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In the last ten years, there has been an increased demand for finance products and services that conform to Sharia. Islamic financiers and Islamic banks, distinguish themselves from their secular counterparts by prohibiting the charging of interest and by sharing profits and losses with their clients. Fueled by high oil revenues, Islamic finance has grown from a niche business in the Middle East-to a booming global industry of over $300 billion. Conventional Western banks, investment banks, fund managers, and asset managers sense new opportunities and are beginning to offer Sharia-compliant investments in all sectors. How does Islamic financing work? What are the principles that define this system? How is it changing world business?

Michael J.T. McMillen is a partner of Fulbright and Jaworski LLP and works in the company's New York, Dubai, Riyadh, and London offices. He is recognized as an expert on Islamic Finance and is a recipient of the Euromoney award for Best Legal Advisor in Islamic Finance. Dr. McMillen has also received the Sheikh Mohammed Bin Rashid Al-Maktoum award for Best Legal Advisor in Islamic Finance in North America. He received his MD from Albert Einstein College of Medicine, his JD from the University of Wisconsin Law School, and his BBA from the University of Wisconsin-Madison and is currently the chair of the Islamic Law Forum, a division of the International Law Section of the American Bar Association. He also teaches Islamic Finance at the University of Pennsylvania Law School and the Wharton School of Business.