IsDB institute releases new book on principles of Islamic finance

The Islamic Development Bank Institute (IsDBI) has announced the release of a new book titled Essentials of Islamic Finance, aimed at providing a comprehensive understanding of the principles and ethical foundations that underpin Islamic financial systems.

Authored by Dr. Sami Al-Suwailem, Acting Director General of IsDBI, the publication offers an in-depth exploration of Islamic finance and its relevance to addressing contemporary global economic challenges.

Originally developed as a teaching note in 2011, the work has since been expanded and significantly revised. The new English edition incorporates updated references, examples, and discussions reflecting recent global developments, including financial crises, post-pandemic inflation, and growing concerns over debt sustainability.

According to the institute, the book presents a systematic framework that integrates Sharīʿah principles with economic reasoning and practical applications. It focuses on core concepts such as the prohibition of ribā (usury), the importance of zakāh and charitable activities, the avoidance of gharar (excessive uncertainty or risk), and the close relationship between financial transactions and real economic activity.

By examining these principles, the book highlights Islamic finance as a moral and economic system designed to promote fairness, financial stability, and shared prosperity.

In the foreword, Prof. Bambang Susantono, a member of the IsDBI Board of Trustees and Professor of Urban and Regional Planning at Diponegoro University in Indonesia, described the publication as both a scholarly contribution and a practical guide linking Islamic legal principles with modern economic thinking.

He noted that the book presents the foundations of Islamic finance from a rigorous intellectual perspective while demonstrating the relevance of those principles to the global financial system.

Essentials of Islamic Finance is targeted at economists, finance professionals, policymakers, regulators, and researchers seeking a structured understanding of Islamic finance. The institute said the book is also accessible to readers interested in Sharīʿah-based economic systems, making it useful for academic study, policy discussions, and professional reference.

IsDBI said the publication aligns with its broader mandate to advance knowledge and build capacity in Islamic economics and finance while supporting the development of more inclusive, resilient, and ethical financial systems worldwide.