The Paradox of Islamic Finance: How Shariah Scholars Reconcile Religion and Capitalism

Ryan Calder; Ryan Calder

Präsentiert durch Paradigm Publishing Services

Princeton University Press

Unsere Partnerseite besuchen Alle unsere Bücher ansehen

Buch

The Paradox of Islamic Finance

How Shariah Scholars Reconcile Religion and Capitalism

und

Sprache: Englisch

Veröffentlicht/Copyright: 2024

Über dieses Buch

How the booming Islamic finance industry became an ultramodern hybrid of religion and markets

In just fifty years, Islamic finance has grown from a tiny experiment operated from a Volkswagen van to a thriving global industry worth more than the entire financial sector of India, South America, or Eastern Europe. You can now shop with an Islamic credit card, invest in Islamic bonds, and buy Islamic derivatives. But how has this spectacular growth been possible, given Islam’s strictures against interest? In The Paradox of Islamic Finance, Ryan Calder examines the Islamic finance boom, arguing that shariah scholars—experts in Islamic law who certify financial products as truly Islamic—have made the industry a profitable, if controversial, hybrid of religion and markets.

Critics say Islamic finance merely reproduces conventional interest-based finance, with the shariah scholars’ blessing. From an economic perspective, they are right: the most popular Islamic products act like conventional interest-bearing ones, earning healthy profits for Islamic banks and global financial heavyweights like Deutsche Bank and Goldman Sachs. Yet as Calder shows by delving into the shariah scholars’ day-to-day work, what seem like high-tech work-arounds to outsiders carry deep and nuanced meaning to the scholars—and to the hundreds of millions of Muslims who respect their expertise. He argues that shariah scholars’ conception of Islamic finance is perfectly suited to the age of financialization and the global efflorescence of shariah-minded Islam.

Information zu Autoren / Herausgebern

Ryan Calder is assistant professor of sociology and director of the Program in Islamic Studies at Johns Hopkins University. Before entering academia, he worked in management consulting and then covered the Libyan Arab Spring uprising for The Atlantic and Foreign Policy.

Rezensionen

"The Paradox of Islamic Finance makes a significant contribution to business history by illuminating how Islamic financial institutions have evolved from marginal experiments to significant global players, adapting religious principles to function within contemporary capitalist markets."---Muhammad Noval, Regulation & Governance --- "Ryan Calder has written a highly readable and sensitive ethnographic study of Islamic finance that merits a wide readership. . . . . Much Islamic finance literature effaces the decisions that individual Muslims undertake when they are compelled to decide between conventional and Islamic financial services. Nowhere else have the multiple subjectivities and discourses underpinning Islamic banking been accorded a better narrative than here."---Michael O’Sullivan, Bustan --- "One of the key classical texts in economic sociology with an original contribution to our understanding of the relationship between religion and capitalism in the 21st century. . . . [The Paradox of Islamic Finance] is a must-read for anyone seeking to understand the dynamic relationship between religion, finance, and capitalism in contemporary times."---Fulya Apaydin, European Journal of Sociology

Fachgebiete

Öffentlich zugänglich

Frontmatter
i

PDF downloaden
Öffentlich zugänglich

Contents
ix

PDF downloaden
Öffentlich zugänglich

Preface
xi

PDF downloaden
Öffentlich zugänglich

Translation and Romanization
xix

PDF downloaden
Öffentlich zugänglich

Glossary of Arabic and Urdu Terms
xxi

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

Introduction
1

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

1 Origins
28

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

2 Ethics
71

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

3 Profitability
101

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

4 Legitimation
120

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

5 Justification
140

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

6 Restriction
169

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

7 State and Society
204

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

Conclusion
240

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

Acknowledgments
265

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

Methodological Appendix
271

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

Notes
279

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

Bibliography
301

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

Index
327

PDF downloaden
Erfordert eine Authentifizierung Nicht lizenziert

Lizenziert

A NOTE ON THE TYPE
349

PDF downloaden

Informationen zur Veröffentlichung

Seiten und Bilder/Illustrationen im Buch

eBook veröffentlicht am:

2. August 2024

eBook ISBN:

9780691258324

Seiten und Bilder/Illustrationen im Buch

https://doi.org/10.1515/9780691258324

eBook ISBN: 9780691258324

Schlagwörter für dieses Buch

Islamic; Shariah; Finance; Scholars; Islamic finance; Shariah scholars; Economic; Law; Usury; Market; Muslims; Religious; Saudi; Al; Products; Business; Customers; Money; Transactions; Modern; Profit; Tawarruq; Gulf; Institutions; Islamic law; Capitalist; Government; Loan; Compliant; Legal; Fiqh; Arabia; Sukuk; Economists; Moral; Islamic banking; Saudi arabia; Shariah compliant; Jurists; Islamic financial; Islam; Elite; Classical; Investment; Contracts; Commercial; Investors; Economy; Oil; Ethical; Financial institutions; Simulation; Juristic; Compliance; Accounts; Firms; Funds; Century; Certification; Arab; Debt; Car; Boards; Pakistani; Equity; Countries; Bankers; Shariah compliance; Scholastic; Riba

Zielgruppe(n) für dieses Buch

For a non-specialist adult audience

Princeton University Press

The Paradox of Islamic Finance

Übersicht

Über dieses Buch

Information zu Autoren / Herausgebern

Rezensionen

Fachgebiete

Inhaltsverzeichnis

Frontmatter

Contents

Preface

Translation and Romanization

Glossary of Arabic and Urdu Terms

Introduction

1 Origins

2 Ethics

3 Profitability

4 Legitimation

5 Justification

6 Restriction

7 State and Society

Conclusion

Acknowledgments

Methodological Appendix

Notes

Bibliography

Index

A NOTE ON THE TYPE

Bibliographische Daten