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Rethinking Islamic Finance

Rethinking Islamic Finance
Author: Ayesha Bhatti
Publisher: Routledge
Total Pages: 112
Release: 2018-12-12
Genre: Business & Economics
ISBN: 1317064089

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Islamic finance’s phenomenal growth owes to the Shariah compliant nature of its financial instruments. Shariah forbids the charging of interest (Riba) and instead promulgates risk-sharing and trade-based modes of financing. The Islamic financial industry has been subject to both critique and admiration. Critics argue that Islamic instruments (bearing debt-based structures) differ from their conventional counterparts only in legal lexicon and not in economic impact. The admirers argue that such instruments, irrespective of wider economic implications, rigorously comply with ‘juristically sound’ Islamic principles. This book aims to reconcile the above dispute. It argues that the financial impact of instruments is a consequence of the way they are priced and structured. The similarity in pricing and structures is an outcome not of the underlying Islamic financial modes but of the competitive environment in which Islamic instruments compete. Even risk-sharing and trade-based Islamic structures, if implemented in such an environment, would have a financial impact similar to that of conventional instruments. This book has a wider appeal for both academic and non-academic audiences. It can complement undergraduate and graduate courses as an additional reading on the intricacies of Islamic financial instruments and markets. For PhD students, it would help identify future research areas. To non-academics, it offers a deeper understanding regarding the working of the Islamic finance industry.


Intermediate Islamic Finance

Intermediate Islamic Finance
Author: Nabil Maghrebi
Publisher: John Wiley & Sons
Total Pages: 416
Release: 2016-01-06
Genre: Business & Economics
ISBN: 1118990749

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Explore Islamic finance at a deeper level Intermediate Islamic Finance: Theory and Practice fills the gap for students and professionals who are already familiar with the fundamentals of Islamic finance, but would like to gain an enhanced understanding of Islamic finance theories and practices. This comprehensive text provides you with coverage of global developments and describes the role of Islamic finance within the global finance community to guide you in your understanding of this important aspect of the international financial landscape. The book references advance concepts and specific problems in the practice of Islamic finance, provides suggested further readings for each chapter, offers details of advanced analysis, and presents key data in visual form via graphs, figures, and tables. Profound changes have taken place in the financial landscape over the past few decades, including major innovations in financial instruments and substantial changes in regulation. With global financial markets becoming increasingly important players in the industry, it is critical that today's financial professionals understand the essence and implications of key Islamic finance theories and practices. Build upon your fundamental understanding of Islamic finance Explore some areas of convergence and conflict between Islamic finance and conventional finance Strengthen the harmony between Islamic and conventional finance theories and their applications Prepare for a well-rounded career in finance by better understanding how Islamic finance principles apply Intermediate Islamic Finance: Theory and Practice is an essential text for graduate and post-graduate finance students, economists, researchers, bankers, financial regulators, policymakers, and members of the business community who want to develop a deeper understanding of Islamic finance theories and practices.


Rethinking Halal

Rethinking Halal
Author:
Publisher: BRILL
Total Pages: 317
Release: 2021-03-22
Genre: Social Science
ISBN: 9004459235

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Rethinking Halal reflects an anthropological revolution, that of the scientising, standardising, and normalising of social life through certification which is part of a process of ‘positivisation’ that directly affected Islam and Islamic normativity.


Rethinking Political Islam

Rethinking Political Islam
Author: Shadi Hamid
Publisher: Oxford University Press
Total Pages: 320
Release: 2017-07-17
Genre: Political Science
ISBN: 0190649224

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For years, scholars hypothesized about what Islamists might do if they ever came to power. Now, they have answers: confusing ones. In the Levant, ISIS established a government by brute force, implementing an extreme interpretation of Islamic law. On the opposite end of the spectrum, Tunisia's Ennahda Party governed in coalition with two secular parties, ratified a liberal constitution, and voluntarily stepped down from power. In Egypt, the Muslim Brotherhood, the world's oldest Islamist movement, won power through free elections only to be ousted by a military coup. The strikingly disparate results of Islamist movements have challenged conventional wisdom on political Islam, forcing experts and Islamists to rethink some of their most basic assumptions. In Rethinking Political Islam, two of the leading scholars on Islamism, Shadi Hamid and William McCants, have gathered a group of leading specialists in the field to explain how an array of Islamist movements across the Middle East and Asia have responded. Unlike ISIS and other jihadist groups that garner the most media attention, these movements have largely opted for gradual change. Their choices, however, have been reshaped by the revolutionary politics of the region. The groups depicted in the volume capture the contradictions, successes, and failures of Islamism, providing a fascinating window into a rapidly changing Middle East. It is the first book to systematically assess the evolution of mainstream Islamist groups since the Arab uprisings and the rise of ISIS, covering 12 country cases. In each instance, contributors address key questions, including: gradual versus revolutionary approaches to change; the use of tactical or situational violence; attitudes toward the nation-state; and how ideology, religion, and political variables interact. For the first time in book form, readers will also hear directly from Islamist activists and leaders themselves, as they offer their own perspectives on the future of their movements. Islamists will have the opportunity to challenge the assumptions and arguments of some of the leading scholars of Islamism, in the spirit of constructive dialogue. Rethinking Political Islam includes three of the most important country cases outside the Middle East-Indonesia, Malaysia, and Pakistan-allowing readers to consider a greater diversity of Islamist experiences. The book's contributors have immersed themselves in the world of political Islam and conducted original research in the field, resulting in rich accounts of what animates Islamist behavior.


Islamic Finance: Issues in Sukuk and Proposals for Reform

Islamic Finance: Issues in Sukuk and Proposals for Reform
Author: Mohammad Hashim Kamali
Publisher: Kube Publishing Ltd
Total Pages: 207
Release: 2014-12-22
Genre: Religion
ISBN: 0860375781

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This collection of essays brings together leading scholars and practitioners to discuss contemporary issues in the rapidly expanding sukuk market, and frankly debates the challenges facing it since the 2008 financial crisis. Highly recommended for practitioners, scholars, and students of Islamic finance. Professor Mohammad Hashim Kamali is the founding chairman and CEO of the International Institute of Advanced Islamic Studies (IAIS) in Malaysia, and is a leading authority in Islamic jurisprudence, Islamic finance, and human rights in Islamic law. A.K. Abdullah is an assistant research fellow at the IAIS.


Islamic Finance

Islamic Finance
Author: Hans Visser
Publisher: Edward Elgar Publishing
Total Pages: 253
Release: 2013-11-29
Genre: Business & Economics
ISBN: 178100174X

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¾Islamic Finance is essential reading for students of economics, finance and Islamic studies. Moreover, a detailed examination of both financial products and fiscal and monetary policies ensures that it will also appeal to banking staff, financial jour


The Stability of Islamic Finance

The Stability of Islamic Finance
Author: Hossein Askari
Publisher: John Wiley & Sons
Total Pages: 249
Release: 2011-11-09
Genre: Business & Economics
ISBN: 1118178939

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The Stability of Islamic Finance main focus is on the question of the sources of financial instability which seems inherent in the conventional system. As a core component of this focus, the book will consider episodes of turbulence and instability in a historical context recalling the occurrence of such events from mid-19th century to the present. It will present various theoretical explanations along with solutions and alternative financial systems that avoid instability provided by various scholars dating back to mid-19th century to present. The book then will present and discuss the architecture of an Islamic financial system and show that at its core, this system shares many characteristics of an stable financial system proposed by Western scholars throughout history to avoid the inherent instability of the present dominant system. Particular emphasis will be placed on the present financial crisis and its causes as well the financial crisis of the 1997 in Southeast Asia, Russia, and Latin America relating these episodes to the fundamental features of the dominant system. The debt crisis of the low income countries will also be part of this discussion. It will then argue that these crises could be mitigated under an Islamic system or any other system with similar architecture.


Rethinking Islam in the Contemporary World

Rethinking Islam in the Contemporary World
Author: Carl W. Ernst
Publisher:
Total Pages: 276
Release: 2004
Genre: Religion
ISBN:

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An introduction to Islam, today the faith of more than a billion people, set in the context of world history and of religious studies.


An Introduction to Islamic Finance

An Introduction to Islamic Finance
Author: Zamir Iqbal
Publisher: Wiley
Total Pages: 0
Release: 2011-08-09
Genre: Business & Economics
ISBN: 9780470828083

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The first book to offer comprehensive coverage of Islamic finance and banking and its applications to the rest of the world, now fully revised and updated The ongoing international financial crisis has reignited debate over the development of a risk-sharing financial system, such as that required in Shariah Law. An Introduction to Islamic Finance: Theory and Practice, Second Edition highlights the core principles of risk sharing in Islam, arguing that a risk-sharing financial system is exactly what we need to promote greater financial stability. Providing comprehensive coverage of the fundamental theory behind Islamic finance and banking, according to the core concepts of Shariah law, authors Zamir Iqbal and Abbas Mirakhor clearly explain the distinct features of an Islamic financial system and how it compares with traditional financial models. Addressing the myriad important developments that have taken place in recent years, this second edition looks to the future, addressing emerging issues sure to influence future developments in Islamic finance. Explores the unique features of an Islamic financial system, how they compare to more traditional financial systems, and how they could improve them Discusses all the most recent developments and emerging issues in Islamic finance Updated with the latest developments, trends, innovations, and statistics, this new edition features additional chapters on the financial crisis, globalization, non-bank financial institutions, and recent developments in Takaful (Islamic insurance) The first edition of An Introduction to Islamic Finance established the book as the market leader, and this newly revised and updated second edition incorporates the most recent developments in this booming financial sector, including financial stability, globalization, and non-banking financial institutions.


Men in Charge?

Men in Charge?
Author: Ziba Mir-Hosseini
Publisher: Simon and Schuster
Total Pages: 304
Release: 2014-12-10
Genre: Religion
ISBN: 1780747179

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Both Muslims and non-Muslims see women in most Muslim countries as suffering from social, economic, and political discrimination, treated by law and society as second-class citizens subject to male authority. This discrimination is attributed to Islam and Islamic law, and since the late 19th century there has been a mass of literature tackling this issue. Recently, exciting new feminist research has been challenging gender discrimination and male authority from within Islamic legal tradition: this book presents some important results from that research. The contributors all engage critically with two central juristic concepts; rooted in the Qur’an, they lie at the basis of this discrimination. One refers to a husband’s authority over his wife, his financial responsibility toward her, and his superior status and rights. The other is male family members’ right and duty of guardianship over female members (e.g., fathers over daughters when entering into marriage contracts) and the privileging of fathers over mothers in guardianship rights over their children. The contributors, brought together by the Musawah global movement for equality and justice in the Muslim family, include Omaima Abou-Bakr, Asma Lamrabet, Ayesha Chaudhry, Sa‘diyya Shaikh, Lynn Welchman, Marwa Sharefeldin, Lena Larsen and Amina Wadud.