The Law Of Riba In Islamic Banking
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The Law Of Riba In Islamic Banking
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Author : Hasan Gürak
language : en
Publisher: Taylor & Francis
Release Date : 2024-03-12
The Law Of Riba In Islamic Banking written by Hasan Gürak and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-12 with Business & Economics categories.
The issue of riba, that is, interest/the "excess" or "surplus" on loans is crucial for both Islamic and non-Islamic countries. Western economic systems use interest to distribute financial resources efficiently for investment and/or consumption, while Islamic economies pursue a completely different strategy for financing loans, which adheres to Islamic laws and prohibits the activities of conventional banking systems with regard to interest. This book argues that there is scope for new definitions and analysis based on alternative concepts which respect Islamic values and principles, yet pave the way for modification and debate. The book comprises of two parts. Theoretical issues are dealt with in the first section. The first two chapters examine conventional Islamic views on the prohibition of riba, while Chapters 3 and 4 contain unprecedented and alternative theoretical analysis based on concepts such as "earned" (halal-permitted-legal) vs. "unearned" (haram-impermissible-illegal) income and SUKUK, that is, Islamic interest-free bonds. The second part of the book tackles another unconventional aspect of Islamic finance, that is, the concept of NAS. The book considers whether the NAS-influenced anti-inflationary interest policy was a success or failure. Empirical data is evaluated in terms of bank incomes, inflation rate, interest rate, and the distribution of income. This book will be a useful guide for students, scholars, and researchers of Islamic banking and finance.
Islamic Banking And Interest
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Author : Abdullah Saeed
language : en
Publisher: BRILL
Release Date : 1996
Islamic Banking And Interest written by Abdullah Saeed and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
A critical study of the interpretation of "riba" in Islam, the attempts of Islamic banks to put the interpretation into practice, the problems associated with these attempts and an argument for rethinking the interpretation.
Interest In Islamic Economics
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Author : Abdulkader S. Thomas
language : en
Publisher: Psychology Press
Release Date : 2006
Interest In Islamic Economics written by Abdulkader S. Thomas and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Banking law (Islamic law). categories.
With Islamic banking gradually becoming a more influential factor in the West, an analysis of the concept of riba– a definition of which is not given in the Qur’an – is long overdue. This text presents readers with various interpretations of this Islamic economic concept – generally perceived as ‘interest’. Thomas provides a framework for understanding ribaby examining: linguistics classical judicial analysis the historical context modern economics. Including contributions from prominent international scholars, the book fills a gap in the existing literature and will be welcomed by academics and professionals with an interest in Islamic studies, economics and legal history.
Islamic Law And Finance
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Author : Frank E. Vogel
language : en
Publisher: BRILL
Release Date : 1998-01-01
Islamic Law And Finance written by Frank E. Vogel and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-01-01 with Business & Economics categories.
Mirroring the expansion of wealth in the Middle East and Asia and a surge in Islamic self-identity, Islamic banking practices have either become the law of the land or coexist and compete with Western practices in at least six countries. A growing number of institutions and mutual funds (akin to Western ''socially responsible'' funds) have established Islamic investment and other practices to cater to this burgeoning market. Because of its prevalence, practitioners in every banking-related area must familiarize themselves with current Islamic finance practices in order to do business with Muslim clients and to engage in cross-border financing. Injunctions from the "Qur'an and the sayings of Prophet Muhammed have generated a web of interrelated norms which prohibit Islamic financiers from engaging in transactions that involve interest "(riba) and speculation "(gharar). "Islamic Law and Finance describes the dynamic set of Islamically-sanctioned ways financiers can transacat business.
Islamic Banking And Interest
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Author : A. Saeed
language : en
Publisher: BRILL
Release Date : 1999-08-15
Islamic Banking And Interest written by A. Saeed and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-08-15 with Law categories.
This important book critically examines the traditional interpretation of riba (translated as usury of interest) and the attempts of modern Islamic banks to put that interpretation into practice. The first part of the book examines 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 marabaha. The book questions the legalistic approach to the interpretation of riba and argues for a moral understanding of the issue in the light of the authoritative texts of Islam and the lessons learnt from the Islamic banking experiment.
The Concept Of Riba And Islamic Banking
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Author : Imran Ahsan Khan Nyazee
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2016-12-22
The Concept Of Riba And Islamic Banking written by Imran Ahsan Khan Nyazee and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-22 with categories.
Riba (Usury), call it bank-interest if you like, is prohibited by the texts of the Qur'an and the Sunnah. This was the conclusion drawn unanimously by the Muslim jurists (fuqaha'); and it is also the decisive view of the vast majority of modern Muslim scholars. Despite this general agreement, a confusion persists in the minds of many, jurists and laymen alike, that even though some forms of interest are prohibited, the simple interest charged by banks may not be prohibited by Islamic law. What is the reason for such a doubt? Why do some uphold prohibition with conviction, while others do not? This book attempts to elaborate the foundations on this prohibition is based, and in doing so removes some of the persistent disagreements.The explanations provided are based upon the works of the earlierjurists so that the discussion is undertaken in a detached manner.
Unlawful Gain And Legitimate Profit In Islamic Law Riba Gharar And Islamic Banking
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Author : Ahmad Ajaj
language : en
Publisher: Springer
Release Date : 1992-09-21
Unlawful Gain And Legitimate Profit In Islamic Law Riba Gharar And Islamic Banking written by Ahmad Ajaj and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-09-21 with Law categories.
Unlawful Gain And Legitimate Profit In Islamic Law
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Author : Nabil A. Saleh
language : en
Publisher:
Release Date : 1986
Unlawful Gain And Legitimate Profit In Islamic Law written by Nabil A. Saleh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Religion categories.
An interest-free banking system has recently been adopted by several countries to operate in parallel with the existing world banking system. This comprehensive guide to the newly re-asserted system, a subject of practical concern for all involved in international trade between Western and Muslim countries, sets on a new footing contemporary discussion of risk and profit in an Islamic context. Nabil Saleh examines two restrictive rules in Islamic law, reflected in the ban on taking interest and the rejection of aleatory contracts, which strongly conflict with the existing world banking system. The re-assertion of Islamic law in a coherent banking system is considered in the context of its international legal implications. The book is also a comparative study of the two rules in five schools of law, as all aspects are examined in the light of the teaching of the four Sunni schools which hold authority in the Arab states and in Pakistan and of the lbadi school of law peculiar to Oman.
Islamic Finance
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Author : Hans Visser
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01
Islamic Finance written by Hans Visser and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
'Islamic Finance is a welcome critical contribution to the growing body of literature on Islamic economics, banking and finance. As one would expect from an eminent and respected scholar, Visser has provided the reader with much food for thought. This stimulating book raises some serious questions which need to be addressed and provides valuable source material for researchers and students of Islamic finance.'– Abul Hassan, The Muslim World Bank Review'Since its development, the study of Islamic finance has been enriched by the insights of Western scholars of banking and finance. Here, Hans Visser provides a comprehensive analysis of the principles of Islamic finance, the main instruments, and the operation of Islamic institutions and markets. This thoughtful and well written study confirms Professor Visser's place in the group of Western writers able to comprehend and evaluate the essence of Islamic finance, while reinforcing Edward Elgar's position as the leading Western publishing house in this field.'– Mervyn K. Lewis, University of South Australia and Academy of the Social Sciences in AustraliaHans Visser presents a fascinating study of both the foundations of Islamic finance and its recent developments. This highly topical book explores the products and practices of Islamic finance, specifically targeting the tensions that may arise between the ideology and the practices. The author describes the forms Islamic finance has taken, analyzes the problems that it faces, and confronts the practice of Islamic finance with the principles it is based upon. He presents a dispassionate discussion of the problems facing Islamic forms of finance, including the question of how to reconcile activities such as liquidity management, monetary policy and government finance with Islamic principles.Islamic finance is an especially momentous phenomenon, and this book will prove an essential read for students with an interest in money and banking, and particularly Islamic finance. It will also be highly influential for bankers and staff in financial institutions, as well as financial journalists, politicians and civil servants dealing with the financial industry.
Unlawful Gain And Legitimate Profit In Islamic Law
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Author : Nabil A. Saleh
language : en
Publisher:
Release Date : 1992
Unlawful Gain And Legitimate Profit In Islamic Law written by Nabil A. Saleh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Banking law (Islamic law) categories.