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The Politics of Islamic Finance - Clement M. Henry

The Politics of Islamic Finance

By: Clement M. Henry (Editor), Rodney Wilson (Editor)

Paperback Published: 17th February 2004
ISBN: 9780748618378
Number Of Pages: 307
For Ages: 22+ years old

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Can the contemporary Islamic finance movement be shown to meet the requirements of modern commerce? In the wake of the terrorist attacks on America the UN Security Council passed a resolution targeting transnational sources of terrorist funds. The United States and the International Monetary Fund are encouraging the governments of the Middle East to adopt policies of economic liberalism and a new type of capitalism, based on Islamic values and beliefs, is emerging.

The aims of the book are:

to explore the political implications of the slow but steady accumulation of Islamic capital

to analyse the connections between Islamic finance and Islamic political movements in Middle Eastern and North African countries

to show that the commonly-perceived connection between Islamic finance and money laundering and terrorism is by no means the complete picture.

Readers will learn to appreciate the various political contexts in which Islamic finance operates in the Middle East and North Africa and will acquire some understanding of its political as well as economic constraints. Hopefully possible misunderstandings about Islamic banking and finance will be corrected.

The book is divided into two parts - part one is thematic and lays the ground for the country-specific case studies in part two (covering the Sudan, Kuwait, Jordan, Turkey, Tunisia and Egypt). The contributors include political scientists, economists and historians. Key Features:

A major topical issue

Written by the world's leading experts on Islamic Political Economy

Explores the connections between Islamic finance and Islamic political movements

Includes country-specific case studies

Industry Reviews

Divided between a number of balanced thematic essays and a series of sound case studies, examining the experiences of Islamic banking in countries such as Sudan, Turkey, Kuwait and Egypt. Valuable reading for anyone who wants to understand Islamic banking and its formal and informal societal and political relationships. This timely book demonstrates how in-depth academic scholarship can make a signal contribution to a major topical issue of public policy. -- Robert Springborg London Middle East Institute -- They are the leading experts on the political economy of Islamic banking, and the book will attract the interest of all who wish to understand this phenomenon. Divided between a number of balanced thematic essays and a series of sound case studies, examining the experiences of Islamic banking in countries such as Sudan, Turkey, Kuwait and Egypt. Valuable reading for anyone who wants to understand Islamic banking and its formal and informal societal and political relationships. This timely book demonstrates how in-depth academic scholarship can make a signal contribution to a major topical issue of public policy. London Middle East Institute

Introductionp. 1
Thematic Essays
Islamic Banks: The Rise of a New Power Alliance of Wealth andp. 17
Global Politics, Islamic Finance and Islamist Politics Before and After 11 September 2001p. 37
The Murabaha Syndrome in Islamic Finance: Laws, Institutions and Politicsp. 63
Marketing Commodities Does Not Happen on Commodity Markets: The Egyptian Bursat Al-'Uqud and Oil Futures Marketsp. 81
Financial Performances of Islamic versus Conventional Banksp. 104
Capital Flight through Islamic Managed Fundsp. 129
Case Studies
Interest Politics: Islamic Finance in the Sudan, 1977-2001p. 155
The Kuwait Finance House and the Islamization of Public Life in Kuwaitp. 168
Jordan: A Case Study of the Relationship between Islamic Finance and Islamist Politicsp. 191
The Political Economy of Islamic Finance in Turkey: The Role of Fethullah Gulen and Asya Finansp. 216
Aiyyu Bank Islami? The Marginalization of Tunisia's BEST Bankp. 240
The Rise and Decline of the Islamic Banking Model in Egyptp. 265
Conclusionp. 286
Notes on the Contributorsp. 296
Indexp. 297
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780748618378
ISBN-10: 0748618376
Audience: Professional
For Ages: 22+ years old
Format: Paperback
Language: English
Number Of Pages: 307
Published: 17th February 2004
Country of Publication: GB
Dimensions (cm): 23.27 x 15.8  x 1.7
Weight (kg): 0.49

Earn 148 Qantas Points
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