"Topics in Islamic Finance" presents four topics: Islamic Financial Markets: Achievements, prospects, and challenges; Islamic Financial Engineering: An overview; Dilution Effect in Islamic Finance: The case of convertible sukuk; Zero Interest-Rate Policy and Islamic Financial Model Revisited. The first part aims to review the evolution of the IFMs in different parts of the world. It mainly focuses on the challenges and the issues surrounding the IFMs and Islamic financial products and services. The second presents an overview of the phenomenal growth of the Islamic financial services industry which entails the Islamic financial engineering to some kind of crossroads, lagging behind its conventional counterpart. The third emphasises the forms, the effects of capital dilution on current shareholders as well as the ways and techniques of compensating them. The primary purpose of the fourth part is to review the ZIR within both conventional and Islamic central banking, centering mainly on the specificities of the Islamic model.