Islamic Finance: Law, Economics, and Practice

Islamic Finance: Law, Economics, and Practice

by Mahmoud A. El-Gamal
     
 

ISBN-10: 0521741262

ISBN-13: 9780521741262

Pub. Date: 11/24/2008

Publisher: Cambridge University Press

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 primarily today as a form of rent-seeking legal arbitrage. An alternative that emphasizes substance rather than form would serve religious and moral…  See more details below

Overview

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 primarily today as a form of rent-seeking legal arbitrage. An alternative that emphasizes substance rather than form would serve religious and moral objectives better, through mutual and similar financial practices.

Product Details

ISBN-13:
9780521741262
Publisher:
Cambridge University Press
Publication date:
11/24/2008
Edition description:
New Edition
Pages:
240
Product dimensions:
6.00(w) x 8.90(h) x 0.70(d)

Table of Contents

1Introduction1
2Jurisprudence and arbitrage26
3Two major prohibitions : Riba and Gharar46
4Sale-based Islamic finance64
5Derivative-like sales : Salam, Istisna', and 'Urbun81
6Leasing, securitization, and Sukuk97
7Partnerships and equity investment117
8Islamic financial institutions135
9Governance and regulatory solutions in mutuality162
10Beyond Shari'a arbitrage175

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