Islamic law and finance : religion, risk, and return
Author(s)
Bibliographic Information
Islamic law and finance : religion, risk, and return
(Arab and Islamic laws series / series general editor, Mark S. W. Hoyle, 16)
Kluwer Law International, c1998
- : hardcover
- : softcover
Available at / 10 libraries
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Graduate School of Asian and African Area Studies, Kyoto Universityグローバル専攻
:hardcoverCOE-WA||322.28||Vog||0003124700031247
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Library, Institute of Developing Economies, Japan External Trade Organization図
: hardcoverC/297/I613441167
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Note
Includes bibliographical references (p. 305-318) and index
Description and Table of Contents
- Volume
-
: hardcover ISBN 9789041105479
Description
This work describes the field of Islamic banking and finance as practised in the modern era. This unique form of commerce has grown dramatically over the past twenty years, and is coincident with expanding wealth in the Middle East and parts of Asia, and with a turning away from secular Western practices in those areas. It examines the cultural background of this development and its legal and religious underpinnings. These prohibit Muslims from transactions that involve interest (riba) and speculation (gharar), among others, rendering many Western forms of finance and investing unacceptable. The authors describe the financial arrangements that allow investors and capital users to transact business in Islamically-sanctioned ways. A number of major Western and Middle Eastern financial institutions have recognized Islamic banking as an important new field. These firms have established Islamic practices to serve this growing market, including mutual funds that - like `socially responsible' funds in the West - invest client monies in Islamically-approved ways.
Table of Contents
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.
- Volume
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: softcover ISBN 9789041106247
Description
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.
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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