Record:   Prev Next
Author El-Gamal, Mahmoud A., 1963- author
Title Islamic finance : law, economics, and practice / Mahmoud A. El-Gamal
Imprint Cambridge : Cambridge University Press, 2006
book jacket
Descript 1 online resource (xvii, 221 pages) : digital, PDF file(s)
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
Note Title from publisher's bibliographic system (viewed on 05 Oct 2015)
Jurisprudence and arbitrage -- Two major prohibitions : Riba and Gharar -- Sale-based Islamic finance -- Derivative-like sales : salam, istisna', and 'urbun -- Leasing, securitization, and Sukuk -- Partnerships and equity investment -- Islamic financial institutions -- Governance and regulatory solutions in mutuality -- Beyond Shari'a arbitrage
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 mainly as a form of rent-seeking legal-arbitrage. In every aspect of finance - from personal loans to investment banking, and from market structure to corporate governance - Islamic finance aims to replicate in Islamic forms the substantive functions of contemporary financial instruments, markets, and institutions. By attempting to replicate the substance of contemporary financial practice using pre-modern contract forms, Islamic finance has arguably failed to serve the objectives of Islamic law. This book proposes refocusing Islamic finance on substance rather than form. This approach would entail abandoning the paradigm of 'Islamization' of every financial practice. It would also entail reorienting the brand-name of Islamic finance to emphasize issues of community banking, micro-finance, and socially responsible investment
TAEBDC; 2009
Link Print version: 9780521864145
Subject Banking law (Islamic law)
Business enterprises -- Finance -- Law and legislation -- Islamic countries
Securities -- Islamic countries
Finance -- Religious aspects -- Islam
Economics -- Religious aspects -- Islam
Record:   Prev Next