Islamic Financial Contracts

Islamic Financial Contracts
Author: Hussain Mohi-ud-Din Qadri
Publisher: Routledge
Total Pages: 214
Release: 2021-06-30
Genre: Business & Economics
ISBN: 1000406369

Islam encourages business and financial transactions as a way of securing the basic needs for all human beings, but these need to be conducted in accordance with the principles contained in the Qur’ān and Sunnah. However, these legal concepts are not classified subject-wise, and the verses on commercial law, like all other topics, are scattered throughout the Qur’ān, making it difficult for readers to gain a full understanding of the topic. This, therefore, is the first comprehensive book to demystify Islamic contract law and specifically Islamic financial contracts, and to examine its roots and history. The book is written in a clear style to allow for a greater understanding of the more challenging and misunderstood areas pertaining to Islamic business and financial contracts. It also contributes a series of chapters which address the market niche and need, concerning Shariah compliance for Islamic financial products and services. The book is divided into 16 chapters in order to provide a holistic and thorough overview of Islamic law of contract. It covers the objections and misconceptions surrounding Islamic business and financial contracts. It also includes the key features and guiding principles of Islamic law of contract and offers technical know-how, illustrating the concept of formation of a contract, as well as the essential elements of a valid contract. The authors also offer a discussion on the system of options under Islamic business and financial contracts and potential solutions to breach of contracts. The book will serve as a handy reference for scholars and students of Islamic business and finance and Islamic commercial law and will also be beneficial for practitioners as well as legal and judicial officers. It will open new doors for further research in the field of Islamic financial contracts.

The Theory of Contracts in Islamic Law:A Comparative Analysis with Particular Reference to Modern Legislation in Kuwait, Bahrain and the U. A. E.

The Theory of Contracts in Islamic Law:A Comparative Analysis with Particular Reference to Modern Legislation in Kuwait, Bahrain and the U. A. E.
Author: Susan E. Rayner
Publisher: Springer
Total Pages: 488
Release: 1991-11-25
Genre: Law
ISBN:

Since the discovery of oil in the Middle East an increasing number of important contracts must be framed in accordance with the Shari'a. Moreover various factors have helped to create among Muslims a more acute sense of an original Islamic identity & a collective feeling that Shari's should govern their lives not only with regard to personal & family matters but also as a valid & reasonable corpus of commercial & civil laws. The ban on taking interest (riba) & the rejection of chance contracts (gharar) are two features of an Islamic law of contract which contrast with the secular man-made legal systems of the West. This book is concerned with these two Islamic Prohibitory rules & with the interest-free banking system which has developed therefrom. This is a new enlarged edition where the comparative examination of the topics of the book is updated & furthermore extended to cover the Shi'a Ja'fari fiqh. As a result all aspects are examined in the light of the teachings of the four Sunni schools -which hold authority in the Arab states & in Pakistan -of the Ibadis strongly present in Oman & of the Shi'a Ja'faris prevalent in Iran & largely present in Iraq, Bahrein, Kuweit & Lebanon. The new edition will confirm the use of the initial one as a text book with a particular appeal to academics & practising lawyers. It also provides an insight into the religious & idealogical foundations claimed by Islamic banking.

Justice in Transactions

Justice in Transactions
Author: Peter Benson
Publisher: Belknap Press
Total Pages: 625
Release: 2019-12-17
Genre: Law
ISBN: 0674237595

“One of the most important contributions to the field of contract theory—if not the most important—in the past 25 years.” —Stephen A. Smith, McGill University Can we account for contract law on a moral basis that is acceptable from the standpoint of liberal justice? To answer this question, Peter Benson develops a theory of contract that is completely independent of—and arguably superior to—long-dominant views, which take contract law to be justified on the basis of economics or promissory morality. Through a detailed analysis of contract principles and doctrines, Benson brings out the specific normative conception underpinning the whole of contract law. Contract, he argues, is best explained as a transfer of rights, which is complete at the moment of agreement and is governed by a definite conception of justice—justice in transactions. Benson’s analysis provides what John Rawls called a public basis of justification, which is as essential to the liberal legitimacy of contract as to any other form of coercive law. The argument of Justice in Transactions is expressly complementary to Rawls’s, presenting an original justification designed specifically for transactions, as distinguished from the background institutions to which Rawls’s own theory applies. The result is a field-defining work offering a comprehensive theory of contract law. Benson shows that contract law is both justified in its own right and fully congruent with other domains—moral, economic, and political—of liberal society.

Contracts in Islamic Law

Contracts in Islamic Law
Author: Hussein Hassan
Publisher: I. B. Tauris
Total Pages: 208
Release: 2015-02-15
Genre: Law
ISBN: 9781850439295

This book introduces students to the theoretical and philosophical foundations of Islamic contractual law. Islamic law is applied in differing degrees by many countries across the world and especially in the Middle East. Considering the strategic and financial importance of these countries, taken as a whole, it is surprising how little academic writing exists in the West on either Islamic law or Middle Eastern law. Recently, there have been signs of a burgeoning interest in Middle Eastern law. However, traditional Islamic law remains a neglected area of study. Hussein Hassan makes a significant contribution by presenting a detailed survey (which utilizes both contemporary and classical sources) of a crucially important area of Islamic law - contract law - and by adopting an approach that gives priority to theory and to a comparative analysis with Anglo-American law theory. Contracts in Islamic Law offers an invaluable resource to academics and researchers with a specific interest in Islamic law, to postgraduate students and final year students of law, and to scholars whose main focus is Anglo-American contract law but who are interested in comparative law/theory. The book will also appeal to a non-legal readership working in Islamic studies more generally.

The Marriage Contract in Islamic Law in the Shari'ah and Personal Status laws of Egypt and Morocco

The Marriage Contract in Islamic Law in the Shari'ah and Personal Status laws of Egypt and Morocco
Author: Dawoud Sudqi El Alami
Publisher: BRILL
Total Pages: 198
Release: 2023-11-27
Genre: Law
ISBN: 9004632360

This book is an analysis of the contract of marriage according to the Islamic Shari'ah and of two modern Islamic states. It examines the prerequisites for marriage, the elements which go to form the contract, the processes involved in making the contract, and the institution of marriage itself. The author expresses the essential Islamic concepts of marriage faithfully whilst making the work as accessible as possible te readers of various backgrounds. It will be of interest to legal professionals, to academics and students of Islamic law, and to those interested in Islam, the Middle East and North Africa. Useful Tables of Laws ans Cases are included.

Islamic Commercial Law

Islamic Commercial Law
Author: Mohamed H. Reda
Publisher: BRILL
Total Pages: 218
Release: 2017-11-01
Genre: Law
ISBN: 9004344462

Islamic Commercial Law: Contemporariness, Normativeness and Competence offers new perspectives on why for centuries Islamic commercial law has been perceived as arbitrary and unpredictable, and on its evolution to a contemporary, consistent, reliable and credible body of law. The book also examines why Western positivists have viewed Islamic commercial law in a simplistic or archaic religious framework and counters those arguments with an examination of its normative legal qualities. The work analyses the competencies of Fiqh (jurisprudence) for structuring new financial instruments, and restructuring conventional financial products more equitability.

Custom in Islamic Law and Legal Theory

Custom in Islamic Law and Legal Theory
Author: Ayman Shabana
Publisher: Springer
Total Pages: 272
Release: 2010-11-14
Genre: Religion
ISBN: 0230117341

This book explores the relationship between custom and Islamic law and seeks to uncover the role of custom in the construction of legal rulings. On a deeper level, however, it deals with the perennial problem of change and continuity in the Islamic legal tradition (or any tradition for that matter).

The Spirit of Islamic Law

The Spirit of Islamic Law
Author: Bernard G. Weiss
Publisher: University of Georgia Press
Total Pages: 233
Release: 2006
Genre: Law
ISBN: 0820328278

Focuses on a Muslim legal science known in Arabic as usul al-fiqh. Whereas the kindred science of fiqh is concerned with the articulation of actual rules of law, this science attempts to elaborate the theoretical and methodological foundations of the law. It outlines the features of Muslim juristic thought.