UNDERSTANDING ISLAMIC MUTUAL FUND

This book is intended to cover Islamic mutual fund, the contracts, screening, and purification mechanisms. The aim of the author is to provide a strong foundation for Islamic mutual fund in the greatest possible clarity of exposition and academic rigour. The key to success in Islamic mutual fund is clear understanding of the theoretical and analytical background of the structures and application of this understanding in providing quantitative and qualitative basis for financial decision-making. This book has been written with this need in mind.
It is targeted closely to provide an appropriate balance between theory and the application of the structures, contracts, screening and purification mechanisms in providing an alternative investment vehicle to generate profit with purpose. Each section begins with a clear and easy-to-follow explanation of the theoretical foundation and techniques relevant to the each section. This is followed by carefully selected illustrations and examples that describe how to apply the theories and techniques to provide suitable understanding of the topic. These illustrations are arranged in order to build on the knowledge gained from the previous one.
Islamic mutual fund have grown considerably in the previous decade, accounting for about 15-20% of the mutual fund market in the last 15 years. The existing literature focuses mainly on the structures and contracts of Islamic mutual funds, but their pricing is mostly overlooked. This book scrutinizes various Islamic mutual fund instruments; reviews the existing structures and contracts; demonstrates Islamic mutual fund mechanisms; assesses the critical issues of different types of Islamic mutual fund; and examines the contracts, structures, screening, pricing mechanisms and reasoning behind the mechanisms applied in screening and purification of both funds and shares. It evaluates the origin of each procedure and fills the gaps in the literature by aiming to harmonize and standardize the various benchmarks for screening and pricing of Islamic mutual funds. The book will also review some successful Islamic mutual funds institutions.

Before you start let me throw this challenge
The Islamic Finance profession is dynamic field that has many attractive opportunities for those who are prepared to make the necessary sacrifices. The way to success is narrow. You may have to sacrifice the following:

• Comfort and entertainment
• Friends and relationships
• Fashion and passion
• Pleasure and sleep