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Books > Social sciences > Sociology, social studies > Ethnic studies > Islamic studies
The prohibition of interest is the feature of Islamic banking which most distinctly sets it apart from conventional banking. To Western eyes, this seems a strange restriction, but Christian countries themselves maintained such a ban for 1,400 years. Islamic Banking asks why Islam has been able to maintain its stand. The book explores the intricacies of Islamic law and the religious and ethical principles underpinning Islamic banking. It then considers the analytical basis of Islamic banking and financing in the light of modern theories of financial intermediation, and identifies the conceptual issues to be overcome. Following case studies of the operations of Islamic banks in Bahrain, Bangladesh, Egypt, Jordan, Malaysia and Australia, along with Iran, Pakistan and Sudan, the volume concludes that many of the criticisms of their activities seem misplaced. It argues that the factors governing success are the distinctive system of corporate governance and continued product innovation. The book ends by considering four such innovations - Islamic investment banking and project finance, Islamic insurance, Islamic securities and the formation of a pan-Islamic international financial centre. This pathbreaking volume - the first to consider Islamic banking and finance from a global perspective - will be of great interest to scholars of money and banking, international finance and Middle Eastern studies.
This second volume of studies by the late Nehemia Levtzion pursues the themes covered in his previous collection, Islam in West Africa; it also maintains a particular interest in the history of Africa while including broader chronological and geographic perspectives. It includes four new papers, delivered by the author in the years before his death, specially prepared for publication in this volume. In the first part, there is an emphasis on processes of conversion and Islamization, but the studies also cover Islamic perceptions of and presence in Africa; the second focuses on Islamic movements of revival and renewal, Sufism and fundamentalism.
Americans' awareness of Islam and Muslims rose to seemingly unprecedented heights in the immediate aftermath of September 11, 2001, but this is not the first time they have dominated American public life. Once before, during the period of the Iranian revolution and hostage crisis of 1979 to 1981, Americans found themselves targeted as a consequence of a militant interpretation of Islam. Daniel Pipes wrote In the Path of God in response to those events, and the heightened interest in Islam they generated. His objective was to present an overview of the connection between in Islam and political power through history in a way that would explain the origins of hostility to Americans and the West. Its relevance to our understanding of contemporary events is self evident. Muslim antagonism toward the West is deeply rooted in historical experience. In premodern times, the Islamic world enjoyed great success, being on the whole more powerful and wealthier than their neighbors. About two hundred years ago, a crisis developed, as Muslims became aware of the West's overwhelming force and economic might. While they might have found these elements attractive, Muslims found European culture largely alien and distasteful. The resulting resistance to Westernization by Muslims has deep roots, has been more persistent than that of other peoples, and goes far to explain the deep Muslim reluctance to accept modern ways. In short, Muslims saw what the West had and wanted it too, but they rejected the methods necessary to achieve this. This, the Muslim trauma, has only worsened over the Years.
Focusing on the 1990 Iraqi invasion of Kuwait, Hamdi Hassan offers a balanced examination of the motivation of the Iraqi polity and the conditions which accelerated and facilitated the decision to invade. Critical of the traditional approach of most Middle East studies, The Iraqi Invasion of Kuwait offers a counterpoint to Western interpretations of this key event in the contemporary history of the Middle East. Hassan examines how Saddam Hussein assessed and responded to American and Israeli intentions after the invasion, the reaction of other Arab states, and the unprecedented grassroots support for the Iraqi leadership. In this context, the author examines the social structure of Iraqi society - families, clans and regional alliances - and the importance of Ba'athism. Hassan also examines the political structure of the country, relating the identity of Arabism - the religion and language which is associated closely with the Pan Arabist ideals - to Iraqi foreign policy.
Although the West denounces the spread of radical Islam in Saudi Arabia, Pakistan, and elsewhere in the Muslim world, it tends to overlook the development of Islamic extremism in its own societies. Over the past several decades, groups like al-Qaeda have been supported by thousands of citizens of the United States, the United Kingdom, and other Western democracies. Rejecting their national identity, they have heeded international calls to "jihad" and formed extremist groups to fight their own countries. This groundbreaking book represents one of the first systematic attempts to explain why Westerners join radical Islamic groups. Quintan Wiktorowicz details the mechanisms that attract potential recruits, the instruments of persuasion that convince them that radical groups represent "real Islam," and the socialization process that prods them to engage in risky extremism. Throughout, he traces the subtle process that can turn seemingly unreligious people into supporters of religious violence. The author's invaluable insights are based upon nearly unprecedented access to a radical Islamic group in the West. His extraordinary fieldwork forms the basis of a detailed case study of al-Muhajiroun, a transnational movement based in London that supports Bin Laden and other Islamic terrorists. Through its rich empirical detail, this book explains why ordinary people join extremist movements.
(Re)thinking Orientalism is a text that examines the visual discourse of Orientalism through the pedagogy of contemporary graphic narratives. Using feminist, critical race, and postcolonial theoretical and pedagogical lenses, the book uses visual discourse analysis and visual semiology to situate the narratives within Islamophobia and neo-Orientalism in the post-9/11 media context. In the absence of mainstream media that tells the complex stories of Muslim Americans and Muslims around the world, there has been a wave of publications of graphic narratives written and drawn from various perspectives that can be used to create curriculum that presents culture, religion, and experience from a multitude of perspectives. The book is an accessible, upper level undergraduate/graduate level text written to give readers insights into toxic xenophobia created through media representation. It provides a theoretical foundation for students to engage in critical analysis and production of visual media.
Information about Islamic finance in European countries is usually provided by professional-style reports, offering practical data on implementation of standardized products. However, precise developments about material legal provisions applicable to contracts and their actual legal regime are not often detailed. In order to fill this gap, 15 researchers from across Europe contributed to this project. They describe the state of actual Islamic finance in 10 European countries, as well as applicable EU law. By combining legal analysis with statistical description of existing practices and social demand, this book provides an exhaustive account of the current potential of Islamic finance in Europe.
The Muslim conquest of the East in the seventh century entailed the subjugation of Christians, Jews, Zoroastrians and others. Although much has been written about the status of non-Muslims in the Islamic empire, no previous works have examined how the rules applying to minorities were formulated. Milka Levy-Rubin's remarkable book traces the emergence of these regulations from the first surrender agreements in the immediate aftermath of conquest to the formation of the canonic document called the Pact of 'Umar, which was formalized under the early 'Abbasids, in the first half of the ninth century. The study reveals that the conquered peoples themselves played a major role in the creation of these policies and that they were based on long-standing traditions, customs and institutions from earlier pre-Islamic cultures that originated in the worlds of both the conquerors and the conquered. In its connections to Roman, Byzantine and Sasanian traditions, the book will appeal to historians of Europe as well as Arabia and Persia.
This unique and comprehensive book is an authoritative guide to dermatological conditions for black populations in Africa. As well as being an essential reference for all doctors, healthcare and voluntary workers in Africa, it is of interest throughout the world, given the increase in presentation of such conditions everywhere as a result of intercontinental travel. Conditions are described in a consistent format for ease of use. The book contains over six hundred clear colour pictures of dermatological cases to greatly assist the recognition, diagnosis and treatment of both common and rare skin conditions.
While the collapse of the Soviet Union and the Eastern bloc has contributed to the decline of communism as a revolutionary political force, religious and ethnic issues have now assumed renewed and increased significance in South East Asia. Since the Islamic resurgence of the early 1980s and 1990s, elements of a more radical political Islam have migrated from the Middle East to Asia. If left unchecked these radical elements could aggravate a number of security and political crises in countries weakened by the consequences of the devastating Asian financial crisis. In an increasingly globalized world, it is not only the exchange of tangible goods across borders that is transmitted with multiplying efficiency and speed, but the exchange of ideas across seamless borders, assisted by the ever-improving communications technology of the Internet and electronic mail. Paradoxically, globalization both creates social change that can spark a backlash in the form of Islamic radicalism, and provides improved means for the spread of Islamic ideals. This critical volume examines the advance and contours of Islamicism and analyzes the potential consequences that such activity poses in South East Asian region. The study tracks the activities of external countries such as Iran, Libya, Pakistan, and Saudi Arabia and highlights the key roles these countries play in East Asian economies, politics, religion, and weapons procurement. It focuses on four locations in South East Asia: Indonesia, Malaysia, the southern Philippines, and southern Thailand. The introduction treats the Islamic resurgence in Asia, its links to Middle Eastern Islam, and its external influences. Chapters 1 and 2 examine "Islam and Politics in the New Indonesia" and "Islam, Society, Politics, and Change in Malaysia"; chapters 3 and 4 discuss in detail "Militant Islamic Extremism in the Southern Philippines" and "Militant Islamic Separatism in Southern Thailand." A conclusion follows with an assessment of religious extremism with its concomitant volatility and unpredictability in the regions discussed and an overview of the extra-regional sources of radicalization and the forums convened to combat such. Islam in Asia highlights the range of variables-social, religious, economic, and cultural-that stimulate or impede the development of militant Islam in Southeast Asia. It offers through four central case studies an insight into the workings of these factors in producing particular developments with regard to Islam and suggests likely short- and medium-term prognoses for the future.
While the collapse of the Soviet Union and the Eastern bloc has contributed to the decline of communism as a revolutionary political force, religious and ethnic issues have now assumed renewed and increased significance in South East Asia. Since the Islamic resurgence of the early 1980s and 1990s, elements of a more radical political Islam have migrated from the Middle East to Asia. If left unchecked these radical elements could aggravate a number of security and political crises in countries weakened by the consequences of the devastating Asian financial crisis. In an increasingly globalized world, it is not only the exchange of tangible goods across borders that is transmitted with multiplying efficiency and speed, but the exchange of ideas across seamless borders, assisted by the ever-improving communications technology of the Internet and electronic mail. Paradoxically, globalization both creates social change that can spark a backlash in the form of Islamic radicalism, and provides improved means for the spread of Islamic ideals. This critical volume examines the advance and contours of Islamicism and analyzes the potential consequences that such activity poses in South East Asian region. The study tracks the activities of external countries such as Iran, Libya, Pakistan, and Saudi Arabia and highlights the key roles these countries play in East Asian economies, politics, religion, and weapons procurement. It focuses on four locations in South East Asia: Indonesia, Malaysia, the southern Philippines, and southern Thailand. The introduction treats the Islamic resurgence in Asia, its links to Middle Eastern Islam, and its external influences. Chapters 1 and 2 examine "Islam and Politics in the New Indonesia" and "Islam, Society, Politics, and Change in Malaysia"; chapters 3 and 4 discuss in detail "Militant Islamic Extremism in the Southern Philippines" and "Militant Islamic Separatism in Southern Thailand." A conclusion follows with an assessment of religious extremism with its concomitant volatility and unpredictability in the regions discussed and an overview of the extra-regional sources of radicalization and the forums convened to combat such. Islam in Asia highlights the range of variables-social, religious, economic, and cultural-that stimulate or impede the development of militant Islam in Southeast Asia. It offers through four central case studies an insight into the workings of these factors in producing particular developments with regard to Islam and suggests likely short- and medium-term prognoses for the future.
After barely half a century of experience, Islamic banking has become established as a new niche industry across the world, offering new and sophisticated financial products designed to be compliant with Islamic legal principles and common law. This comprehensive book explores the theory, principles and practices underpinning this rapidly expanding sector of banking. Expert contributors - including eminent scholars and senior practitioners in the field - examine the roots of the principles of ethical Islamic financial transactions, which have evolved over several millennia, on issues including usury, interest rates, and financial contracting for funding enterprises, mortgages, leasing and other transactions. Regulatory and governance issues are discussed, and the practice and operation of Islamic financial institutions are explained via three distinct case studies. Importantly, the final chapter looks at what steps are being taken to provide professional accreditation to Islamic banking professional personnel, and prescribes requirements for training in this growing industry. This rich and wide-ranging guide to the foundations and fundamental principles of this new form of ethics-based financial practice will prove a fascinating and illuminating read for regulators, practitioners, and scholars in the fields of economics, finance, money and banking. Contributors: I. Abraham, S.O. Alhabshi, S.H. Aljunid, M. Ariff, M.K. Badar, I. Bhatti, M. Bhatti, E. Girard, K. Hassan, T. Hassan, M. Iqbal, M.K. Lewis, C. Mews, A. Saeed, S.H. Razak, M. Shamsher, M.T. Skully, A. Walsh, M. Zaman |
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