to their undertakings unless they want to expand their knowledge of Islamic finance.

Limitations of the Book

Readers would realize that Visser's publication has some problems which disqualify it from being perfect in nature, but this is common with virtually all works which may either lack one or several elements. One of the obvious limitations with the book is that the author rarely uses visual aids such as charts, graphs, photographs, and tables to make the writing more attractive to readers. The author, in fact, only uses a single table on page 88 where he summarizes the yields for the borrower and the bank under conventional banking with a 10% interest rate and Islamic banking with a fair profit margin. The book would be easier to understand if the author would include more visual presentations. The second major problem is that the author tends to employ technical terms in some sections which may not be very for armature learners to understand the content in the publication. The book, nevertheless, remains to be a vital source of information.

Summary

The publication by Visser offers crucial information which may suit different parties which have an interest in widening their knowledge on how financial activities take place in Islamic nations and other countries of the world. The audience becomes aware that the financial sector is becoming competitive and that states in Muslim-dominated communities are fast embracing better forms of operations to emerge as leaders in the field. Lastly, readers should be keen while going through the text to acquire the original message because of some of the limitations which may make it difficult to go through the production.

Reference

Visser, H. (2009). Islamic finance: Principles and practice. Cheltenham: Edward Elgar

Publishing Limited.