| Description |
xix, 281 pages ; 25 cm |
| Series |
Brill's Arab and Islamic laws series, 1871-2894 ; volume 11 |
|
Brill's Arab and Islamic laws series ; v. 11
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| Contents |
Introduction -- An overview of Shari'ah -- The form versus substance debate and the roots of creative Shar♯±'ah compliance in Islamic finance : why reinvent the wheel? -- Tawarruq as a case study of creative Shari'ah compliance -- Standardisation of fatw♯ѓs to reduce creative Shari'ah compliance -- The impact of Shari'ah governance practises on Shari'ah compliance in contemporary Islamic finance -- Public mechanisms to remedy creative Shari'ah compliance -- Private mechanisms to remedy Shari'ahcompliance -- Conclusion |
| Summary |
Ahmad Alkhamees defines Creative Shari'ah compliance as compliance with the letter but not the objectives of Shari'ah. In recent years, Islamic finance industry practises have come under scrutiny, with strong critiques levelled against many institutions that claim to provide Shari'ah-compliant products and services, which in fact undermine the spirit and the objectives of Shari'ah This book significantly contributes to the sphere of Islamic finance in three main ways. First, it critically appraises justifications of creative Shari'ah compliance practises. Second, it examines how Shari'ah supervisory board (SSB) governance practises, and the inconsistent fatwas issued by SSBs, contribute to the issue of creative Shari'ah compliance. Most importantly, it suggests regulatory mechanisms which regulators can employ in Islamic countries such as Saudi Arabia and in secular countries such as the United Kingdom to deal with the issue of creative Shari'ah compliance |
| Bibliography |
Includes bibliographical references and index |
| Subject |
Banking law (Islamic law)
|
|
Finance (Islamic law)
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Finance -- Religious aspects -- Islam.
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| LC no. |
2017015874 |
| ISBN |
9789004344396 (hardcover ;) (alkaline paper) |
|
900434439X (hardcover ;) (alkaline paper) |
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