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Book Review: Hussein Kotby: Financial Engineering for Islamic Banks: The Option Approach, Reviewed by: Sami Al-Suwailem مراجعة علمية لكتاب: حسين كتبي: الهندسة المالية للبنوك الإسلامية: نهج الخيارات ، مراجعة: سامي السويلم

Author

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  • Sami Al-Suwailem

    (Washington University, Saint Louis, Missouri. USA)

Abstract

Financial Engineering refers to the use of risk management strategies to manipulate the shape of risk profiles one firm is facing (Kotby 1990, p. 107). Kotby is pioneer in introducing this topic to Islamic bankers and Muslim economists. Since the study was completed in a non Islamic environment (Japan), the author is credited for presenting (at least some of) principles of Islamic Economics. Such attempts will hopefully bridge the gap in awareness on the part of non Muslim economists and practitioners. The author should be also credited for drawing the attention of Muslim economists and bankers to this growing and constantly changing field. We have to admit that theory and practice of Islamic Economics are, in many aspects, not catching up with contemporary Economics and Finance.

Suggested Citation

  • Sami Al-Suwailem, 1996. "Book Review: Hussein Kotby: Financial Engineering for Islamic Banks: The Option Approach, Reviewed by: Sami Al-Suwailem مراجعة علمية لكتاب: حسين كتبي: الهندسة المالية للبنوك الإسلامية: نهج الخيارات ، ," Book reviews and book reports published in the Journal of King Abdulaziz University: Islamic Economics. 431, King Abdulaziz University, Islamic Economics Institute..
    • Handle: RePEc:abd:jkaubr:431
    DOI: 10.4197/islec.8-1.4
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    References listed on IDEAS

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    1. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    2. Merton H. Miller, 1992. "Financial Innovation: Achievements And Prospects," Journal of Applied Corporate Finance, Morgan Stanley, vol. 4(4), pages 4-11, January.
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