Islamic banking and finance in the European Union
Subtitle: a challenge
By: edited by M. Fahim Khan, Mario Porzio
Series: Studies in Islamic finance, accounting and governance
Publisher: Edward Elgar; Elgar Publishing, Incorporated, Edward
Published: 2010
Place of publication: Cheltenham, U.K; Northampton, Mass
Language: eng
Number of pages: 241
ISBN-13: 9781849800174; 9781849803410
Subjects: Banking law; Finance; Islam and state; Banking law (Islamic law); Banks and banking; Islam
Description: "This timely book examines the authorization of Shari'ah-compliant intermediaries as either credit institutions or as investment companies in the European Union." "The contributing authors explore the key topics of this area through differing yet parallel perspectives - for example, comparing economic and legal standpoints, looking at both European and national levels and considering both academic and technical approaches. The book discusses the common origin of Islamic and Western traditions in commercial and banking transactions, reviewing a period in which the Italian merchants and their organizations drove the rebirth of post-medieval society in trade and law. The editors investigate whether the Islamic banking and financial model complies with the European framework, spelling out the different experiences in single Member States (Germany, France, Italy, and the United Kingdom). Notwithstanding the obstacles to being authorized as domestic credit institutions, they conclude that the access of Islamic intermediaries is suitable and may have positive effects on European integration, as well as increasing the competition among the stand-still operators and evoking the ethical dimension of banking and finance. The book also highlights how Islamic banking would make the industry more inclusive." "This multidisciplinary book will appeal greatly to economics and legal scholars with an interest in European and international banking and financial law, as well as postgraduate students in international law and banking law. Practitioners and regulators will also find this book an invaluable resource."--BOOK JACKET.
Notes: Includes bibliographical references and index.