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Minerals Investment under the Shari'a Law : International Energy & Resources Law & Policy - Walied M.H. El-Malik

Minerals Investment under the Shari'a Law

International Energy & Resources Law & Policy

Hardcover Published: June 1993
ISBN: 9781853339073
Number Of Pages: 176

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Starting with a survey of the sources of Islamic law, the book questions the capacity of Islamic law to develop and to adapt itself to the exigencies of time and place, since, although the rules of the holy Quran are eternal and immutable, yet they can well be interpreted to suit fresh situations. The author argues that, although private ownership of minerals is permissible under Islamic law, it is the consensus of the Muslim dilemma that state ownership of minerals is the best concept to be adopted by states in the public interest. He goes on to discuss state participation in mineral activities, types of agreements, methods of finance and how the shari'a laws fit into a well organized subject like the modern mineral industry. Finally, in regard to the protection of investors, Muslims and non-Muslims, under Islamic law, the author illustrates that investors are well protected and that no Muslim ruler has the right to deprive them of their property as long as they are performing their obligations. Unlike international law, under Islamic law public interest alone does not justify the taking of private property. Settlement of disputes and the attitude of shari'a towards modern international arbitration are examined.

Introductionp. 1
What is Islamic Law?p. 3
Is there a Single System of Islamic Law?p. 4
The Sources of Islamic Lawp. 7
The Holy Quranp. 9
The Sunnahp. 15
Ijma (Consensus of Opinion)p. 17
Qiyasp. 19
The Secondary Sourcesp. 20
The Power of Legislationp. 31
Islamic Schools of Jurisprudencep. 34
Classification of Land in Islamic Lawp. 37
The Minerals Industryp. 43
Ownership Conceptp. 44
The Role of the Islamic State in Mineral Activitiesp. 57
Mining Agreementsp. 70
The Legal Nature of Concession Agreementsp. 74
Taxation under Islamic Lawp. 78
Negotiation of Mineral Agreementsp. 83
The Islamic Monetary System and Financial Institutions and Methods of Financep. 85
Protection of Investment under Islamic Lawp. 101
Guarantee against Arbitrary Breach of the Contractp. 102
The Principle of Non-Retroactivity of Lawsp. 109
The Guarantee against Taking of Private Propertyp. 111
Settlement of Disputesp. 120
Glossaryp. 132
Selected Bibliographyp. 135
Table of Casesp. 139
Indexp. 141
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9781853339073
ISBN-10: 1853339075
Series: International Energy & Resources Law & Policy
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 176
Published: June 1993
Country of Publication: GB
Dimensions (cm): 23.39 x 15.6  x 1.12
Weight (kg): 0.4