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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: 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: Mr.Mumtaz Hussain
Publisher: International Monetary Fund
ISBN: 1513565621
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.
Author: Patrick S. Nash
Publisher: Cambridge University Press
ISBN: 1108493912
Category : Law
Languages : en
Pages : 325
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Book Description
Based on author's thesis (doctoral - University of Bristol, 2017) issued under title: How should English law relate to Islam?
Author: M. Kabir Hassan
Publisher: Emerald Group Publishing
ISBN: 9781800716261
Category : Business & Economics
Languages : en
Pages : 372
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Book Description
The impact of COVID-19 has exposed major cracks in the global financial system and has severely undermined global financial stability. Never have the shortcomings of universal financialization - the dominant principle of the global financial system for the past thirty-odd years - been more obvious or more painful. Islamic finance provides ways forward: based on commercial and social modes of risk-sharing and financing, it offers radical structural solutions to the health, human and financial crises faced in this unprecedented time. In Towards a Post-Covid Global Financial System: Lessons in Social Responsibility from Islamic Finance, an international team of experts explore how COVID-19 has affected the most vulnerable parts of the global economy; how it has been met by Islamic banking and finance specifically; and how the principles of Islamic social finance could be used to have a fairer, more resilient Islamic finance system for all.
Author: Salim Al-Ali
Publisher: Springer
ISBN: 3030145360
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
Ṣukūk markets have grown significantly worldwide since their emergence— in Islamic jurisdictions as well as conventional jurisdictions including the US, the UK, Germany, China, France and Singapore. The practices of ṣukūk markets, however, have come under close scrutiny. The legal and regulatory risks arising from the existing general legal environment and their impact on those investing and trading in ṣukūk markets has not received adequate attention. The topic of ṣukūk has been subject to extensive research and academic discussion from different perspectives, but the existing literature has not adequately addressed the issues associated with these markets. This book examines the contemporary issues encountered in the foundation and operation of ṣukūk markets by providing an in-depth discussion of the issues facing ṣukūk markets from legal and regulatory perspectives and focusing attention on how soundness can be ensured in the wider context. These issues go to the heart of what the ṣukūk market is really about, as recent debate has recognised in ṣukūk the replication of conventional bonds in ways that are considered unsatisfactory from an Islamic law point of view.
Author: Christopher Hare
Publisher: Oxford University Press
ISBN: 0192596675
Category : Law
Languages : en
Pages : 483
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Book Description
Trade Finance provides a much-needed re-examination of the relevant legal principles and a study of the challenges posed to current legal structures by technological changes, financial innovation, and international regulation. Arising out of the papers presented at the symposium, Trade Finance for the 21st Century, this collection brings together the perspectives of scholars and practitioners from around the globe focusing on core themes, such as reform and the future role of the UCP, the impact of technology on letters of credit and other forms of trade finance, and the rise of alternative forms of financing. The book covers three key fields of trade finance, starting with the challenges to traditional trade financing by means of documentary credit. These include issues related to contractual enforceability, the use of "soft clauses", the doctrine of strict compliance, the fraud exception, the role of the correspondent bank, performance bonds, and conflict of laws problems. The second main area covered by the work is the technological issues and opportunities in trade finance, including electronic bills of exchange, blockchain, and electronically transferable records. The final part of the work considers alternative and complementary trade finance mechanisms such as open account trading, supply-chain financing, the bank payment obligation, and countertrade.
Author: Iza R. Hussin
Publisher: University of Chicago Press
ISBN: 022632348X
Category : Law
Languages : en
Pages : 360
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Book Description
In The Politics of Islamic Law, Iza Hussin compares India, Malaya, and Egypt during the British colonial period in order to trace the making and transformation of the contemporary category of ‘Islamic law.’ She demonstrates that not only is Islamic law not the shari’ah, its present institutional forms, substantive content, symbolic vocabulary, and relationship to state and society—in short, its politics—are built upon foundations laid during the colonial encounter. Drawing on extensive archival work in English, Arabic, and Malay—from court records to colonial and local papers to private letters and visual material—Hussin offers a view of politics in the colonial period as an iterative series of negotiations between local and colonial powers in multiple locations. She shows how this resulted in a paradox, centralizing Islamic law at the same time that it limited its reach to family and ritual matters, and produced a transformation in the Muslim state, providing the frame within which Islam is articulated today, setting the agenda for ongoing legislation and policy, and defining the limits of change. Combining a genealogy of law with a political analysis of its institutional dynamics, this book offers an up-close look at the ways in which global transformations are realized at the local level.
Author: Rajeswary Ampalavanar Brown
Publisher: Oxford University Press
ISBN: 0192874675
Category :
Languages : en
Pages : 577
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Book Description
In recent decades, the culture, society, politics, and economics of Bahrain have been transformed, driving its global ambitions while retaining to a degree the rule of law and cosmopolitanism. Islam and Capitalism in the Making of Modern Bahrain examines the transformation of Bahrain from the 1930s, from a regional trading port and then an important oil producer into the financial hub for the Gulf and into a global centre of Islamic finance. It focuses on the changes and tensions that transformation brought to Bahrain's political, legal, economic, religious, and social structures. In this book, Rajeswary Brown explores the rising force of youth populism driven by the persistence of poverty and unemployment, notably among rural Shi'ite communities and unemployed middle-class youth, as well as examining Bahrain's skillful reconciliation of the demands of Islamic faith, expressed in the Sharia, to the requirements of modern financial capitalism. In this, Bahrain's experience can be set against the modern history of much of the rest of the Middle East, most strikingly with respect to the position of Islamic charities, notably in Syria, comparisons of which are fully explored here.
Author: Shaheen Sardar Ali
Publisher: Cambridge University Press
ISBN: 1316727777
Category : Law
Languages : en
Pages : 329
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Book Description
The diversity of interpretation within Islamic legal traditions can be challenging for those working within this field of study. Using a distinctly contextual approach, this book addresses such challenges by combining theoretical perspectives on Islamic law with insight into how local understandings impact on the application of law in Muslim daily life. Engaging with topics as diverse as Islamic constitutionalism, Islamic finance, human rights and internet fatawa, Shaheen Sardar Ali provides an invaluable resource for scholars, students and practitioners alike by exploring exactly what constitutes Islamic law in the contemporary world. Useful examples, case studies, a glossary of terms and the author's personal reflections accompany traditional academic critique, and together offer the reader a unique and discerning discussion of Islamic law in practice.
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.
