MODES DE FINANCEMENT ISLAMIQUES CONTEMPORAINS: ENTRE LES SPECIFICITES TECHNIQUES DES CONTRATS ET LES OBJECTIFS DE LA CHARI‘AH

Contemporary Islamic financing modes between contract Technicalities and Shariah objectives

Abdulazeem Abozaid

MPRA Paper from University Library of Munich, Germany

Abstract: Some contemporary Islamic banking and finance practices have raised legal controversies that arguably eliminate any substantial differences between them and their conventional counterparts. These practices seek their legitimacy from adherence to merely contractual requirements in terms of form and structure, far from considering and looking into the contractual substance and content. These controversial practices of Islamic banks are thought to pose a threat to this emerging industry, and they have somehow led to the distortion of the religion in the eyes of the discerning public and the non-Muslims. This paper examines, through a maqasidi approach, the most controversial financing modes adopted by different Islamic financial institutions, and discusses the various justifications provided to support their legitimacy. The paper also outlines the prospectus of what constitutes a genuine Shari[ah compatible product.

Keywords: Islamic finance; cash finance; controversial islamic finance; Tawarruq (search for similar items in EconPapers)
JEL-codes: G2 G21 G23 (search for similar items in EconPapers)
Date: 2011
References: View complete reference list from CitEc
Citations:

Published in Etudes en Economic Islamique 1.5(2011): pp. 21-43

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/93406/1/MPRA_paper_93406.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:93406

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().