Beyond Debt : Islamic Experiments in Global Finance / Daromir Rudnyckyj.

Format:

Book

Author/Creator:

Rudnyckyj, Daromir, author.

Language:

English

Subjects (All):

Finance, Public--Malaysia.

Finance, Public.

Finance, Public--Islamic countries.

Finance--Religious aspects--Islam.

Finance.

Bonds (Islamic law)--Islamic countries.

Bonds (Islamic law).

Debt equity conversion--Islamic countries.

Debt equity conversion.

Physical Description:

1 online resource (viii, 263 pages) : illustrations

Place of Publication:

Chicago : University of Chicago Press, [2018]

Language Note:

In English.

Summary:

Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change-yet there is little popular awareness of possible alternatives. Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank, seeks to make the country's capital Kuala Lumpur "the New York of the Muslim world"-the central node of global financial activity conducted in accordance with Islam. Rudnyckyj shows how Islamic financial experts have undertaken ambitious experiments to create more stable economies and stronger social solidarities by facilitating risk- and profit-sharing, enhanced entrepreneurial skills, and more collaborative economic action. Building on scholarship that reveals the impact of financial devices on human activity, he illustrates how Islamic finance is deployed to fashion subjects who are at once more pious Muslims and more ambitious entrepreneurs. In so doing, Rudnyckyj shows how experts seek to create a new "geoeconomics"-a global Islamic alternative to the conventional financial network centered on New York, London, and Tokyo. A groundbreaking analysis of a timely subject, Beyond Debt tells the captivating story of efforts to re-center international finance in an emergent Islamic global city and, ultimately, to challenge the very foundations of conventional finance.

Contents:

Frontmatter

Contents

Abbreviations

Introduction. Pious Finance in the Islamic Global City

Part I. Infrastructure

Part II. Operations

Part III. Problematization

Acknowledgments

Appendix A. Methodological Notes

Appendix B. Glossary of Islamic Financial Terms

Notes

References

Index

Notes:

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 22. Okt 2019)

ISBN:

9780226552118

022655211X

OCLC:

1049975071