A concise study of the practices in Islamic commercial law Filling a gap in the current literature, Islamic Commercial Law is the only book available that combines the theory and practice of Islamic commercial law in an English-language text. From the experts at the International Islamic University Malaysia, the book examines the source materials in the Qur'an and Hadith, and highlights the views and positions of leading schools of Islamic law, without burying the reader in juristic minutia. It combines theory with practice to address the needs of students while providing a pragmatic treatment of Islamic contracts. It provides diagrams for individual contracts to reveal the type and nature of the contractual relationships between parties and discusses all types of fundamental transactions, including sales, loans, debt transfers, partnerships, and more. Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance Closes a vital gap in the English-language literature on Islamic commercial law Features end-of-chapter questions to enable self-testing and provoke critical thinking An ideal guide for current students, researchers, and practitioners, Islamic Commercial Law offers a concise yet comprehensive coverage of the subject.
A concise study of the practices in Islamic commercial law Filling a gap in the current literature, Islamic Commercial Law is the only book available that combines the theory and practice of Islamic commercial law in an English-language text. From the experts at the International Islamic University Malaysia, the book examines the source materials in the Qur'an and Hadith, and highlights the views and positions of leading schools of Islamic law, without burying the reader in juristic minutia. It combines theory with practice to address the needs of students while providing a pragmatic treatment of Islamic contracts. It provides diagrams for individual contracts to reveal the type and nature of the contractual relationships between parties and discusses all types of fundamental transactions, including sales, loans, debt transfers, partnerships, and more. Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance Closes a vital gap in the English-language literature on Islamic commercial law Features end-of-chapter questions to enable self-testing and provoke critical thinking An ideal guide for current students, researchers, and practitioners, Islamic Commercial Law offers a concise yet comprehensive coverage of the subject.
ÔI read with great interest the current state of Islamic economics and finance as examined by Muhammad Akram Khan, who has given a fresh outlook for the readers to find out its limitations and to search for its solutions. Khan has read widely in the subject matter, and presented his views with reference to literature and thoughtful and logical arguments. While many may not agree with his arguments or will have a better explanation, I find his arguments at least worthy of examination to strengthen the arguments of those who might oppose him. Although Khan is critical of the subject matter, he is very sympathetic to the greater objectives of Islamic economics and provides his own prescriptions to achieve those objectives.Õ Ð M. Kabir Hassan, University of New Orleans, US ÔThis is a very thought provoking book coming at a crucial stage in the development of Islamic economics and finance. Although the reader may not agree with some of the conclusions reached, it is clearly a scholarly and extensively researched piece of work; it should be read by all serious students of the subject area. Amongst other things, it throws light on the reasons why the practical implementation of Islamic economics and finance, particularly in relation to the financial system and financial institutions, has not always conformed to the true theoretical foundations laid down by Islamic scholars.Õ Ð John Presley, Loughborough University, UK and recipient of Islamic Development Bank Prize in Islamic Finance, 2001Ð2002 ÔÒIslamic economic system is a type of capitalism with a spiritual dimensionÓ is a major conclusion of this book. I applaud this insight of Muhammad Akram Khan. The same can be perhaps said of Islamic finance, which, in its hurry to build viable and efficient financial institutions, has ignored the very same need to start with profits-and-risk-sharing principle and no-riba principles to build pricing models to anchor the new sub-discpline. The good news is that, in the course of time to come, AkramÕs advocacy may be realised since such serious works have already begun.Õ Ð Mohamed Ariff, University Putra Malaysia and Bond University, Australia ÔAlthough there are many books on Islamic economics, this critical, but sympathetic, account by Muhammad Akram Khan is worthy of attention. The author has clearly read widely on the subject and appreciates the limitations of much that he has read. Islamic economics is a work in progress and by focusing on its shortcomings, Khan challenges the assumptions of many working in the field. His discussion of methodology is insightful, and even the prohibition of riba, for many the defining characteristic of Islamic finance, is examined from a fresh perspective. While many will not agree with the analysis and the conclusions, even critics should be able to appreciate the strengths of the arguments made. In summary this is a worthwhile, and in many respects an innovative, survey of the state of Islamic economics and finance. It deserves to be widely read.Õ Ð Rodney Wilson, Durham University, UK What is Wrong with Islamic Economics? takes an objective look at the state of the art in Islamic economics and finance. It analyses reasons for perceived stagnation and also suggests a way forward. As well as probing various myths, the book presents several innovative ideas and a methodology for developing the subject on new foundations. It also highlights weaknesses in the conventional position on prohibition of interest, which has led Islamic banks devise a series of legal tricks. The author notes how the original aim of devising a new brand of banking has become less prominent whilst Islamic banks now position themselves more closely to conventional banks. The book also offers insights into how certain traditional thinking has seemingly ignored the egalitarian spirit of the law of zakah and created a scenario where zakah is not able to help the billions of poor people around the globe. This detailed book will appeal to students, professors, researchers, Islamic banks and finance houses, consulting companies, accounting firms, and regulatory bodies. Professional economists, libraries in research and training organizations, as well as anyone with a general interest in the topic will find much to interest them.
Imam Tirmidhi's Ash-Shama'il al-Muhammadiyyah is a distinguished compendium of Hadith discussing the perfect features, lofty attributes, and and qualities of the Messenger of Allah ﷺ. Throughout history, many scholars have penned commentaries on the Shama'il and the great scholar, Shaykh al-Hadith Muhammad Zakariyya Kandhlawi, has also added an invaluable addition in the Urdu language, titled Khasa'il Nabawi - a beneficial and invigorating commentary for scholars and the general public alike. This English translation presents the Hadith compiled by Imam Tirmidhi alongside Shaykh Zakariyya's commentary. Readers can anticipate beautiful examples of the Messenger of Allah's ﷺ blessed lifestyle, his perfect characteristics, habits, style, morals and worship in a clear, coherent and comprehensible style.
This book, in its effort to formulate compatibility between Islamic law and the principles of international diplomatic law, argues that the need to harmonize the two legal systems and have a thorough cross-cultural understanding amongst nations generally with a view to enhancing unfettered diplomatic cooperation should be of paramount priority.
PAKISTAN Muhammad Anwar and Ebad Baig The creation of Pakistan on August 14, 1947, was a rare and unprecedented event in the study of politics that the world has ever seen. However, the Indian leadership never accepted the creation of Pakistan, and its security remained threatened even after a long period of existence because of the Kashmir dispute, which was left unresolved at the time of the partition of the subcontinent. The worst happened when Pakistans founding father passed away on September 11, 1948, followed by the assassination of the first prime minister of Pakistan, Liaquat Ali Khan, on October 16, 1951. The weak and shrewd political leadership eventually paved the way for the military intervention, and Pakistan remained under the dictatorial governments for more than three decades between 1958 and 2008. As a result of the political void, Pakistan was dismembered in December 1971 by the direct Indian military action in East Pakistan while the United States played the role of a spectator. Despite the US duplicity in 1971, Pakistan remained engaged in fighting the US proxy war in Afghanistan since 1979 and was facing the fierce situation in the hands of the terrorists who were expressing their anger and revenge through bomb blasts and suicidal attacks all over the country. This book examines Pakistans journey through the turbulent waters of the history right from 1947 to 2012, pinpointing what went wrong during the whole passage and those responsible for the disasters that the Pakistani nation has to painfully endure continuously during all these years. This is to allow the military leaders to review and fix the institution burdened with the task of defending the homeland and the political leadership to walk through this mirror for making Pakistan a strong and modern Muslim state in the world in line with the vision of Mohammad Ali Jinnah.
In this autobiographical, historical and analytical perspective on Pakistan, Najm takes a closer look at the judicial revolution in Pakistan. Pakistani Judiciary becomes the reader's navigator through meandering paths of Pakistan's internal battles for institutional growth. This is also a diplomat's view of the socio-historical evolution of Pakistan. His outlook combines an insider's insights and limitations with an extensive historical and cultural learning process that includes living, working and pursuing academic interests abroad. He also unravels fundamental contradictions that militate against emergence of equitable educational opportunities in Pakistan. He meets thus a general reader, a policy maker, legal community abroad and at home, democracy advocates, the Diaspora, the students and analysts on their turf. Born in Multan, Pakistan, Najm is currently a candidate for MA in Law and Diplomacy, at The Fletcher School of Law and Diplomacy, Tufts University.
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