The Arab Chamber of Commerce & Industry

Basic Mechanics of Islamic Capitalism is a veritable treasure trove of information on various aspects of the evolution of Islamic finance over the past three decades. The author, Lord Edwin E. Hitti, is a man of vast financial experience and firsthand knowledge of the Islamic and Arab spheres.

His understanding both conceptually and operationally of Islamic banking, acquired through many years as an economic policy advisor and currently, as president of The Arab Chamber of Commerce and Industry in Hong Kong, has enabled him to do justice to a difficult topic. The selection of topics and classifying them is a painstaking and laborious task but not one without its rewards!

The book is the first major publication of its kind within Greater China and will contribute to defining the fundamental features of the workings of Islamic finance and Shariah law.

Topics covered are Islamic culture and its ideas, values and development; Islamic economics and banking systems; Shariah-compliant financial solutions; Islamic funds and trusts; Islamic law, contracts and courts; Islamic insurance; and some reflections on possible future challenges.

The 470-page anthology will be invaluable to scholars, researchers, attorneys, lawmakers and bankers.

“This is an unprecedented work that brings together – in one single source all the concepts needed to not only understand the nature and scope of Islamic banking and finance, but it also offers a perspective on its relevance in the field.

The author has done an excellent job at selecting and editing and compiling this useful anthology.

I congratulate ArabCham and Lord Edwin E. Hitti in producing this volume that has both academic and practical significance and will be helpful to researchers as well as practitioners.”

Ajay Shamdasani
Editor-in-Chief, Macau Business Magazine

“Although much has been said and written about current trends of Islamic Banking & Finance in recent years, even more so about Shariah and its compliance connotations. Sadly, little of it has been effectively evident, practical or functional for most.

As I reviewed this bluebook prior to its publication, I had nothing but appreciation and praise for its distinctive overall coherence and full perspective. The Author's perception of Islam, the Muslim World and the Arab culture in its pages not only conveys an analytically unique understanding but also an element of sensitivity to how Arabs and Muslims alike construe the notions of Capitalism.

This book is a true insight into the Basic Mechanics of Islamic Capitalism, an almanac of major elements shaping today's Islamic financial methodologies. A truly well thought assessment of significant historical components at part in today's Islamic rationale.”

Wilma K. Bosse
Publisher & Editor-in-Chief, Who's Who International Magazine