Article

Islamic Law and Finance

Anver M. Emon

in The Oxford Handbook of Islamic Law

ISBN: 9780199679010
Published online February 2017 | e-ISBN: 9780191758331 | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199679010.013.20
Islamic Law and Finance

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This essay provides a historiographic introduction to the literature on Islamic finance. It situates the financial practice in terms of foundational principles; historical legal doctrines as reapplied in a contemporary financial context; and an institutional, regulatory framework developed over the course of the 20th century. The rise of Islamic finance occurs at the intersection of excessive surplus wealth from the 1970 oil boom and an increasingly deregulated global financial sector in the 1980s; as such, this essay conceptually situates the Islamic financial order within the broader turn to free-market ideologies and policies globally.

Keywords: Islamic finance; murabaha; mudaraba; sukuk; ijara; Islamic economics; market regulation

Article.  7801 words. 

Subjects: Jurisprudence and Philosophy of Law ; Financial Law

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