This book provides a conceptual framework that can be used to understand why markets exist. Each type of financial market is described in this book, with a focus on the securities that are traded in that market and the participation by financial institutions. The discussion of financial services in this book is organized on the basis of type of service. This text is suitable for both undergraduate and graduate level courses in financial markets, financial institutions or both. To maximize students comprehensive level, the relevant questions and problems should be assigned, along with the special applications at the end of chapter. This text also contains the concepts and definitions of important terminologies from the view point of both conventional and Shari’ah.
