Skip to content
Open global navigation

Cambridge University Press

AcademicLocation selectorSearch toggleMain navigation toggle
Cart
Register Sign in Wishlist
Islamic Finance

Islamic Finance
Law, Economics, and Practice

$85.00

  • Date Published: July 2006
  • availability: In stock
  • format: Hardback
  • isbn: 9780521864145

$85.00
Hardback

Add to cart Add to wishlist

Other available formats:
Paperback, eBook


Looking for an examination copy?

If you are interested in the title for your course we can consider offering an examination copy. To register your interest please contact collegesales@cambridge.org providing details of the course you are teaching.

Description
Product filter button
Description
Contents
Resources
Courses
About the Authors
  • 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.

    • Accessible analytical exposition by internationally renowned author on Islamic financial practice and its historical, religious and legal roots
    • Focuses on economic substance rather than religious and historical forms
    • Studies religious injunctions as regulatory mechanisms, in the tradition of 'law and economics'
    Read more

    Reviews & endorsements

    "This book is by far one of the best that has been published on the topic of Islamic finance and banking." - Choice

    "This is a timely book providing an analytical critique of contemporary Islamic Finance by a leading Muslim scholar.... an important contribution." - International Journal of Middle East Studies

    See more reviews

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity

    ×

    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?

    ×

    Product details

    • Date Published: July 2006
    • format: Hardback
    • isbn: 9780521864145
    • length: 240 pages
    • dimensions: 234 x 159 x 23 mm
    • weight: 0.467kg
    • contains: 3 tables
    • availability: In stock
  • Table of Contents

    1. Introduction
    2. Jurisprudence and arbitrage
    3. Two major prohibitions: Riba and Gharar
    4. Sale-based Islamic finance
    5. Derivative-like sales: Salam, Istisma' and 'Urbun
    6. Leasing, securitization and Sukuk
    7. Partnerships and equity investment
    8. Islamic financial institutions
    9. Governance and regulatory solutions in mutuality
    10. Beyond Shari'a arbitrage
    Conclusion.

  • Author

    Mahmoud A. El-Gamal, Rice University, Houston
    Mahmoud A. El-Gamal is Professor of Economics and Statistics at Rice University, where he holds the endowed Chair in Islamic Economics, Finance, and Management. Professor El-Gamal has also served in the Middle East Department of the International Monetary Fund (1995–6), and was the first Scholar in Residence on Islamic Finance at the U.S. Department of the Treasury in 2004. He has published extensively in the areas of econometrics, finance, experimental economics, and Islamic law and finance.

Sign In

Please sign in to access your account

Cancel

Not already registered? Create an account now. ×

You are now leaving the Cambridge University Press website, your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Find content that relates to you

© Cambridge University Press 2014

Back to top

Are you sure you want to delete your account?

This cannot be undone.

Cancel Delete

Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

×
Please fill in the required fields in your feedback submission.
×