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Islamic banking

On this page you can access a range of articles, books and online resources providing an overview of the UK and global Islamic banking sector and news of recent developments.
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The Business & Industry Guides series is produced by the Library & Information Service for ICAEW members and ACA students.

We can compile tailored key players reports, mailing lists, market reports, benchmarking reports and industry news. Our enquiry team can also research other industry-specific information, such as taxation, for you. Call us on +44 (0)20 7920 8620 or email library@icaew.com.

eBooks

The ICAEW Library & Information Service provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Exclusive Mastering Islamic finance: a practical guide to sharia-compliant banking, investment and insurance
  • eBook
  • 2015
  • Faizal Karbani
  • FT Publishing International
A practical and accessible guide to Islamic finance that helps demystify the differences with conventional banking, enabling practitioners to develop Sharia compliant products for customers
Exclusive Introduction to Islamic finance, An: theory and practice
  • eBook
  • 2011
  • Zamir Iqbal, Abbas Mirakhor
  • John Wiley and Sons
Guide to the theory and features of Islamic financial systems.
Exclusive Understanding Islamic finance
  • eBook
  • 2007
  • Muhammad G. Ayub
  • John Wiley and Sons
Introduction to the essential issues and products involved in Islamic finance.
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You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

More eBooks

Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a range of articles and books on Islamic banking. Use the links below to see what we have available to request in our Library catalogue. Please contact us if you would like to borrow a book or request a copy of an article.
Banking with a different approach
  • Article
  • 2019
  • Peter Taylor-Whiffen
  • ICAEW
Sharia-compliant Gatehouse Bank's CFO shares why it is attracting so many customers and staff – of all faiths
Understanding Islamic financial services: theory and practice
  • Library book
  • 2017
  • K.Ullah
  • Kogan Page
This book explains the basic concepts, principles, contracts and financial products of Islamic finance, using case studies and examples to bring the text to life.
Foundations of shari'ah governance of Islamic banks
  • Library book
  • 2015
  • K.Ginena
  • John Wiley & Sons
This book aims to "detail the internal, external and institutional arrangements needed to promote responsible shari'ah governance, and critically analyse current laws, regulations and industry practices on the topic." It includes a sample shari'ah governance manual and shari'ah audit checklists.
Tolley's international taxation of corporate finance
  • Library book
  • 2014
  • J.Abrahamson
  • LexisNexis
This book "introduces and discusses international tax issues relating to corporate finance, group treasury and banking operations." An excerpt from chapter 17 on Islamic banking is available online.

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

The market

Islamic finance and markets: Global overview
  • Website
  • Lexology
Overview by HFW of the Islamic finance market, which has been experiencing significant growth globally. Covers new developments and challenges as well as opportunities for the Islamic finance market going forward. Published in October 2025.
Islamic finance 2025: Trends and developments
  • Website
  • Chambers & Partners

Practice guide from Chambers & Partners on the UK Islamic finance market, which has has undergone significant growth over the past decade. Areas discussed include Sukuk issuance, expansion of retail banking, integration of fintech, the development of the double Wa’ad structure in the Islamic repo market and strategic collaborations.

Islamic Banking Awards 2025
  • Website
  • The Banker
Results of The Banker magazine's annual Islamic Banking Awards. The 2025 awards celebrate innovation across individual sharia-compliant banking activities, while also recognising the best Islamic banks on a regional and global level.
Islamic Financial Services Industry Stability Report 2025
  • Website
  • IFSB
Annual industry report by the Islamic Financial Services Board (IFSB). Provides updates on trends, growth and developments in the Islamic financial services industry, including Islamic banking, Sukuk and Takaful.
Islamic Finance 2025-2026
  • Website
  • S&P Global
Annual S&P Global research report predicting trends that will shape the industry's growth, including the future prospects of Islamic banking and the global sukuk and takaful markets. Requires free registration to access.
Islamic finance development report 2024: From niche to norm
  • Website
  • LSEG

Annual report published by the London Stock Exchange Group and the Islamic Corporation for the Development of the Private Sector, providing country-level and global analysis of the Islamic finance industry. It includes performance across Islamic banking, sukuk, takaful and funds, and highlights key trends shaping the sector’s development.

Global trends in Islamic finance and the UK market 2022
  • Website
  • TheCityUK
TheCityUK's Islamic Finance Sectoral Advisory Group publishes a regular Islamic finance research report which summarises global trends in Islamic finance, with particular reference to how the market (including the sukuk and takaful markets) is developing in the UK, and the UK's position in the Islamic banking sector.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

Global statistics

Islamic Financial Services Board (IFSB)

The IFSB issues global standards for the Islamic finance industry, as well as conducting research and coordinating new industry initiatives. It currently provides quarterly Islamic banking data for 22 countries: Afghanistan, Bahrain, Bangladesh, Brunei, Egypt, Kazakhstan, Indonesia, Iran, Jordan, Kuwait, Lebanon, Malaysia, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, Sudan, Turkey, the United Arab Emirates and the United Kingdom.

Prudential and Structural Islamic Financial Indicators (PSIFIs) available include: 

  • Capital adequacy
  • Asset quality
  • Earnings
  • Leverage
  • Liquidity
  • Sensitivity to risks
  • Value of Shariah-compliant financing by economic activity
  • Value of returns by major type of Shariah-compliant contract
  • Number of Islamic banks
  • Number of employees

Organisations

Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
  • Website
  • AAOIFI
AAOIFI is a not-for-profit organisation which develops, prepares and issues Financial Accounting Standards (FASs) and Shari'a Standards (SSs) for the global Islamic finance industry.
Asian-Oceanian Standard-Setters Group (AOSSG)
  • Website
  • AOSSG
The Asian-Oceanian Standard-Setters Group is a grouping of the accounting standard-setters in the Asian-Oceanian region. The group has been formed to discuss issues and share experiences on the adoption of International Financial Reporting Standards (IFRS) and to contribute to the development of a high-quality set of global accounting standards.
General Council for Islamic Banks and Financial Institutions (CIBAFI)
  • Website
  • CIBAFI
An international membership organisation headquartered in Bahrain, CIBAFI aims to represent the global Islamic financial services industry. Its website provides industry news, research and position papers.
Institute of Islamic Banking and Insurance (IIBI)
  • Website
  • IIBI
A charitable organisation which seeks to build a wider understanding of the principles and methodologies within Islamic financial services. The IIBI website includes an extensive collection of useful resources, including an Islamic Finance Glossary and an archive of their magazine New Horizon, which was published from 1992-2019.
Islamic Financial Services Board (IFSB)
  • Website
  • IFSB
The IFSB issues global standards for the Islamic finance industry, including standards covering capital adequacy, corporate governance, risk management, takaful and retakaful(reinsurance) undertakings and accompanying FAQs for the standards.
Malaysia International Islamic Financial Centre (MIFC)
  • Website
  • MIFC
An initiative launched by Malaysia's financial and market regulators to promote Malaysia as a major hub for international Islamic finance. The centre provides a knowledge centre which includes a range of publications and guides on Islamic finance.
Malaysian Accounting Standards Board (MASB)
  • Website
  • MASB
The MASB is an independent authority which issues accounting and financial reporting standards in Malaysia.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

Reports, guides and surveys

Global Islamic Bankers' Survey 2025
  • Website
  • Aug 2025
  • CIBAFI
Annual survey from CIBAFI providing insights into the trends reshaping the Islamic banking sector, with a particular focus on the adoption of artificial intelligence and data analytics. Also includes the Islamic Banking Trust Index and the Islamic Banking Risk Dashboard.
Updated review of Islamic financial institutions’ financial statements (As of July 2022)
  • Website
  • Nov 2023
  • AOSSG
A second update to the Asian-Oceanian Standard-Setters Group (AOSSG)'s 2014 international study of financial statements of 132 Islamic financial institutions from 31 jurisdictions. The surveys identify the financial reporting standards that the institutions are legally required to comply with and the extent of compliance.
Islamic finance Out-Law guide
  • Website
  • Oct 2023
  • Pinsent Masons
A Pinsent Masons Islamic finance guide to how Islamic finance and Islamic banking is developing globally. It explains that each market has different approaches and there are no standard financing templates. The overarching principles of Islamic finance are also detailed.
UK-Turkey Islamic FinTech working group: case studies and insights
  • Website
  • Mar 2019
  • TheCityUK
A March 2019 report from TheCityUK, focusing on the opportunities for the UK and Turkey to cooperate on scaling Islamic finance through FinTech. The report includes a number of practical case studies and insights into FinTech for Islamic finance.
Reference Guide: Islamic Finance for Infrastructure PPP Projects
  • Website
  • Jan 2019
  • International Bank for Reconstruction and Development / The World Bank
A World Bank Group and Islamic Development Bank joint guide - provides a road map for using Islamic finance, aiming to share knowledge about how Islamic transactions work. It provides a complete set of Islamic finance template agreements which can be used in infrastructure projects.
Reporting Islamic financial transactions under IFRS: 2018 update
  • Website
  • Jan 2018
  • AOSSG
An update to AOSSG's 2010 Financial Reporting Issues relating to Islamic Finance report. Topics covered include: recognising a financing effect, profit-sharing contracts, Ijarah, Sukuk, Takaful, embedded derivatives, additional Shariah related disclosures and departures and exemptions from IFRS requirements.
Corporate Governance Practices in Islamic Banks 2017
  • Website
  • Dec 2017
  • World Bank Group/CIBAFI
A joint World Bank Group and CIBAFI publication analysing current corporate governance practices within the Islamic banking industry. Using information from 77 Islamic banks, the report focuses on six corporate governance themes: the Board of Directors; Board Committees; Internal Control and External Audit; Risk Governance; Shariah Governance and Transparency and Disclosure.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

Databases, portals and other resources

International Islamic Financial Market
  • Website
  • IIFM
A non-profit international institution supported by a number of central banks and government agencies with a mission to establish, develop and promote Islamic capital and the money market.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

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