Article

Islamic Finance

Clement M. Henry and Jennifer E. Lamm

in Islamic Studies

ISBN: 9780195390155
Published online December 2009 | | DOI: http://dx.doi.org/10.1093/obo/9780195390155-0026
Islamic Finance

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The term “Islamic finance” generally refers to a corpus of theoretical economics and the practice of banking according to the principles of Shariʿa, or Islamic law. It is often viewed as the theoretical response to the challenge posed by Western capitalism and Marxism. Its emergence in the early 1970s coincided with the development of Political Islam, although, at the time of its formation (and certainly today), supporters of Islamic finance were decidedly nonpolitical and resistant to any association with politics.

Article.  8537 words. 

Subjects: Islam

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