Islamic finance and law
Subtitle: theory and practice in a globalized world
By: Maha-Hanaan Balala
Series: International library of economics -- 5
Publisher: I.B. Tauris; Distributed in the United States and Canada exclusively by Palgrave Macmillan
Published: 2011
Place of publication: London; New York; New York
Language: eng
Number of pages: 211
ISBN-13: 9781848850767; 9781848852211
Subjects: Finance (Islamic law); Law and legislation; Finance
Description: "Islamic commercial and financial practice has not experienced the trial-and-error style of development that has characterized the development of the common law in the English-speaking world. Many of the principles, rules and practices prevalent in the Islamic law of contract, commerce, finance and property remain the same as those outlined by the Quran and the Prophet Muhammad, and expounded by scholars of jurisprudence as far back as the 13th century, despite the advancement in time and sophistication of commercial interaction. Hanaan Balala here demonstrates how, in order to bridge the gap between the principles outlined by the Quran and the Prophet in the 7th century and commercial practice in the 21st century, Islamic finance jurisdictions need to open themselves to learning from the experience (including the mistakes) of the English common law. "Islamic Finance and Law: Theory and Practice in a Globalized World" provides an analysis of the fundamental principles underlying the Islamic law of contract and commercial practice in comparison with their equivalents in common law in the English-speaking world. It seeks to draw parallels (and differences where appropriate) to facilitate the growth and development of Islamic commercial and financial law globally."--Bloomsbury publishing.
Notes: Includes bibliographical references (p. [203]-208) and index.