Pricing or benchmarking is a process of evaluating the performance of a financial company’s products and services or systems against other businesses considered to be at the top of their field by applying a measurement of “best in performance. ” This book includes contributions from the leading global experts in the field who tackle topics such as whether the Islamic financial system has been dependent on the LIBOR / EURIBOR in its benchmarking exercises to date and thus whether it will be affected negatively by the predicted non-existence of the LIBOR / EURIBOR from 2021 onwards. They also address the question of whether the Islamic financial system requires benchmarking of its products and services and consider the emergence of Sharī ͑ah-justified benchmarking in today’s Islamic financial system. Additionally they look at how benchmarking formulas should be adapted to ensure the satisfaction of customers within the principles of Maqasid al-Sharī ͑ah. It takes a legal and institutional approach to the subject which readers will find particularly valuable as there are various forms of Islamic finance institutions that do not conform to established models in the finance industry. Furthermore there are emerging business models that will benefit from this line of investigation. This book offers a timely analysis of these issues and redresses the existing misconceptions and misinterpretations pertaining to benchmarking in an Islamic finance context and as such provides guidance and strategies for future directions. It will appeal to researchers of Islamic banking finance and insurance as well as practitioners particularly standard setting bodies regulators and policy makers. | Benchmarking Islamic Finance A Framework for Evaluating Financial Products and Services