Islamic Law and Finance: Religion, Risk, and Return

Islamic Law and Finance: Religion, Risk, and Return

by Frank Vogel, Frank E. Vogel
     
 

ISBN-10: 9041106243

ISBN-13: 9789041106247

Pub. Date: 01/01/1998

Publisher: Brill Academic Publishers, Inc.

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

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Overview

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 Muhammed 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 transacat business.

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Product Details

ISBN-13:
9789041106247
Publisher:
Brill Academic Publishers, Inc.
Publication date:
01/01/1998
Series:
Arab and Islamic Laws Series, #16
Edition description:
Student
Pages:
332
Product dimensions:
6.26(w) x 9.32(h) x 0.74(d)

Table of Contents

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.

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