Islamic Finance: Law and Practice

by Craig Nethercott (Editor), David Eisenberg (Editor)

Overview

This book is the most comprehensive and authoritative practical guide to financial transactions under Islamic law. Global interest in Shari'a-compliant financial practices continues to increase, but Islamic financial products can often be hard to understand, not least because they often cut across rather than strictly align with more conventional financial products. This book provides the necessary explanation by explaining the theoretical underpinnings of Islamic finance as a whole before going on to examine the major individual transaction structures in detail. The first part of the book informs the reader about the general background to Islamic Finance and the relevant aspects (and sources) of Islamic law. It also considers the role of Shari'a supervisory boards, Islamic financial institutions and accounting approaches. The second part of the book concentrates on Islamic financial law in practice by focusing on individual concepts and techniques. This section explains the basic requirements for Islamic finance contracts both in terms of the underlying asset types and also both the applicability and acceptability of the underlying asset. Arrangements discussed include Mudaraba (trustee finance), Musharaka (partnership or joint venture), Murabaha (sale of goods), and Sukuk (participation securities: coupons etc). Takaful (insurance) is also examined in detail. A new chapter has also been added to this second part of the book detailing the principles of Islamic investment funds and commonly applied structures.

Product Details

ISBN-13:	9780191038334
Publisher:	OUP Oxford
Publication date:	03/12/2020
Sold by:	Barnes & Noble
Format:	eBook
Pages:	496
File size:	6 MB

About the Author

Craig Nethercott is a Partner in the Finance group and is Co-chair of the global Islamic Finance Practice at Latham & Watkins LLP. The late David Eisenberg was Partner at White & Case LLP.

Table of Contents

• Part I - Introduction
• 1: Ibrahim Warde: Status of the Global Islamic Finance Industry
• 2: David Eisenberg: Sources and Principles of Islamic Law in Relation to Finance
• 3: Andrew Henderson and Ben Moylan: Islamic Financial Institutions
• 4: Ken Eglinton: Accounting and Taxation Approaches
• 5: Andrew White: Dispute Resolution
• 6: Barry Rider: Corporate Governance for Institutions Offering Islamic Financial Services
• Part II - Islamic Law and Contracts In Practice
• 7: Julian Johansen and Atif Hanif: Mudaraba and Musharaka
• 8: Craig Nethercott: Murabaha and Tawaruq
• 9: David Eisenberg: Derivatives in Islamic Finance
• 10: Craig Nethercott: Istisna and Ijara
• 11: Julian Johansen, Atif Hanif, and Edana Richardson: Sukuk
• 12: Peter Hodgins: Takaful
• 13: Zeeshan Ahmedani and Safdar Alam: Islamic Investment Funds
• 14: Craig Nethercott and David Eisenberg: Appendix: Guide to Further Reading

Editorial Reviews

"The volume presents in a clear and convincing fashion the internal debates and developments from which Islamic Finance emerges as being as much indebted to a classical tradition of Islamic jurisprudence as to identity politics and the modern political and ideological constructs of the emerging modern Islamic nation-states."
—Peter Petkoff, Oxford Journal of Law and Religion

This book is one of the most detailed analyses of different aspects of Islamic finance from the legal and regulatory perspectives."
—Umar A. Oseni, European Journal of Law and Economics

"As yet however, there are apparently not that many specialist books on the subject in Western languages - hence the timeliness of this carefully researched book."
—Phillip Taylor MBE and Elizabeth Taylor, Richmond Green Chambers

From the Publisher