Unlawful Gain and Legitimate Profit in Islamic Law:Riba, Gharar, and Islamic Banking PDF Download
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Author: Ahmad Ajaj
Publisher: Springer
ISBN: 9781853337215
Category : Law
Languages : en
Pages : 176
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Book Description
Author: Ahmad Ajaj
Publisher: Springer
ISBN: 9781853337215
Category : Law
Languages : en
Pages : 176
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Book Description
Author: Nabil A. Saleh
Publisher:
ISBN: 9780521322980
Category : Religion
Languages : en
Pages : 130
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Book Description
An interest-free banking system has recently been adopted by several countries to operate in parallel with the existing world banking system. This comprehensive guide to the newly re-asserted system, a subject of practical concern for all involved in international trade between Western and Muslim countries, sets on a new footing contemporary discussion of risk and profit in an Islamic context. Nabil Saleh examines two restrictive rules in Islamic law, reflected in the ban on taking interest and the rejection of aleatory contracts, which strongly conflict with the existing world banking system. The re-assertion of Islamic law in a coherent banking system is considered in the context of its international legal implications. The book is also a comparative study of the two rules in five schools of law, as all aspects are examined in the light of the teaching of the four Sunni schools which hold authority in the Arab states and in Pakistan and of the lbadi school of law peculiar to Oman.
Author:
Publisher:
ISBN: 9781853334146
Category : Banking law (Islamic law)
Languages : en
Pages : 160
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Book Description
Author: Mehran Tamadonfar
Publisher: Lexington Books
ISBN: 1498507573
Category : Law
Languages : en
Pages : 387
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Book Description
The current rise of Islamism throughout the Muslim world, Islamists’ demand for the establishment of Islamic states, and their destabilizing impact on regional and global orders have raised important questions about the origins of Islamism and the nature of an Islamic state. Beginning with the Iranian revolution of the late 1970s and the establishment of the Islamic Republic to today’s rise of ISIS to prominence, it has become increasingly apparent that Islamism is a major global force in the twenty-first century that demands acknowledgment and answers. As a highly-integrated belief system, the Islamic worldview rejects secularism and accounts for a prominent role for religion in the politics and laws of Muslim societies. Islam is primarily a legal framework that covers all aspects of Muslims’ individual and communal lives. In this sense, the Islamic state is a logical instrument for managing Muslim societies. Even moderate Muslims who genuinely, but not necessarily vociferously, challenge the extremists’ strategies are not dismissive of the political role of Islam and the viability of an Islamic state. However, sectarian and scholastic schisms within Islam that date back to the prophet’s demise do undermine any possibility of consensus about the legal, institutional, and policy parameters of the Islamic state. Within its Shi’a sectarian limitations, this book attempts to offer some answers to questions about the nature of the Islamic state. Nearly four decades of experience with the Islamic Republic of Iran offers us some insights into such a state’s accomplishments, potentials, and challenges. While the Islamic worldview offers a general framework for governance, this framework is in dire need of modification to be applicable to modern societies. As Iranians have learned, in the realm of practical politics, transcending the restrictive precepts of Islam is the most viable strategy for building a functional Islamic state. Indeed, Islam does provide both doctrinal and practical instruments for transcending these restrictions. This pursuit of pragmatism could potentially offer impressive strategies for governance as long as sectarian, scholastic, and autocratic proclivities of authorities do not derail the rights of the public and their demand for an orderly management of their societies.
Author: Jonathan Ercanbrack
Publisher: Cambridge University Press
ISBN: 1107061504
Category : Business & Economics
Languages : en
Pages : 425
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Book Description
This contextual analysis of Islamic financial law challenges our understanding of both Islamic law and global financial markets.
Author: Glenn Roberts
Publisher: Universal-Publishers
ISBN: 1581123485
Category : Law
Languages : en
Pages : 119
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Book Description
The delayed development of the Islamic world, in defiance of the formulaic approaches long favored by economists, suggests that the traditional Sharia and Islamic values and principles are at least partially responsible for the region s persistent backwardness. By analyzing the impact of the legal regime of the Sharia on Saudi Arabia during the Arab Oil Bust of the 1980s, this thesis concludes that Islamic social values and the Sharia s de facto role as an uncodified pre-emptive Arab common law implemented with high regard to precedent by ulama with extraordinary power of judicial review had the effect of accentuating the effects of the Oil Bust, making the theory of the Petrocurse a subset of a larger Cost of Being Muslim. On the other hand, the author concludes that not only is the Sharia not constrained by its nature to playing a deleterious economic role, but that it has broad commercial application, both domestically and internationally, and a new generation of more flexible Muslim economists, lawyers, and financial theorists have pointed the way toward a possible comprehensive modern adaptation of Islamic laws and principles.
Author:
Publisher: Environmental Law Institute
ISBN: 9781585760411
Category : Environmental policy
Languages : en
Pages : 274
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Book Description
Author: Abdul Karim Aldohni
Publisher: Routledge
ISBN: 1136703152
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
During the last ten years the Islamic banking sector has grown rapidly, at an international level, as well as in individual jurisdictions including the UK. Islamic finance differs quite substantially from conventional banking, using very different mechanisms, and operating according to a different theory as it is based on Islamic law. Yet at the same time it is always subject to the law of the particular financial market in which it operates. This book takes a much-needed and comprehensive look at the legal and regulatory aspects which affect Islamic finance law, and examines the current UK and international banking regulatory frameworks which impact on this sector. The book examines the historical genesis of Islamic banking, looking at how it has developed in Muslim countries before going on to consider the development of Islamic banking in the UK and the legal position of Islamic banks within English law. The book explores company, contract, and some elements of tax law and traces the impact it has had on the development of Islamic banking in the UK, before going on to argue that the current legal and regulatory framework which affects the Islamic banking sector has on certain occasions had an unintended adverse impact on Islamic banking in the UK. The book also provides an overview of the Malaysian experience in relation to some of the main legal and regulatory challenges in the context of Islamic banking and finance.
Author: Abdullah Saeed
Publisher: Routledge
ISBN: 131797414X
Category : Religion
Languages : en
Pages : 352
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Book Description
Reading the Qur’an in the Twenty-First Century considers the development of Qur’anic interpretation and highlights modern debates around new approaches to interpretation. It explores how Muslims from various theological, legal, socio-political and philosophical backgrounds think about the meaning and relevance of the Qur’an, and how their ideas apply in the contemporary world. The book: reflects on one of the most dominant approaches to interpretation in the pre-modern period, textualism, and the reaction to that in Muslim feminist readings of the Qur’an today. covers issues such as identifying the hierarchical nature of Qur’anic values, the criteria for the use of hadith in interpretation, fluidity of meaning and ways of ensuring a degree of stability in interpretation. examines key Qur'anic passages and compares pre-modern and modern interpretations to show the evolving nature of interpretation. Examples discussed include: the authority of men over women, the death of Jesus, shura and democracy, and riba and interest. Abdullah Saeed provides a practical guide for interpretation and presents the principal ideas of a contextualist approach, which situates the original message of the Qur’an in its wider social, political, cultural, economic and intellectual context. He advocates a more flexible method of interpretation that gives due recognition to earlier interpretations of the Qur’an while also being aware of changing conditions and the need to approach the Qur’an afresh today.
Author: Ndiva Kofele-Kale
Publisher: Routledge
ISBN: 1317027213
Category : Law
Languages : en
Pages : 460
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Book Description
Focusing on the problem of indigenous spoliation in developing countries, this work explores the controversial issue of spoliation by national officials of the wealth of the states of which they are custodians. Due to constraints of the state system and the lack of appropriate substantive municipal law, efforts to punish those responsible for the economic rape of entire nations and to recover spoliated funds have been frustrated and rendered insubstantial. Taking a multidisciplinary approach and on the basis of data generated from empirical, cross-national research, this study makes the case for indigenous spoliation as a violation of international law. Substantially revised and updated to take account of recent legal and political developments, the second edition will be a valuable resource for academics, practitioners, NGOs, and policymakers.
