Islamic banking and finance : new perspectives on profit sharing and risk Islamic Banking and Finance discusses Islamic financial theory and practice and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit sharing (as opposed to debt based) contracts are highlighted and the ways in which they can facilitate improved efficiency and stability of a financial system are explored 1. Introduction Munawar Iqbal and David T. Llewellyn 2. Decision making under uncertainty : an Islamic perspective Sami Ibrahim Al Suwailem ; comments Monzer Kahf Mohamed Ali Elgari 3. Incentive compatible profit sharing contracts : a theoretical treatment Habib Ahmed ; comments Said Al Hallaq 4. Evidence on agency contractual problems in Muarabah financing operations by Islamic banks Abdel Fattah A.A. Khalil Colin Rickwood and Victor Murinde ; comments Abdel hameed Bashir 5. Incentive compatible constraints for Islamic banking : some lessons from Bank Muamalat Adiwarman A. Karim ; comments Muhammad Nejatullah Siddiqi 6. How informal risk capital investors manage asymmetric information in profit loss sharing contracts Mohammad Abalkhail and John R. Presley ; comments Sultan Abou Ali 7. Choice between debt and equity contracts and asymmetrical information : some empirical evidence Kazem Sadr and Zamir Iqbal ; comments Abdul Azim Islahi 8. Islamic banking contracts as enforced in Iran Ali Yasseri ; comments Mohamed Ali Elgari 9. Islamic financial institutions of India : their nature problems and prospects M.I. Bagsiraj ; comments Fazlur Rahman Faridi Sule Ahmed Gusau 10. The interface between Islamic and conventional banking Rodney Wilson ; comments Muhammad Abdul Mannan Abdurrahman Lahlou 11. Alternative visions of international monetary reform M. Umer Chapra ; comments John G. Sessions