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 c…
This book examines the intersection between contemporary International Commercial Arbitration and Shariʿa law in order to determine possible tensions that may arise between the two systems. It develops evidentiary and procedural rules under Shariʿa, as well as examining the consequences of stipulating qualifications of arbitrators based on gender and/or religion. The author extensively analys…
Traditionally, academic reflections on Islamic economics and finance have relied on a misleading understanding of Maqasid Al-Shari’ah. Much of the current research on the subject dogmatically adheres to the teachings of classical Islamic philosophers and does not appeal to practitioners of economics and finance who are looking for guidance on practical application rather than academic verbosi…
The diversity of interpretation within Islamic legal traditions can be challenging for those working within this field of study. Using a distinctly contextual approach, this book addresses such challenges by combining theoretical perspectives on Islamic law with insight into how local understandings impact on the application of law in Muslim daily life. Engaging with topics as diverse as Islami…
This book provides a detailed analysis of Islamic juristic writings on the topic of rape and argues that classical Islamic jurisprudence contained nuanced, substantially divergent doctrines of sexual violation as a punishable crime. The work centers on legal discourses of the first six centuries of Islam, the period during which these discourses reached their classical forms, and chronicles the…
This book offers an alternative framework for macroeconomic policy in Malaysia, derived from the universal principles of social justice espoused in the objectives of the Shariah. It attempts to holistically analyze issues related to public finance, which has been criticized for lack of transparency and justice in wealth distribution. This book explores these criticisms and discusses the princip…