Islamic Finance, The Regulatory Challenge--------------------------------------------------Islamic Finance: The Regulatory Challenge...is therefore timely anda truly welcome addition to the growing literature on this subject...Icongratulate the two professors for their fine contribution to theevolving art and science of the regulation of Islamic finance. -Dr.Zeti Akhtar Aziz, Governor, Bank Negara Malaysia The World's financialregulators have taken too long to appreciate the importance of adaptingtheir regulatory frameworks to the needs of the fast growing Islamicfinance sector. Simon Archer and Rifaat Ahmed, the leaders in the field,have put together a fascinating collection of essays which show justwhat has to be done. It is a very timely book indeed. -Howard Davies,Director, London School of Economics The emergence of Islamic financeas a major force in the world financial system has focused attentionon regulatory issues. This book, edited by Professor Archer and ProfessorRifaat, two of the most respected figures in the field, is an importantpoint of reference for those who have to deal with these issues, whetherin regulatory authorities, or in the financial institutions themselves.-Professor William Blair QC, Grays Inn, London There is now greatinterest, both in financial and legal circles, in reliable and authoritativetexts on Islamic finance. I have no doubt that the availability ofIslamic Finance: The Regulatory Challenge will be warmly welcomed bythose who provide financial and legal services. The work will be ofgreat assistance to them. -The Rt Hon the Lord Woolf of Barnes, LawLord and former Lord Chief Justice of England &, Wales--------------------------------------------------Author Biography: Simon Archer was Professor of Financial Managementat the University of Surrey, UK, where he continues to supervise PhDstudents. Previously, he was Midland Bank Professor of Financial SectorAccounting at the University of Wales, Bangor. After his studies inPhilosophy, Politics and Economics at Oxford University, he qualifiedas a Chartered Accountant with Arthur Andersen in London and then movedto PriceWaterhouse in Paris, where he became Partner in charge of ManagementConsultancy Services in France and Scandinavia. His academic careerbegan after working as a practitioner, mainly in management consulting.Professor Archer's main research interests are in international accounting,accounting theory and accounting for banks, including the financialreporting, capital adequacy, risk management and corporate governanceof financial institutions. His recent work focuses on Islamic financialinstitutions. He is also co-author of the International Accountingand Financial Reporting Standards Guide as well as co-editor of theMiller European Accounting and Islamic Finance: Innovation and Growth.Rifaat Ahmed Abdel Karim is the Secretary-General of the Islamic FinancialServices Board (IFSB), a post he has held since the IFSB stated tooperate in 2003. Prior to his current post, he was the Secretary-Generalof the Accounting and Auditing Organization for Islamic Financial Institutions.He is a member of both the Standards Advisory Council of the internationalAccounting Standards Board, now serving his second three-year term,and the Consultative Advisory Group of the International Auditing andAssurance Standards Board. Professor Rifaat has been Visiting Professorat the University of Surrey (UK) since 1996, and is an Honorary Professorat Monash University in Australia. He is the co-author of Islamic Finance:Growth and Innovation and Business and Accounting Ethics is Islam.He is the first recipient of the Euromoney Outstanding Contributionto the Development of Islamic Finance Award, and other distinguishedawards.