"This book is an important contribution, particularly for those who wish to know more about modern Islamic finance. It equips the reader with sound Islamic juristic methodologies in order to appreciate the workings of Islamic commercial law and also helps to contextualise the products and regulatory framework for expanding markets such as Australia. The book is also significant when considering the proximity of Australia to countries like Indonesia and Malaysia and its trade with them. The book nonetheless focuses on Australian products and their regulatory challenges. This provides an insight into how to consider the practical side of Islamic finance in a given jurisdiction and, thus, combines theory and practice. The challenges are documented lucidly and can be used as a model for analysing other jurisdictions."
Faizal Manjoo, The Muslim World Book Review, 34:2, 2014
"It is indeed a most comprehensive, methodologically sound, well organised, lucid, comprehensively documented and analysed, and convincingly argued and concluded research. It systemically addressed all the research questions raised and very convincingly and successfully resolved them to logical conclusions. The study can convincingly claim to have made a breakthrough in the frontier of knowledge in the field of Islamic finance"
Professor R. I. Molla, Multimedia University, Malaysia
"Discussions of the topics throughout the book are logically coherent and presented in plain language. It is an insightful, well researched, logically organised and lucidly presented research work having overwhelming strengths and very limited weaknesses. I have no hesitation to say that this book may provide useful guidelines for dealing with the emerging issue of Islamic finance around the world.."
Dr. S. M. Solaiman, The University of Wollongong, Australia
"I have gone through for the most part of author’s present work and found that it was excellent. I must congratulate him for preparing a research work of such standard. It was due to his extreme commitment, sense of professionalism, and perseverance."
Professor A. B. Rafique Ahmad, Pro-VC, International Islamic University Chittagong, Bangladesh
"I read this book on Islamic finance with lots of interest. It is one of the finest pieces of writing, in terms of content, eyes to detail, referencing and scholarly analysis. It is often a challenge to simplify such a complex subject without loosing the necessary details. There are very few Islamic books that introduce all jurisdictions. This book filled in this gap through making an unbiased objective reading. The book have covered very valid governance issues such as the conflict of interest of the regulators (Shari`ah Board), the products resembling conventional loans and the reluctance of sharing the full risk. While Islamic Institutions may shy away from the author, his talent will be highly sought in academia and research circles."
Dr. Shahadat Chowdhury, School of Civil and Environmental Engineering, University of New South Wales, Sydney, Australia
This book appears to be the only major research monograph on Islamic finance in Australia. The historical, rational and critical methodology of this book follows the scientific research methodology of the great twentieth century philosopher of science Karl Popper. The clarity and logical rigour resulting from this approach is one of the major strengths of this work. Chapters 1-3 and 5 are of excellent quality and reflect Dr Ahmad's authoritative knowledge in the field of Islamic law. Chapters 6-11 reflect not only Dr Ahmad's expertise in Islamic financial law, evident in previous chapters but also his extensive practical experience in his advisory and consultancy work. The book raises many questions for future research, including, how to resolve the perceived divergence of financial practice from Islamic law and the development of a fully satisfactory theoretical framework for Islamic financial regulation.
International Journal of Islamic and Middle Eastern Finance & Management Vol. 3,3.
"The study is to be commended for its choice of subject matter as well as for the empirical focus on Australia. The book does a good job of bringing together some insight into the practices of IFSPs in Australia. Readers interested in broad coverage will find the material of some interest, and reasonably well presented throughout. Overall, the book engages with a very interesting topic and provides initial insights."
Journal of Islamic Accounting and Business Research Vol. 1,2.