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Islamic Financial Institutions and Islamic Finance Law

In recent years, Islamic business has grown in size and importance in the world financial markets, propelled by government and private wealth in Muslim countries. The UK has fashioned itself as a leading supporter of Islamic finance, evinced in its position as an "emerging global 'hub' for Islamic finance" (Islamic Finance in the UK: Regulation and Challenges (Financial Services Authority, 2007) This work examines how laws and regulations in the UK and abroad are applied to Shari'a products and services. It offers cutting-edge guidance from a leading practitioner: it includes explanation of terms and definitions and looks the legal nature of the Shari'a, in addition to a crucial review of how Islamic financial business is regulated and its practical application within the UK.The report also covers the following key areas:* An introduction to the basics of Islamic law unfamiliar to most UK practitioners - e.g. what is Islamic law, what are the key principles, what are the products on offer* Islamic financial institutions - e.g. different types and requirements* Discussion of the legal nature of the Shari'a - the basis, concepts and context of applying Shari'a law* How is Islamic financial business regulated in the UK - e.g. how does it work with the Financial Services and Markets Act 2000 (this act being fundamental to how the financial services industry is structured and operates), with the Financial Services Authority, how are Islamic mortgages regulated* Best practice guidelines - e.g. key governance principles, Shari'a reviews and audits* International operation - what are the regulatory models, how to incorporate best practice guidelines, oversight of Shari'a supervisory boards* Practical application of Shari'a principles to areas such as guarantees, set-off, assignment of debt* Glossary of terms.

been introduced or amended to take Islamic finance into account . With the
United Kingdom positioning itself for the anticipated worldwide growth in Islamic
finance , it is increasingly important to understand how secular English laws and
 ...

Islamic Law and Society

The Muwatta ' of Mālik seems anomalous . About one bāb in four evidently lets
hadith reports speak for themselves in the manner of traditionist - jurisprudents ,
yet we never see precisely the traditionalist form of argument , “ The rule is X on ...

Jewish and Islamic Law

A Comparative Study of Custom During the Geonic Period

This is the first attempt to present a comprehensive comparative study of Jewish-Islamic law on a particular topic during the early Middle Ages. Libson's in-depth study of Islamic law, together with his expertise in the wide range of geonic and rabbinic literature, enable him to determine the influence of Muslim practice on geonic custom.

Islam and Lex gentium ” ( in Hebr . ) , in The Arab States : Processes and Basic
Problems ( in Hebr . ) , ed . E . Shaked , Tel Aviv 1978 , pp . 43 – 50 . - " Sharī ' a
and Namus in the Philosophical Thought of Maimonides ” ( in Hebr . ) , in
Teʻudah ...

Islamic Law and Finance

A collection of papers analyzing the various attempts to establish a system of Islamic law and finance. It investigates the modes of operation of institutions adopting the Islamic system, drawing on examples such as Malaysia, Iran, Pakistan and Egypt. Annotation copyrighted by Book News, Inc., Portland, OR

its broadest sense , to include other levies postulated by Islam . The use of the
word synonymously with taxation largely arises from the emphasis in
contemporary Islamic economic literature on zakat as a comprehensive
framework for taxation ...

Encyclopaedia of Quranic Studies: Law under Quran

Some jurists maintain that the word Quran applies to the eternal speech of the
Almighty as well as to the written text that is recited . To refine their definition
some insist that it is the recited text that is meant here , while others maintain that
both ...

Islamic Law in Malaysia

Issues and Developments

The present law requires couples seeking divorce to undergo counselling before
they go to court . In order to delay the process , men aften fail to turn up at these
counselling sessions . Since no time frame is given for counselling sessions ...

Islamic and Comparative Law Quarterly

Country Name of bank Year of establishment Cyprus Kibriz Islamic Bank 1982
Denmark Faisal Islamic Bank , Myreen Islamic Bank International Copenhagen
Egypt Islamic Bank Investment Asso . 1972 Nasser Social Bank Faisal Islamic
Bank ...

Islam, International Law and the War Against Terrorism

Fourth, the countries chosen as Islam's paradigm are almost always those where
Western-installed repressive and undemocratic regimes are in control; and
where economic and political underdevelopment is endemic. Independent-
minded or ...

Islam, Islamic Law, and the Turn to Violence

Islamic Law , Theory and Practice Religious Minorities in Islamic Law .
CHARACTERISTICS OF ISLAMIC GOVERNMENT To understand the nature of
Islamic government , one must first realize that for any state to survive , it must
have three ...