This specialised textbook aims to provide a comprehensive coverage of the islamic financial system (ifs), ranging from its theoretical and conceptual framework to the practical aspect. The third edition of the textbook serves as a vital reference for academics, students and practitioners in the field through: • Revised and updated contents with the latest data, literature, trends, case studies, international practices, regulations, governance and future directions of the industry. • Additional contents to reflect the industry’s latest development: o progression of the industry into value-based intermediation and sustainability o integration of the Islamic social finance sector within the mainstream Islamic finance industry o increased leverage on financial technology (fintech) within Islamic financial institutions (IFIs) operations. • Enhanced chapters with newly added Multiple-choice Questions (MCQs) and revised ‘Review Questions and Problems’ provided at the end of each chapter. Answers for the MCQs are also provided at the end of the book. • Easily understood and clear language with improved visual materials (infographics, illustrations and tables).