A critique of creative Shari'ah compliance in the Islamic finance industry /:
Ahmad Alkhamees defines Creative Shari'ah compliance as compliance with the letter but not the objectives of Shari'ah. In recent years, Islamic finance industry practises have come under scrutiny, with strong critiques levelled against many institutions that claim to provide Shari'ah-...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Leiden :
Brill Nijhoff,
2017.
|
| Schriftenreihe: | Brill's Arab and Islamic Laws Ser.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Ahmad Alkhamees defines Creative Shari'ah compliance as compliance with the letter but not the objectives of Shari'ah. In recent years, Islamic finance industry practises have come under scrutiny, with strong critiques levelled against many institutions that claim to provide Shari'ah-compliant products and services, which in fact undermine the spirit and the objectives of Shari'ah. This book significantly contributes to the sphere of Islamic finance in three main ways. First, it critically appraises justifications of creative Shari'ah compliance practises. Second, it examines how Shari'ah supervisory board (SSB) governance practises, and the inconsistent fatwas issued by SSBs, contribute to the issue of creative Shari'ah compliance. Most importantly, it suggests regulatory mechanisms which regulators can employ in Islamic countries such as Saudi Arabia and in secular countries such as the United Kingdom to deal with the issue of creative Shari'ah compliance. |
| Beschreibung: | 1 online resource |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9004344438 9789004344433 |
Internformat
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| 505 | 0 | |a Contents -- Acknowledgements -- Glossary of Arabic Terms -- Table of Cases -- List of Statutes -- List of Diagrams and Tables -- Abbreviations -- Introduction -- Chapter 1 An Overview of Sharıʿah -- 1.1 Introduction -- 1.2 Overview of Sharıʿah and Its Foundation -- 1.3 Schools of Thought -- 1.4 Islamic Legal Ruling -- 1.5 Main Features of Islamic Finance -- 1.6 Sharıʿah-Compliant Financial Instruments -- 1.7 The Objectives of Islamic Law -- 1.8 Conclusion | |
| 505 | 8 | |a Chapter 2 The Form Versus Substance Debate and the Roots of Creative Sharıʿah Compliance in Islamic Finance: Why Reinvent the Wheel?2.1 Introduction -- 2.2 The Definition of áıÞılah -- 2.3 The Origins and the Evolution of áıÞılah -- 2.4 Positions on áıÞılah of Islamic Schools of Thought -- 2.5 Refuting the Pro-áıÞılah Arguments -- 2.6 Conclusion -- Chapter 3 Tawarruq as a Case Study of Creative Sharıʿah Compliance -- 3.1 Introduction -- 3.2 Definition of Tawarruq and Selection Rationale -- 3.3 The Development of Tawarruq | |
| 505 | 8 | |a 3.4 The Differences between Jurisprudential and Organised Tawarruq3.5 Forms of Tawarruq -- 3.6 Sharıʿah Juristsâ#x80;#x99; Views on Tawarruq -- 3.7 Conclusion -- Chapter 4 Standardisation of FatwÄ#x81;s to Reduce Creative Sharıʿah Compliance -- 4.1 Introduction -- 4.2 Standardisation: A Definition -- 4.3 Why Is Standardisation Needed? -- 4.4 Causes of Juristic Differences -- 4.5 Remedies for Inconsistency -- 4.6 Conclusion -- Chapter 5 The Impact of Sharıʿah Governance Practises on Sharıʿah Compliance in Contemporary Islamic Finance -- 5.1 Introduction | |
| 505 | 8 | |a 5.2 Sharıʿah Supervisory Board Definition5.3 The Importance of SSBs -- 5.4 Regulatory Issues Surrounding Sharıʿah Supervisory Boards -- 5.5 Conclusion -- Chapter 6 Public Mechanisms to Remedy Creative Sharıʿah Compliance -- 6.1 Introduction -- 6.2 Overview and Justification of CSSBs -- 6.3 Tasks of CSSBs -- 6.4 The Central Sharıʿah Board in Sudan -- 6.5 The Central Sharıʿah Board in Malaysia -- 6.6 UK Regulatorsâ#x80;#x99; Approach towards Sharıʿah Governance -- 6.7 Saudi Regulatorsâ#x80;#x99; Approach towards Sharıʿah Governance -- 6.8 Compulsory Disclosure | |
| 505 | 8 | |a 6.9 ConclusionChapter 7 Private Mechanisms to Remedy Creative Sharıʿah Compliance -- 7.1 Introduction -- 7.2 Sharıʿah Compliance Rating -- 7.3 Sharıʿah Indices -- 7.4 Private External Sharıʿah Auditing Firms -- 7.5 International Islamic Financial Standards -- 7.6 Whistle Blowing -- 7.7 Characterising the Articles of Association -- 7.8 Conclusion -- Conclusion -- Bibliography | |
| 520 | |a Ahmad Alkhamees defines Creative Shari'ah compliance as compliance with the letter but not the objectives of Shari'ah. In recent years, Islamic finance industry practises have come under scrutiny, with strong critiques levelled against many institutions that claim to provide Shari'ah-compliant products and services, which in fact undermine the spirit and the objectives of Shari'ah. This book significantly contributes to the sphere of Islamic finance in three main ways. First, it critically appraises justifications of creative Shari'ah compliance practises. Second, it examines how Shari'ah supervisory board (SSB) governance practises, and the inconsistent fatwas issued by SSBs, contribute to the issue of creative Shari'ah compliance. Most importantly, it suggests regulatory mechanisms which regulators can employ in Islamic countries such as Saudi Arabia and in secular countries such as the United Kingdom to deal with the issue of creative Shari'ah compliance. | ||
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| author | Alkhamees, Ahmad (Ahmad A.) |
| author_GND | http://id.loc.gov/authorities/names/n2017018495 |
| author_facet | Alkhamees, Ahmad (Ahmad A.) |
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| contents | Contents -- Acknowledgements -- Glossary of Arabic Terms -- Table of Cases -- List of Statutes -- List of Diagrams and Tables -- Abbreviations -- Introduction -- Chapter 1 An Overview of Sharıʿah -- 1.1 Introduction -- 1.2 Overview of Sharıʿah and Its Foundation -- 1.3 Schools of Thought -- 1.4 Islamic Legal Ruling -- 1.5 Main Features of Islamic Finance -- 1.6 Sharıʿah-Compliant Financial Instruments -- 1.7 The Objectives of Islamic Law -- 1.8 Conclusion Chapter 2 The Form Versus Substance Debate and the Roots of Creative Sharıʿah Compliance in Islamic Finance: Why Reinvent the Wheel?2.1 Introduction -- 2.2 The Definition of áıÞılah -- 2.3 The Origins and the Evolution of áıÞılah -- 2.4 Positions on áıÞılah of Islamic Schools of Thought -- 2.5 Refuting the Pro-áıÞılah Arguments -- 2.6 Conclusion -- Chapter 3 Tawarruq as a Case Study of Creative Sharıʿah Compliance -- 3.1 Introduction -- 3.2 Definition of Tawarruq and Selection Rationale -- 3.3 The Development of Tawarruq 3.4 The Differences between Jurisprudential and Organised Tawarruq3.5 Forms of Tawarruq -- 3.6 Sharıʿah Juristsâ#x80;#x99; Views on Tawarruq -- 3.7 Conclusion -- Chapter 4 Standardisation of FatwÄ#x81;s to Reduce Creative Sharıʿah Compliance -- 4.1 Introduction -- 4.2 Standardisation: A Definition -- 4.3 Why Is Standardisation Needed? -- 4.4 Causes of Juristic Differences -- 4.5 Remedies for Inconsistency -- 4.6 Conclusion -- Chapter 5 The Impact of Sharıʿah Governance Practises on Sharıʿah Compliance in Contemporary Islamic Finance -- 5.1 Introduction 5.2 Sharıʿah Supervisory Board Definition5.3 The Importance of SSBs -- 5.4 Regulatory Issues Surrounding Sharıʿah Supervisory Boards -- 5.5 Conclusion -- Chapter 6 Public Mechanisms to Remedy Creative Sharıʿah Compliance -- 6.1 Introduction -- 6.2 Overview and Justification of CSSBs -- 6.3 Tasks of CSSBs -- 6.4 The Central Sharıʿah Board in Sudan -- 6.5 The Central Sharıʿah Board in Malaysia -- 6.6 UK Regulatorsâ#x80;#x99; Approach towards Sharıʿah Governance -- 6.7 Saudi Regulatorsâ#x80;#x99; Approach towards Sharıʿah Governance -- 6.8 Compulsory Disclosure 6.9 ConclusionChapter 7 Private Mechanisms to Remedy Creative Sharıʿah Compliance -- 7.1 Introduction -- 7.2 Sharıʿah Compliance Rating -- 7.3 Sharıʿah Indices -- 7.4 Private External Sharıʿah Auditing Firms -- 7.5 International Islamic Financial Standards -- 7.6 Whistle Blowing -- 7.7 Characterising the Articles of Association -- 7.8 Conclusion -- Conclusion -- Bibliography |
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| discipline | Rechtswissenschaft |
| format | Electronic eBook |
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| indexdate | 2024-11-26T14:49:27Z |
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| isbn | 9004344438 9789004344433 |
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| series | Brill's Arab and Islamic Laws Ser. |
| series2 | Brill's Arab and Islamic Laws Ser. |
| spelling | Alkhamees, Ahmad (Ahmad A.), author. http://id.loc.gov/authorities/names/n2017018495 A critique of creative Shari'ah compliance in the Islamic finance industry / by Ahmad Alkhamees. 1707 Leiden : Brill Nijhoff, 2017. 1 online resource text txt rdacontent computer n rdamedia online resource nc rdacarrier Brill's Arab and Islamic Laws Ser. Includes bibliographical references and index. Print version record and CIP data provided by publisher; resource not viewed. Contents -- Acknowledgements -- Glossary of Arabic Terms -- Table of Cases -- List of Statutes -- List of Diagrams and Tables -- Abbreviations -- Introduction -- Chapter 1 An Overview of Sharıʿah -- 1.1 Introduction -- 1.2 Overview of Sharıʿah and Its Foundation -- 1.3 Schools of Thought -- 1.4 Islamic Legal Ruling -- 1.5 Main Features of Islamic Finance -- 1.6 Sharıʿah-Compliant Financial Instruments -- 1.7 The Objectives of Islamic Law -- 1.8 Conclusion Chapter 2 The Form Versus Substance Debate and the Roots of Creative Sharıʿah Compliance in Islamic Finance: Why Reinvent the Wheel?2.1 Introduction -- 2.2 The Definition of áıÞılah -- 2.3 The Origins and the Evolution of áıÞılah -- 2.4 Positions on áıÞılah of Islamic Schools of Thought -- 2.5 Refuting the Pro-áıÞılah Arguments -- 2.6 Conclusion -- Chapter 3 Tawarruq as a Case Study of Creative Sharıʿah Compliance -- 3.1 Introduction -- 3.2 Definition of Tawarruq and Selection Rationale -- 3.3 The Development of Tawarruq 3.4 The Differences between Jurisprudential and Organised Tawarruq3.5 Forms of Tawarruq -- 3.6 Sharıʿah Juristsâ#x80;#x99; Views on Tawarruq -- 3.7 Conclusion -- Chapter 4 Standardisation of FatwÄ#x81;s to Reduce Creative Sharıʿah Compliance -- 4.1 Introduction -- 4.2 Standardisation: A Definition -- 4.3 Why Is Standardisation Needed? -- 4.4 Causes of Juristic Differences -- 4.5 Remedies for Inconsistency -- 4.6 Conclusion -- Chapter 5 The Impact of Sharıʿah Governance Practises on Sharıʿah Compliance in Contemporary Islamic Finance -- 5.1 Introduction 5.2 Sharıʿah Supervisory Board Definition5.3 The Importance of SSBs -- 5.4 Regulatory Issues Surrounding Sharıʿah Supervisory Boards -- 5.5 Conclusion -- Chapter 6 Public Mechanisms to Remedy Creative Sharıʿah Compliance -- 6.1 Introduction -- 6.2 Overview and Justification of CSSBs -- 6.3 Tasks of CSSBs -- 6.4 The Central Sharıʿah Board in Sudan -- 6.5 The Central Sharıʿah Board in Malaysia -- 6.6 UK Regulatorsâ#x80;#x99; Approach towards Sharıʿah Governance -- 6.7 Saudi Regulatorsâ#x80;#x99; Approach towards Sharıʿah Governance -- 6.8 Compulsory Disclosure 6.9 ConclusionChapter 7 Private Mechanisms to Remedy Creative Sharıʿah Compliance -- 7.1 Introduction -- 7.2 Sharıʿah Compliance Rating -- 7.3 Sharıʿah Indices -- 7.4 Private External Sharıʿah Auditing Firms -- 7.5 International Islamic Financial Standards -- 7.6 Whistle Blowing -- 7.7 Characterising the Articles of Association -- 7.8 Conclusion -- Conclusion -- Bibliography Ahmad Alkhamees defines Creative Shari'ah compliance as compliance with the letter but not the objectives of Shari'ah. In recent years, Islamic finance industry practises have come under scrutiny, with strong critiques levelled against many institutions that claim to provide Shari'ah-compliant products and services, which in fact undermine the spirit and the objectives of Shari'ah. This book significantly contributes to the sphere of Islamic finance in three main ways. First, it critically appraises justifications of creative Shari'ah compliance practises. Second, it examines how Shari'ah supervisory board (SSB) governance practises, and the inconsistent fatwas issued by SSBs, contribute to the issue of creative Shari'ah compliance. Most importantly, it suggests regulatory mechanisms which regulators can employ in Islamic countries such as Saudi Arabia and in secular countries such as the United Kingdom to deal with the issue of creative Shari'ah compliance. Banking law (Islamic law) http://id.loc.gov/authorities/subjects/sh85011599 Finance (Islamic law) http://id.loc.gov/authorities/subjects/sh88004573 Finance Religious aspects Islam. http://id.loc.gov/authorities/subjects/sh2008120490 Banques (Droit islamique) Finances (Droit islamique) LAW Administrative Law & Regulatory Practice. bisacsh Banking law (Islamic law) fast Finance (Islamic law) fast Finance Religious aspects Islam fast Print version: Alkhamees, Ahmad (Ahmad A.). Critique of creative Shari'ah compliance in the Islamic finance industry. Leiden : Brill Nijhoff, 2017 9789004344396 (DLC) 2017015874 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1940316 Volltext |
| spellingShingle | Alkhamees, Ahmad (Ahmad A.) A critique of creative Shari'ah compliance in the Islamic finance industry / Brill's Arab and Islamic Laws Ser. Contents -- Acknowledgements -- Glossary of Arabic Terms -- Table of Cases -- List of Statutes -- List of Diagrams and Tables -- Abbreviations -- Introduction -- Chapter 1 An Overview of Sharıʿah -- 1.1 Introduction -- 1.2 Overview of Sharıʿah and Its Foundation -- 1.3 Schools of Thought -- 1.4 Islamic Legal Ruling -- 1.5 Main Features of Islamic Finance -- 1.6 Sharıʿah-Compliant Financial Instruments -- 1.7 The Objectives of Islamic Law -- 1.8 Conclusion Chapter 2 The Form Versus Substance Debate and the Roots of Creative Sharıʿah Compliance in Islamic Finance: Why Reinvent the Wheel?2.1 Introduction -- 2.2 The Definition of áıÞılah -- 2.3 The Origins and the Evolution of áıÞılah -- 2.4 Positions on áıÞılah of Islamic Schools of Thought -- 2.5 Refuting the Pro-áıÞılah Arguments -- 2.6 Conclusion -- Chapter 3 Tawarruq as a Case Study of Creative Sharıʿah Compliance -- 3.1 Introduction -- 3.2 Definition of Tawarruq and Selection Rationale -- 3.3 The Development of Tawarruq 3.4 The Differences between Jurisprudential and Organised Tawarruq3.5 Forms of Tawarruq -- 3.6 Sharıʿah Juristsâ#x80;#x99; Views on Tawarruq -- 3.7 Conclusion -- Chapter 4 Standardisation of FatwÄ#x81;s to Reduce Creative Sharıʿah Compliance -- 4.1 Introduction -- 4.2 Standardisation: A Definition -- 4.3 Why Is Standardisation Needed? -- 4.4 Causes of Juristic Differences -- 4.5 Remedies for Inconsistency -- 4.6 Conclusion -- Chapter 5 The Impact of Sharıʿah Governance Practises on Sharıʿah Compliance in Contemporary Islamic Finance -- 5.1 Introduction 5.2 Sharıʿah Supervisory Board Definition5.3 The Importance of SSBs -- 5.4 Regulatory Issues Surrounding Sharıʿah Supervisory Boards -- 5.5 Conclusion -- Chapter 6 Public Mechanisms to Remedy Creative Sharıʿah Compliance -- 6.1 Introduction -- 6.2 Overview and Justification of CSSBs -- 6.3 Tasks of CSSBs -- 6.4 The Central Sharıʿah Board in Sudan -- 6.5 The Central Sharıʿah Board in Malaysia -- 6.6 UK Regulatorsâ#x80;#x99; Approach towards Sharıʿah Governance -- 6.7 Saudi Regulatorsâ#x80;#x99; Approach towards Sharıʿah Governance -- 6.8 Compulsory Disclosure 6.9 ConclusionChapter 7 Private Mechanisms to Remedy Creative Sharıʿah Compliance -- 7.1 Introduction -- 7.2 Sharıʿah Compliance Rating -- 7.3 Sharıʿah Indices -- 7.4 Private External Sharıʿah Auditing Firms -- 7.5 International Islamic Financial Standards -- 7.6 Whistle Blowing -- 7.7 Characterising the Articles of Association -- 7.8 Conclusion -- Conclusion -- Bibliography Banking law (Islamic law) http://id.loc.gov/authorities/subjects/sh85011599 Finance (Islamic law) http://id.loc.gov/authorities/subjects/sh88004573 Finance Religious aspects Islam. http://id.loc.gov/authorities/subjects/sh2008120490 Banques (Droit islamique) Finances (Droit islamique) LAW Administrative Law & Regulatory Practice. bisacsh Banking law (Islamic law) fast Finance (Islamic law) fast Finance Religious aspects Islam fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85011599 http://id.loc.gov/authorities/subjects/sh88004573 http://id.loc.gov/authorities/subjects/sh2008120490 |
| title | A critique of creative Shari'ah compliance in the Islamic finance industry / |
| title_auth | A critique of creative Shari'ah compliance in the Islamic finance industry / |
| title_exact_search | A critique of creative Shari'ah compliance in the Islamic finance industry / |
| title_full | A critique of creative Shari'ah compliance in the Islamic finance industry / by Ahmad Alkhamees. |
| title_fullStr | A critique of creative Shari'ah compliance in the Islamic finance industry / by Ahmad Alkhamees. |
| title_full_unstemmed | A critique of creative Shari'ah compliance in the Islamic finance industry / by Ahmad Alkhamees. |
| title_short | A critique of creative Shari'ah compliance in the Islamic finance industry / |
| title_sort | critique of creative shari ah compliance in the islamic finance industry |
| topic | Banking law (Islamic law) http://id.loc.gov/authorities/subjects/sh85011599 Finance (Islamic law) http://id.loc.gov/authorities/subjects/sh88004573 Finance Religious aspects Islam. http://id.loc.gov/authorities/subjects/sh2008120490 Banques (Droit islamique) Finances (Droit islamique) LAW Administrative Law & Regulatory Practice. bisacsh Banking law (Islamic law) fast Finance (Islamic law) fast Finance Religious aspects Islam fast |
| topic_facet | Banking law (Islamic law) Finance (Islamic law) Finance Religious aspects Islam. Banques (Droit islamique) Finances (Droit islamique) LAW Administrative Law & Regulatory Practice. Finance Religious aspects Islam |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1940316 |
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