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Islamic finance; principles and practice.


Islamic finance; principles and practice.

Visser, Hans.

Edward Elgar Publishing


184 pages




Visser (emeritus, economics and business management, Vrije U., the Netherlands) presents an introduction to Islamic finance, which is based upon the prohibition of interest, among other prohibitions, as well as a number of positive recommendations. Unlike some other books on the subject, which merely describe the mechanics of Islamic finance, Visser places its products and practices against the background of its ideology, including the tensions that may arise between the ideology and the practices. Over the course of eight chapters, he reviews the motives for Islamic finance; describes the legal reasoning behind Islamic precepts and its religious foundations; analyzes Islamic finance in the context of the wider Islamic economy; provides an overview of Islamic financial instruments; describes the peculiarities of Islamic banking, investment, insurance, and other special activities; discusses the challenges central banks and state treasuries face in attempting to follow Islamic principles; and explores views on Islamic finance's successes and failures as seen from the points of view of conventional economics and some prominent Islamic scholars.

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Publication:Reference & Research Book News
Article Type:Book review
Date:Nov 1, 2009
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