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Islamic Banking and Interest: A Study of the Prohibition of Riba and Its Contemporary Interpretation

Islamic Banking and Interest A Study of the Prohibition of Riba and Its Contemporary Interpretation This important book critically examines the traditional interpretation of riba translated as usury of interest and the attempts of modern Islamic banks to put that interpretation into practice The fir

  • Title: Islamic Banking and Interest: A Study of the Prohibition of Riba and Its Contemporary Interpretation
  • Author: Abdullah Saeed
  • ISBN: 9789004105652
  • Page: 318
  • Format: Hardcover
  • This important book critically examines the traditional interpretation of riba translated as usury of interest and the attempts of modern Islamic banks to put that interpretation into practice The first part of the book examines the prohibition and interpretation of riba in Islam, as well as the controversies surrounding it The second part examines the alternatives toThis important book critically examines the traditional interpretation of riba translated as usury of interest and the attempts of modern Islamic banks to put that interpretation into practice The first part of the book examines the prohibition and interpretation of riba in Islam, as well as the controversies surrounding it The second part examines the alternatives to interest based financing utilised in Islamic banking and the problems associated with such alternatives with particular focus on mudaraba, musharaka and marabaha The book questions the legalistic approach to the interpretation of riba and argues for a moral understanding of the issue in the light of the authoritative texts of Islam and the lessons learnt from the Islamic banking experiment.

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      318 Abdullah Saeed
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      Posted by:Abdullah Saeed
      Published :2020-01-08T11:03:23+00:00

    About "Abdullah Saeed"

    1. Abdullah Saeed

      Abdullah Saeed is the Sultan of Oman Professor of Arab and Islamic Studies at the University of Melbourne He is also the director of the National Centre of Excellence for Islamic Studies a cooperative initiative of the University of Melbourne, University of Western Sydney, and Griffith University and co director of Melbourne s Centre for Islamic Law and Society His publications cover Qur anic hermeneutics, Islam and human rights, Islamic law reform, Islamic finance, Muslim communities in Australia, and Islam and freedom of religion His publications include The Qur an an Introduction 2008 and Freedom of Religion, Apostasy and Islam 2004 Born in the Maldives, Saeed received his B.A in Arab Islamic Studies from the Islamic University Saudi Arabia and his Ph.D in Islamic Studies from the University of Melbourne.

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