I would like to express my sincere gratitude to the University of Melbourne for awarding me a postgraduate scholarship, without which this study would not have been accomplished. The University also provided generous funds for a much needed trip to Egypt, Jordan, UK and Pakistan to collect data for the study. My sincere gratitude and deep appreciation also go to a very special friend, Ibrahim Latheef, without whose moral and material support this study would not have been possible.
For encouragement, inspiration and advice, special thanks are due to Professor Abdul Khaliq Kazi for his constructive criticisms and penetrating comments which were so important for the completion of the study. Sincere thanks are also due to the managers of the Faisal Islamic Bank of Egypt, the International Islamic Bank for Investment and Development, the Banque Misr (Islamic Branches), the Jordan Islamic Bank, the Nasser Social Bank and the Egyptian Central Bank, as well as the officials of the Islamic Foundation (UK), the Department of Economics of the International Islamic University of Pakistan and the Institute of Policy Studies of Pakistan for their valuable guidance, time and data. I also wish to thank Husain Saeed, Ahmad Abdullah, Musa Siddiq and Muhammad Rasheed for their assistance in the data collection stage.
I would like to express my debt, appreciation and gratitude to my family, in particular my wife, Fathimath Rasheeda, and my son Isaam, without whose patience, support and encouragement this study would not have been completed.
Chapter 2 of this book was published with some changes in the American Journal of Islamic Social Sciences (Winter 1995) as “The Moral Context of the Prohibition of Ribā in Islam Revisited” and Chapter 5 was published in the Journal of Arabic, Islamic & Middle Eastern Studies (1, 1993) as “Islamic Banking in Practice: A Critical Look at the Murabaha Financing Mechanism”. They are reproduced here with the kind permission of the two journals.