Islamic Law and Finance

Anver M. Emon

in The Oxford Handbook of Islamic Law

, pages 842-860
Published in print November 2018 | ISBN: 9780199679010
Published online February 2017 | e-ISBN: 9780191758331 | DOI:

Series: Oxford Handbooks in Law

Islamic Law and Finance

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  • Jurisprudence and Philosophy of Law
  • Financial Law


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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 twentieth 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.  7808 words. 

Subjects: Jurisprudence and Philosophy of Law ; Financial Law

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