Islamic Commercial Law: An Analysis of Futures and Options (I.B.Tauris in Association With the Islamic Texts Society) - Softcover

Kamali, Mohammad Hashim

Softcover

ISBN 10: 0946621802 ISBN 13: 9780946621804

Publisher: The Islamic Texts Society, 2000

Synopsis

"Islamic Commercial Law: An Analysis of Futures and Options" is a ground-breaking study, written by a renowned scholar in the field of Islamic law, Prof M. H. Kamali, focusing on options and futures as trading tools, exploring their validity from an Islamic point of view. In this work, Prof M. H. Kamali advances a new perspective on the issue of futures and options based on an interpretation of the Qur'an and the Sunna and referring to the principle of "maslaha" (consideration of public interest) as enshrined in the Sharia.---"Islamic Commercial Law" consists of three parts. Part One is devoted to the description of futures trading and the understanding of operational procedures of futures and futures markets. Part Two investigates the issue of permissibility of futures trading in Islamic law and the underlying questions of risk-taking and speculation, which are of central concern to the topic. Part Three is devoted to an analysis of options. Prof M. H. Kamali concludes this work by providing the most advisable approach to commercial speculation in futures and options, especially the one that most serves the public interest as enshrined in Sharia. So as to aid the reader's understanding of this topic, the author also includes a helpful glossary of all technical Arabic terms that appear in this work. Prof M. H. Kamali's "Islamic Commercial Law" is recommended reading for anyone working on Islamic law, comparative law, or Islamic banking, and is an essential contribution to the topic of Islamic commercial law.

About this title

Review

'A model of Islamic analysis that I would commend to everyone.'--Mohammed Amin

Synopsis

Islamic Commercial Law: An Analysis of Futures and Options focuses on options and futures as trading tools and explores their validity from an Islamic point of view. Futures and options are a completely new phenomenon which has no parallel in Islamic commercial law. After reviewing the existing rules of Islamic law of contract and verifying their relevance or otherwise to futures trading, the author, Professor M H Kamali, advances a new perspective on the issue of futures and options based on an interpretation of the Quran and the Sunnah and referring to the principle of maslaha (consideration of public interest) as enshrined in the Shariah. Islamic Commercial Law consists of three parts. Part One is devoted to the description of futures trading and the understanding of operational procedures of futures and futures markets; Part Two investigates the issue of permissibility of futures trading in Islamic law and the underlying questions of risk-taking and speculation, which are of central concern to the topic. Part Three is devoted to an analysis of options. This work will be of use to anyone working on Islamic law, comparative law or working in Islamic banking.

About this edition

• Publisher: The Islamic Texts Society
• Publication date: 2000
• ISBN 10: 0946621802
• ISBN 13: 9780946621804
• Binding: Paperback
• Number of pages: 276