3 options
Islamic finance : law, economics, and practice / Mahmoud A. El-Gamal.
- Format:
- Book
- Author/Creator:
- El-Gamal, Mahmoud A., 1963- author.
- Language:
- English
- Subjects (All):
- Banking law (Islamic law).
- Business enterprises--Finance--Law and legislation--Islamic countries.
- Business enterprises.
- Securities--Islamic countries.
- Securities.
- Finance--Religious aspects--Islam.
- Finance.
- Economics--Religious aspects--Islam.
- Economics.
- Physical Description:
- 1 online resource (xvii, 221 pages) : digital, PDF file(s).
- Edition:
- 1st ed.
- Place of Publication:
- Cambridge : Cambridge University Press, 2006.
- Summary:
- 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.
- Contents:
- 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.
- Notes:
- Title from publisher's bibliographic system (viewed on 05 Oct 2015).
- Includes bibliographical references (p. 213-218) and index.
- ISBN:
- 1-107-16933-X
- 1-280-48011-4
- 0-511-22086-3
- 0-511-22146-0
- 0-511-21953-9
- 0-511-30901-5
- 0-511-75375-6
- 0-511-22021-9
- OCLC:
- 173610010
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.