An Introduction to Islamic Finance /
:
Although the principles of Shari'ah require banks and financial institutions to be structured on an interest-free basis, this does not mean that such institutions are charitable concerns. As long as a person advancing money expects to share in the profits earned (or losses incurred) by the other party, a stipulated proportion of profit is legitimate. The philosophy is enshrined in the traditional Islamic concepts of musharakah and mudarabah, along with their specialized modern variants murabahah, ijarah, salam, and istisna'. This invaluable guide to Islamic finance clearly delineates the all-important distinctions between Islamic practices and conventional procedures based on interest. Justice Usmani of Pakistan, who chairs several Shari'ah supervisory boards for Islamic banks, clearly explains the various modes of financing used by Islamic banks and non-banking financial institutions, emphasizing the necessary requirements for their acceptability from the Shari'ah standpoint and the correct method for their application. He deals masterfully with practical problems as they arise in the course of his presentation, and offers possible solutions in each instance.
:
1 online resource. :
Includes bibliographical references and index. :
9789004479913
9789041116192
Public Islam and the Common Good /
:
This book explores the public role of Islam in contemporary world politics. "Public Islam" refers to the diverse invocations and struggles over Islamic ideas and practices that increasingly influence the politics and social life of large parts of the globe. The contributors to this volume show how public Islam articulates competing notions and practices of the common good and a way of envisioning alternative political and religious ideas and realities, reconfiguring established boundaries of civil and social life. Drawing on examples from the late Ottoman Empire, Africa, South Asia, Iran, and the Arab Middle East, this volume facilitates understanding the multiple ways in which the public sphere, a key concept in social thought, can be made transculturally feasible by encompassing the evolution of non-Western societies in which religion plays a vital role.
:
1 online resource. :
Includes bibliographical references and index. :
9789047402824
9789004136212