Book Review: Hussein Kotby: Financial Engineering for Islamic Banks: The Option Approach, Reviewed by: Sami Al-Suwailem مراجعة علمية لكتاب: حسين كتبي: الهندسة المالية للبنوك الإسلامية: نهج الخيارات ، مراجعة: سامي السويلم

• Main Author: Sami Al-Suwailem
• Format: Report
• Language: unknown
• Subjects: sami
• Online Access: https://iei.kau.edu.sa/Files/121/Files/153895_IEI-VOL-08-07E-AlSuwailim.pdf

Financial Engineering refers to the use of risk management strategies to manipulate the shape of risk profiles one firm is facing (Kotby 1990, p. 107). Kotby is pioneer in introducing this topic to Islamic bankers and Muslim economists. Since the study was completed in a non Islamic environment (Japan), the author is credited for presenting (at least some of) principles of Islamic Economics. Such attempts will hopefully bridge the gap in awareness on the part of non Muslim economists and practitioners. The author should be also credited for drawing the attention of Muslim economists and bankers to this growing and constantly changing field. We have to admit that theory and practice of Islamic Economics are, in many aspects, not catching up with contemporary Economics and Finance.