I need 4 pages single space about the islamic Finance? Overview of Islamic Finance in the global?History of Islamic Finance?How it works?Countries that use Islamic Finance?Thedifferences between...

Islamic Finance
Introduction:
The Islamic finance industry is one of the fastest growing financial sectors worldwide, with
an estimated annual growth rate of 10-15%. Total global investment in Islamic financial
products is close to one trillion dollars, with some experts predicting investment will reach
two trillion dollars in the next five years. Islamic finance is not only a body of techniques
making it possible to organize banking without interest rates. In fact, it is a financial system
in itself, resting on an economic theory which in turn is based on the rules and principles of
charia (Causse, 2012, p. 13–24). The main ideas of the Islamic economic theory – la
lieutenancy of goods, the role of money, solidarity, social justice – stem from principles of
finance usually reduced to prohibitions (riba or interest, le gharar or uncertainty, le maysir or
speculation, money hoarding, speculation, unlawful activities). The IFS is developing very
widely, in spite of obstacles of all kinds slowing down the process.
An Islamic bank is a banking institutions collecting money and using it on the basis of the
Islamic charia, in order to found a society based on solidarity to carry out a fair sharing out of
wealth (El Idrissi, 2003, p. 25). It is thus a banking organization, with economic goals,
functioning under constraints of various kinds: religious, ethical, social and societal
(Benmansour, 1994, p. 239). Their mission confirms the idea that IB can truly be considered
as belonging to an alternative financial system (Charpa and Khan, 2000, p. 27).
Changing scenario of Islamic finance:
September 11, 2001 can be considered as a landmark in the development of the system. Gulf
countries nationals, who had deposited their money in foreign countries, fearing the freezing
of their assets, partially transferred them back. That shift of funds coincided with a significant
rise of the price of petrol6 and an increase in production. The combined effect of those events
was the accumulation of a huge amount of cash that triggered the development of Islamic
finance. It...