Islamic Banking and Finance in the European Union: A by M. Fahim Khan, Mario Porzio

By M. Fahim Khan, Mario Porzio

This well timed ebook examines the authorisation of Shari'ah-compliant intermediaries as both credits associations or as funding businesses within the ecu Union. The contributing authors discover the main issues of this region via differing but parallel views - for instance, evaluating monetary and criminal standpoints, taking a look at either ecu and nationwide degrees and contemplating either educational and technical methods. The e-book discusses the typical foundation of Islamic and Western traditions in advertisement and banking transactions, reviewing a interval within which the Italian retailers and their companies drove the rebirth of post-medieval society in alternate and legislation. The editors examine no matter if the Islamic banking and monetary version complies with the eu framework, spelling out different stories in unmarried Member States (Germany, France, Italy, and the United Kingdom). although the hindrances to being authorized as family credits associations, they finish that the entry of Islamic intermediaries is appropriate and should have optimistic results on ecu integration, in addition to expanding the contest one of the stand-still operators and evoking the moral size of banking and finance. The ebook additionally highlights how Islamic banking could make the extra inclusive. This multidisciplinary publication will charm vastly to economics and felony students with an curiosity in ecu and foreign banking and monetary legislation, in addition to postgraduate scholars in foreign legislations and banking legislation. Practitioners and regulators also will locate this booklet a useful source.

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Non trovò posto, e non si sa bene in quali forme si svolgesse la tutela giudiziaria’. 4. ‘Statuta per quae providetur ipsis mercatoribus et artibus ut melius mercatura et artes exerceantur, pertinent ad statum civitatis et bonum publicum’ (Santarelli 1998 p. 60). 5. ‘An mercator sit miserabilis persona’ (Piergiovanni 2005, pp. 617–34). 6. See above, note 3. 7. On the definition of commenda, see, in this book, Chapters 2 and 3. 20 Islamic banking and finance in the European Union 8. He wrote: ‘certam mutuans pecuniae quantitatem’.

The gap between theory and practice, in this specific area, emerges in the historical experience of the elaboration of a series of ‘fictions’ (hiyal) through which, following the indications of the juridical doctrine itself, it was possible to work around the strict divine prohibition. At the same The provision and management of savings 25 time, however, a significant strengthening of associative relations between traders developed (based mostly on family relations); such partnerships worked as suitable devices for the circulation of capital with a uniform distribution of the risks involved in commercial operations at the time.

A. (1996), ‘The Illegality of Taking Interest from Muslim Countries’, Arab Law Quarterly, XI (3), 281–4. Anwar, M. (2003), ‘Islamicity of Banking and Modes of Islamic Banking’, Arab Law Quarterly, 18 (1), 291–308. M. A. (2007), ‘Legal Impediments to the Collateralization of Intellectual Property in the Malaysian Dual Banking System’, Asian Journal of Comparative Law, 2 (1), 1–34. Bekkin, R. (2007), ‘Islamic Insurance: National Features and Legal Regulation’, Arab Law Quarterly, 21 (1), 3–34; Arab Law Quarterly, 21 (2), 109–34; Arab Law Quarterly, 21 (3), 251–68.

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