The Politics of Islamic Finance

by Clement Henry (Editor), Rodney Wilson (Editor)

Overview

Can the contemporary Islamic finance movement be shown to meet the requirements of modern commerce? In the wake of the terrorist attacks on America the UN Security Council passed a resolution targeting transnational sources of terrorist funds. The United States and the International Monetary Fund are encouraging the governments of the Middle East to adopt policies of economic liberalism and a new type of capitalism, based on Islamic values and beliefs, is emerging.The aims of the book are:* to explore the political implications of the slow but steady accumulation of Islamic capital* to analyse the connections between Islamic finance and Islamic political movements in Middle Eastern and North African countries* to show that the commonly-perceived connection between Islamic finance and money laundering and terrorism is by no means the complete picture.Readers will learn to appreciate the various political contexts in which Islamic finance operates in the Middle East and North Africa and will acquire

Product Details

ISBN-13:	9780748618378
Publisher:	Edinburgh University Press
Publication date:	02/17/2004
Edition description:	New Edition
Pages:	312
Product dimensions:	6.14(w) x 9.21(h) x 1.00(d)
Age Range:	18 Years

About the Author

Clement Henry is Professor of Government at the University of Texas at Austin Rodney Wilson is Founder of the Islamic Finance Programme at the Durham University

Table of Contents

Table of Contents; Introduction; Clement Henry and Rodney Wilson; Part I - Thematic Essays; 1. Islamic Banks: The Rise of A New Power Alliance of Wealth and Shari'ah Scholarship; Monzer Kahf (formerly Islamic Development Bank, Jeddah, Saudi Arabia); 2. Global Politics, Islamic Finance and Islamist Politics Before and After September 11, 2001; Ibrahim Warde (Centre for Middle Eastern and Islamic Studies, Harvard); 3. The Murabaha Syndrome in Islamic Finance: Laws, Institutions and Politics; Tarik Yousef (Centre for Contemporary Arab Studies, Georgetown University); 4. Marketing Commodities Does Not Happen on Commodity Markets: The Egyptian Bursat al-'Uqud and Oil Futures Markets; Ellis Goldberg (Department of Political Science, University of Washington); 5. Financial Performances of Islamic versus Conventional Banks; Clement Henry (Department of Government, University of Texas at Austin); 6. Capital Flight through Islamic Managed Funds; Rodney Wilson (Institute for Middle Eastern and Islamic Studies, University of Durham); Part II - Case Studies; 7. Interest Politics: Islamic Finance in the Sudan 1977-2001; Endre Stiansen (Centre for Development and the Environment, University of Oslo); 8. The Kuwait Finance House and the Islamization of Public Life in Kuwait; Kristin Smith (Department of Government, Harvard); 9. Jordan: A Case Study of the Relationship between Islamic Finance and Islamist Politics; Mohammed Malley (Department of Government, University of Texas at Austin); 10. The Political Economy of Islamic Finance in Turkey: The Role of Fethullah Gulen and Asya Finans; Filiz Baskan (Faculty of Communications, Baskent University, Turkey); 11. Aiyyu Bank Islami? The Marginalization of Tunisia's BEST Bank; Robert Parks (Department of Government, University of Texas at Austin); 12. The Rise and Decline of the Islamic Banking Model in Egypt; Samir Soliman (Department of Social and Political Science, University of Lausanne, Switzerland); Conclusion; Clement Henry and Rodney Wilson.

What People are Saying About This

Robert Springborg

This timely book demonstrates how in-depth academic scholarship can make a signal contribution to a major topical issue of public policy.

— Robert Springborg, Director, London Middle East Institute

Alan Richards

They are the leading experts on the political economy of Islamic banking, and the book will attract the interest of all who wish to understand this phenomenon.

— Alan Richards, University of California, Santa Cruz

Editorial Reviews

This timely book demonstrates how in-depth academic scholarship can make a signal contribution to a major topical issue of public policy.

Robert Springborg

London Middle East Institute

They are the leading experts on the political economy of Islamic banking

Divided between a number of balanced thematic essays and a series of sound case studies, examining the experiences of Islamic banking in countries such as Sudan, Turkey, Kuwait and Egypt.

From the Publisher