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Author: Ibrahim Warde
Publisher: Edinburgh University Press
ISBN: 0748696474
Category : Religion
Languages : en
Pages : 289
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Book Description
A second edition of Islamic Finance in the Global Economy, substantially revised and updated to take into account the recent developments in the field.
Author: Ibrahim Warde
Publisher: Edinburgh University Press
ISBN: 0748696474
Category : Religion
Languages : en
Pages : 289
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Book Description
A second edition of Islamic Finance in the Global Economy, substantially revised and updated to take into account the recent developments in the field.
Author: Ryan Calder
Publisher: Princeton University Press
ISBN: 0691258325
Category : Social Science
Languages : en
Pages : 376
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Book Description
How the booming Islamic finance industry became an ultramodern hybrid of religion and markets In just fifty years, Islamic finance has grown from a tiny experiment operated from a Volkswagen van to a thriving global industry worth more than the entire financial sector of India, South America, or Eastern Europe. You can now shop with an Islamic credit card, invest in Islamic bonds, and buy Islamic derivatives. But how has this spectacular growth been possible, given Islam’s strictures against interest? In The Paradox of Islamic Finance, Ryan Calder examines the Islamic finance boom, arguing that shariah scholars—experts in Islamic law who certify financial products as truly Islamic—have made the industry a profitable, if controversial, hybrid of religion and markets. Critics say Islamic finance merely reproduces conventional interest-based finance, with the shariah scholars’ blessing. From an economic perspective, they are right: the most popular Islamic products act like conventional interest-bearing ones, earning healthy profits for Islamic banks and global financial heavyweights like Deutsche Bank and Goldman Sachs. Yet as Calder shows by delving into the shariah scholars’ day-to-day work, what seem like high-tech work-arounds to outsiders carry deep and nuanced meaning to the scholars—and to the hundreds of millions of Muslims who respect their expertise. He argues that shariah scholars’ conception of Islamic finance is perfectly suited to the age of financialization and the global efflorescence of shariah-minded Islam.
Author: Ayesha Bhatti
Publisher: Routledge
ISBN: 1317064089
Category : Business & Economics
Languages : en
Pages : 191
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Book Description
Islamic finance’s phenomenal growth owes to the Shariah compliant nature of its financial instruments. Shariah forbids the charging of interest (Riba) and instead promulgates risk-sharing and trade-based modes of financing. The Islamic financial industry has been subject to both critique and admiration. Critics argue that Islamic instruments (bearing debt-based structures) differ from their conventional counterparts only in legal lexicon and not in economic impact. The admirers argue that such instruments, irrespective of wider economic implications, rigorously comply with ‘juristically sound’ Islamic principles. This book aims to reconcile the above dispute. It argues that the financial impact of instruments is a consequence of the way they are priced and structured. The similarity in pricing and structures is an outcome not of the underlying Islamic financial modes but of the competitive environment in which Islamic instruments compete. Even risk-sharing and trade-based Islamic structures, if implemented in such an environment, would have a financial impact similar to that of conventional instruments. This book has a wider appeal for both academic and non-academic audiences. It can complement undergraduate and graduate courses as an additional reading on the intricacies of Islamic financial instruments and markets. For PhD students, it would help identify future research areas. To non-academics, it offers a deeper understanding regarding the working of the Islamic finance industry.
Author: Ryan Calder
Publisher: Princeton University Press
ISBN: 0691258309
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
How the booming Islamic finance industry became an ultramodern hybrid of religion and markets In just fifty years, Islamic finance has grown from a tiny experiment operated from a Volkswagen van to a thriving global industry worth more than the entire financial sector of India, South America, or Eastern Europe. You can now shop with an Islamic credit card, invest in Islamic bonds, and buy Islamic derivatives. But how has this spectacular growth been possible, given Islam’s strictures against interest? In The Paradox of Islamic Finance, Ryan Calder examines the Islamic finance boom, arguing that shariah scholars—experts in Islamic law who certify financial products as truly Islamic—have made the industry a profitable, if controversial, hybrid of religion and markets. Critics say Islamic finance merely reproduces conventional interest-based finance, with the shariah scholars’ blessing. From an economic perspective, they are right: the most popular Islamic products act like conventional interest-bearing ones, earning healthy profits for Islamic banks and global financial heavyweights like Deutsche Bank and Goldman Sachs. Yet as Calder shows by delving into the shariah scholars’ day-to-day work, what seem like high-tech work-arounds to outsiders carry deep and nuanced meaning to the scholars—and to the hundreds of millions of Muslims who respect their expertise. He argues that Shariah scholars’ conception of Islamic finance is perfectly suited to the age of financialization and the global efflorescence of shariah-minded Islam.
Author: Shahab Ahmed
Publisher: Princeton University Press
ISBN: 1400873584
Category : Social Science
Languages : en
Pages : 629
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Book Description
A bold new conceptualization of Islam that reflects its contradictions and rich diversity What is Islam? How do we grasp a human and historical phenomenon characterized by such variety and contradiction? What is "Islamic" about Islamic philosophy or Islamic art? Should we speak of Islam or of islams? Should we distinguish the Islamic (the religious) from the Islamicate (the cultural)? Or should we abandon "Islamic" altogether as an analytical term? In What Is Islam?, Shahab Ahmed presents a bold new conceptualization of Islam that challenges dominant understandings grounded in the categories of "religion" and "culture" or those that privilege law and scripture. He argues that these modes of thinking obstruct us from understanding Islam, distorting it, diminishing it, and rendering it incoherent. What Is Islam? formulates a new conceptual language for analyzing Islam. It presents a new paradigm of how Muslims have historically understood divine revelation—one that enables us to understand how and why Muslims through history have embraced values such as exploration, ambiguity, aestheticization, polyvalence, and relativism, as well as practices such as figural art, music, and even wine drinking as Islamic. It also puts forward a new understanding of the historical constitution of Islamic law and its relationship to philosophical ethics and political theory. A book that is certain to provoke debate and significantly alter our understanding of Islam, What Is Islam? reveals how Muslims have historically conceived of and lived with Islam as norms and truths that are at once contradictory yet coherent.
Author: Muhammad Baqir As-Sadr
Publisher: Simon and Schuster
ISBN: 1780746865
Category : Law
Languages : en
Pages : 172
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Book Description
This is an English translation of one of the most famous texts by the influential and charismatic Islamic activist, as-Sadr, who was executed by Saddam Hussein in Iraq in 1980. As-Sadr's books have made him one of the most celebrated Arab Muslim intellectuals of modern times. This text is used throughout the Sunni and Shi'a world by students of Islamic jurisprudence because of its succinctness and intellectual vigour. Mottahedeh's translation is accompanied by a detailed introduction which explains and places in context as-Sadr's views. Representing an attempt to relate a large body of Islamic law to scripture, this translation should be of great interest to students of scripture, hermeneutics and law.
Author: Mahmoud A. El-Gamal
Publisher: Cambridge University Press
ISBN: 1139457160
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
This book provides an overview of the practice of Islamic finance and the historical roots that define its modes of operation. The focus of the book is analytical and forward-looking. It shows that Islamic finance exists mainly as a form of rent-seeking legal-arbitrage. In every aspect of finance - from personal loans to investment banking, and from market structure to corporate governance - Islamic finance aims to replicate in Islamic forms the substantive functions of contemporary financial instruments, markets, and institutions. By attempting to replicate the substance of contemporary financial practice using pre-modern contract forms, Islamic finance has arguably failed to serve the objectives of Islamic law. This book proposes refocusing Islamic finance on substance rather than form. This approach would entail abandoning the paradigm of 'Islamization' of every financial practice. It would also entail reorienting the brand-name of Islamic finance to emphasize issues of community banking, micro-finance, and socially responsible investment.
Author: Saba Mahmood
Publisher: Princeton University Press
ISBN: 0691149801
Category : Religion
Languages : en
Pages : 267
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Book Description
An analysis of Islamist cultural politics through the ethnography of a thriving, grassroots women's piety movement in the mosques of Cairo, Egypt. Unlike those organized Islamist activities that seek to seize or transform the state, this is a moral reform movement whose orthodox practices are commonly viewed as inconsequential to Egypt's political landscape. The author's exposition of these practices challenges this assumption by showing how the ethical and the political are linked within the context of such movements.
Author: Roxanne L. Euben
Publisher: Princeton University Press
ISBN: 1400833809
Category : Social Science
Languages : en
Pages : 536
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Book Description
The most authoritative anthology of Islamist texts This anthology of key primary texts provides an unmatched introduction to Islamist political thought from the early twentieth century to the present, and serves as an invaluable guide through the storm of polemic, fear, and confusion that swirls around Islamism today. Roxanne Euben and Muhammad Qasim Zaman gather a broad selection of texts from influential Islamist thinkers and place these figures and their writings in their multifaceted political and historical contexts. The selections presented here in English translation include writings of Ayatollah Khomeini, Usama bin Laden, Muslim Brotherhood founder Hasan al-Banna, and Moroccan Islamist leader Nadia Yassine, as well as the Hamas charter, an interview with a Taliban commander, and the final testament of 9/11 hijacker Muhammad Ata. Illuminating the content and political appeal of Islamist thought, this anthology brings into sharp relief the commonalities in Islamist arguments about gender, democracy, and violence, but it also reveals significant political and theological disagreements among thinkers too often grouped together and dismissed as extremists or terrorists. No other anthology better illustrates the diversity of Islamist thought, the complexity of its intellectual and political contexts, or the variety of ways in which it relates to other intellectual and religious trends in the contemporary Muslim world.
Author: Eric Linn Ormsby
Publisher: Princeton University Press
ISBN: 1400856337
Category : Religion
Languages : en
Pages : 327
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Book Description
The first detailed study of Islamic theodicy, the book points out distinctively Islamic formulations and solutions of the problem of the best of all possible worlds" and shows where they coincide with Western versions, such as that of Leibniz. Originally published in 1984. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
