The politics of Islamic finance
By: edited by Clement M. Henry and Rodney Wilson.
Contributors: Henry, Clement M., 1937-; Wilson, Rodney.
Publisher: Edinburgh University Press
Published: 2004
Place of publication: Edinburgh
Language: eng
Number of pages: 307
Subjects: Finance -- Islamic countries; Capital -- Islamic countries; Banks and banking -- Islamic countries
Description: Can the contemporary Islamic finance movement be shown to meet the requirements of modern commerce? In the wake of the terrorist attacks on America the UN Security Council passed a resolution targeting transnational sources of terrorist funds. The United States and the International Monetary Fund are encouraging the governments of the Middle East to adopt policies of economic liberalism and a new type of capitalism, based on Islamic values and beliefs, is emerging. The aims of the book are:* to explore the political implications of the slow but steady accumulation of Islamic capital* to analyse the connections between Islamic finance and Islamic political movements in Middle Eastern and North African countries* to show that the commonly-perceived connection between Islamic finance and money laundering and terrorism is by no means the complete picture.Readers will learn to appreciate the various political contexts in which Islamic finance operates in the Middle East and North Africa and will acquire some understanding of its political as well as economic constraints. Hopefully possible misunderstandings about Islamic banking and finance will be corrected. The book is divided into two parts - part one is thematic and lays the ground for the country-specific case studies in part two (covering the Sudan, Kuwait, Jordan, Turkey, Tunisia and Egypt). The contributors include political scientists, economists and historians.
Notes: Includes bibliographical references and index.
Table of contents: title: Islamic banks: the rise of a new power alliance of weath and Shariʹa scholarship -- Monzar Kahf; title: Global politics, Islamic finance and Islamist politics before and after 11 September 2001 -- Ibrahim Warde; title: The Murabaha Syndrome in Islamic finance: laws, institutions and politics -- Tarik M. Yousef; title: Marketing commodities does not happen on commodity markets: the Egyptian Bursat Al-ʹUqud and oil futures markets -- Ellis Goldberg; title: Financial performances of Islamic versus conventional banks -- Clement M. Henry; title: Capital flight through Islamic managed funds -- Rodney Wilson; title: Interest politics: Islamic finance in the Sudan, 1977-2001 -- Endre Stiansen; title: The Kuwait Finance House and the Islamization of public life in Kuwait -- Kristin Smith; title: Jordan: a case study of the relationship between Islamic finance and the Islamist politics -- Mohammed Malley; title: The political economy of Islamic finance in Turkey: the role of Fethullah Gülen and Asya Finans -- Filiz Baskan; title: Aiyyu Bank Islami? The marginalization of Tunisia's BEST bank -- Robert P. Parks; title: The rise and decline of the Islamic Banking Model in Egypt -- Samer Soliman.