Description |
170 pages |
Series |
Studies in Islamic law and society, 1384-1130 ; v. 2 |
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Studies in Islamic law and society. 1384-1130 ; v. 2
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Contents |
I. Development of Islamic Banks -- II. Riba in the Qur'an, Sunna and Fiqh -- III. Interpretation of Riba in the Modern Period -- IV. Profit and Loss Sharing: Mudaraba and Musharaka -- V. Murabaha Financing Mechanism -- VI. Deposits and Depositors -- VII. Religious Supervisory Boards and Islamic Banking -- VIII. Islamicity of Islamic Banking: Riba and Ijtihad |
Summary |
This important book critically examines the traditional interpretation of riba (translated as usury or interest) and the attempts of modern Islamic banks to put that interpretation into practice. The first part of the book discusses the prohibition and interpretation of riba in Islam, as well as the controversies surrounding it. The second part examines the alternatives to interest-based financing utilised in Islamic banking and the problems associated with such alternatives with particular focus on mudaraba, musharaka and murabaha. The book questions the legalistic approach to the interpretation of riba and argues for a moral understanding of the issue in light of the authoritative texts of Islam and the lessons learnt from the Islamic banking experiment |
Bibliography |
Includes bibliographical references (pages 153-164) and index |
Notes |
English |
Subject |
Murābaḥah.
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Banking law (Islamic law)
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Interest (Islamic law)
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Banks and banking -- Religious aspects -- Islam.
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LC no. |
96005111 |
ISBN |
9004105654 (cloth) (alkaline paper) |
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