Islamic Law and Finance

Religion, Risk, and Return
1. Auflage 1998
ISBN: 978-90-411-0624-7
Verlag: Wolters Kluwer

Buch, Englisch, Band 16, 348 Seiten, PB, Format (B × H): 159 mm x 237 mm, Gewicht: 499 g

Reihe: Arab and Islamic Laws Series

Mirroring the expansion of wealth in the Middle East and Asia and a surge in Islamic self-identity, Islamic banking practices have either become the law of the land or coexist and compete with Western practices in at least six countries.

A growing number of institutions and mutual funds (akin to Western socially responsible funds) have established Islamic investment and other practices to cater to this burgeoning market. Because of its prevalence, practitioners in every banking-related area must familiarize themselves with current Islamic finance practices in order to do business with Muslim clients and to engage in cross-border financing.

Injunctions from the Qur'an and the sayings of Prophet Muhammad have generated a web of interrelated norms which prohibit Islamic financiers from engaging in transactions that involve interest (riba) and speculation (gharar). Islamic Law and Finance describes the dynamic set of Islamically-sanctioned ways financiers can transact business.

Despite its emergence as one of the most significant and successful modern implementations of the Islamic legal system, many Muslims and non-Muslims still misunderstand Islamic finance. This book clarifies the misunderstandings, corrects and strengthens the system of concepts and terms by which insiders and outsiders understand Islamic practices, and addresses new innovations and common misunderstandings regarding sanctioned practices. No other English-language book treats this subject matter as thoroughly.

Zielgruppe

Research

Autoren/Hrsg.

Vogel, Frank

Hayes, Samuel

Fachgebiete

• Rechtswissenschaften Ausländisches Recht Islamisches Recht
• Geisteswissenschaften Islam & Islamische Studien Islamisches Recht

Inhaltsverzeichnis

1. Introduction. Part I: The Islamic Law of Finance. 2. Islamic Finance as the Application of Islamic Law. 3. Qur'an and Sunna on Contract and Commerce. 4. Islamic Laws of Usury, Risk, and Property. 5. Islamic Law of Contract. 6. The Law of Islamic Financial Institutions and Instruments. Part II: A Financial Analysis of Islamic Banking and Finance. 7. Islamic Financial Instruments: A Primer. 8. The Opportunity Rate of Capital and Islamic Capital Structure. 9. Derivatives in Islamic Finance. Part III: Case Studies: Islamic Financial Innovation. 10. Innovation in Islamic Financial Products. 11. Conclusion. Glossary. Bibliography. Index.

Über Autor(innen)

Frank E. Vogel, Director, Islamic Legal Studies Program, Harvard Law School, Cambridge, MA, USA.
Samuel L. Hayes III, Jacob H. Schiff Professor of Investment Banking, Harvard Business School, Cambridge, MA, USA.